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Markets / Coverages
Election 2018: Will Ontario get public auto?
May 27, 2018 by Greg MeckbachIf an election were held today in Ontario, the country’s largest private auto insurance market would be governed by a party that has promised public auto insurance in the past. Forum Research announced Thursday it projects a New Democratic Party…
How promises to eliminate territorial auto rates will divide urban and rural voters
May 24, 2018 by Greg MeckbachWhen Ontarians go to the polls June 7, they will likely vote for a party with at least some members who promise to put an end to territorial ratings in auto insurance. This poses a problem for the property and…
Here’s one way that lower auto insurance rates could increase profits
May 24, 2018 by Greg MeckbachWith new technology-driven auto insurance on the horizon, some motorists will drive less and buy insurance from carriers who target low-mileage vehicles, the founder of a comparison shopping provider suggests. Several Ontario auto insurers will probably launch products similar to…
New cyber product covers pre-policy breaches, personal phone use for work
May 24, 2018 by Jason ContantAddressing two major gaps in cyber coverage for small to medium-sized businesses (SMEs) inspired the launch this week of Cyberboxx by new managing general agent (MGA) Boxx Insurance. CyberBoxx addresses: 1) breaches before the policy commencement date, and 2) employees…
These structures can help prevent the spread of wildfires in Canada
May 24, 2018 Bill Graveland - THE CANADIAN PRESSCALGARY – A University of Calgary study says there need to be more wide, open spaces to prevent catastrophic wildfires like the one that devastated the city of Fort McMurray in northeastern Alberta two years ago. Researchers from the university’s…
New Ontario auto insurance product targets infrequent drivers
May 23, 2018 by Greg MeckbachOntario brokers will have a new auto insurance option for their auto customers this July with MyPace, a product intended for vehicles driven fewer than 9,000 kilometres per year, Canadian Automobile Association (CAA) officials said Wednesday. MyPace, which measures distance…
How one brokerage helped out a competitor during ‘biblical’ flooding
May 23, 2018 by Jason ContantRecent flooding in Grand Forks, B.C. has not only brought a community together, it has brought two local competing brokerages together as well. Sam Cowan, vice president of sales and marketing with RHC Insurance Brokers Ltd., said that the brokerage’s…
One way for a mutual insurer to “own the pace of its transformation”
May 23, 2018 by Jason ContantA mutual insurer in Alberta has partnered with software provider Mutual Concept Computer Group (MCCG) to “own the pace of their transformation.” By incorporating MCCG’s Online Quoting Solution, Mennonite Mutual Insurance Co. (Alberta) Ltd. (MMI) will be able to simplify…
How the privacy commissioner aligned with mutuals on Bill C-74
May 23, 2018 by David GambrillCanadian privacy law as it currently stands may not be enough to protect Canadians if banks are allowed to disclose their customer data to fintechs, Canada’s privacy commissioner told the Canadian Senate Committee on Banking, Trade and Commerce Wednesday. “Financial…
Do sophisticated water models select against smaller insurers?
May 22, 2018 by Jason ContantThe sophistication of technology for rating overland flood could conceivably lead to smaller insurers ending up with a disproportionate share of flood risks on their books in the event of a cat, which could spell trouble for consumers. Insurance Brokers…
Multiple fires burn through downtown Brandon, Manitoba
May 22, 2018 The Canadian PressBRANDON, Man. – A blaze that Premier Brian Pallister called “massive” has burned through several buildings in downtown Brandon, Man., including one with dozens of apartments managed by community groups. “It’s just devastating. We’re thinking of all the families that…
The challenge with insuring autonomous ships
May 20, 2018 by Jason ContantThe large body of regulations known as maritime law should be addressed before or in concert with insurance considerations when it comes to autonomous vessels, British Columbia-based author Blake Desaulniers told Canadian Underwriter last week. “That large body of regulations…