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IBAO
What the P&C industry thinks of Ontario’s 2024 budget
March 27, 2024 by Jason ContantProposed reforms to Ontario auto insurance will make life simpler for accident victims but could increase premiums and costs for insurers, says David Marshall, who’s served as senior advisor to the provincial government on auto insurance and pension funds. In…
The state of bot automation in Canadian brokerages
February 1, 2024 by Jason ContantBrokerages in Ontario are rapidly embracing bots to automate repetitive tasks, the provincial brokerage association told Canadian Underwriter. “Like all new technology, it takes time to drive awareness and articulate value, but the adoption curve seems to have accelerated more…
Brokers, insurers respond to 2023 Ontario budget
March 24, 2023 by Jason ContantOntario’s broker association is glad to see auto insurance as well as enhancing Ontario’s emergency response remains on the provincial government’s agenda. In its 2023 Ontario Budget, the government said it will “continue to make progress on previous commitments, including…
Do your clients really want digital delivery of insurance documents?
October 5, 2022 by Jason ContantMore than half of your clients want to receive their insurance documents in paper format, according to extrapolated results of Insurance Brokers Association of Ontario’s (IBAO) Going Paperless project. “It’s not a slam dunk – just because somebody wants to…
Three key issues facing the broker channel
June 21, 2022 by Alyssa DiSabatinoExpect the quickening pace of mergers and acquisitions (M&A) activity to present a big challenge — or advantage — to brokers, Joseph Carnevale, president at Insurance Brokers Association of Ontario, said at the Young Brokers Conference. The Insurance Broker…
How the industry is addressing service level challenges
June 20, 2022 by Alyssa DiSabatinoConsumer behaviour, supply chain issues and staffing shortages are among the reasons why service levels have been challenged in recent months, but revamping outdated technology and insourcing claims may help ease the backlog, say industry executives. Processing claims in-house helps…
Is it business as usual for brokers post-pandemic?
June 14, 2022 by Alyssa DiSabatinoAlthough public health indicators have seemingly stabilized and provinces are doing away with COVID-19 restrictions, clients aren’t all rushing to change their policies mid-stream, say brokers. In fact, many clients seem to be sticking to the policy changes they made…
What FSRA’s changes to auto termination notices mean for insurers
January 18, 2022 by Alyssa DiSabatinoFinancial Services Regulatory Authority of Ontario (FSRA) has changed its approved auto policy forms to align with the government’s amendments to the Insurance Act, in what is widely being considered a welcomed change by the industry. Most notably, this change includes the…
Customers increasingly receptive to digital documents
October 29, 2021 Philip PoradoIt’s not due entirely to the pandemic but brokerage customers are more open to digital documents and focused on convenience, said panellists during an Insurance Brokers Association of Ontario (IBAO) virtual convention session. And whether those documents are delivered by…
Insurer remains committed to specialty auto market
October 27, 2021 by Jason ContantIf you’re looking to place non-standard auto coverage for your client, rest assured that one insurer remains committed to that marketplace. “Through Echelon, we are absolutely committed to being in that, I’ll use the word specialty market. I don’t like…
How important is brokerage size when it comes to broker compensation?
October 27, 2021 by Jason ContantWhen it comes to working with brokerages, embracing the future is more important than size, said Carol Jardine, president of Wawanesa Insurance’s Canadian P&C operations. “A broker who’s embracing the future today might not be that large, but if they…
IBAO reacts to possibility of credit unions selling insurance
November 19, 2020 by Greg MeckbachOntario’s broker association is keeping a close eye on a provincial government proposal to relax restrictions on credit unions selling insurance in branches. “We believe there is a public consultation that is going to take place in 2021, so we…