Segment
Brokers
Alberta’s Automobile Insurance Rate Board supports telematics as ‘voluntary discount’ program
April 7, 2014 by Canadian UnderwriterBefore carriers can roll out telematics-based auto insurance in Alberta, the issue of “informed consent” from consumers will need to be addressed, the province’s Automobile Insurance Rate Board suggested in its recent annual report. “A number of insurers and other…
Liberal, NDP politicians say government’s intentions on demutualization are unclear
April 4, 2014 by Canadian UnderwriterThe federal Liberal finance critic expressed concern Thursday about a proposal from the ruling Conservatives that could lead to regulations enabling the demutualization of property and casualty insurance companies. Scott Brison, Liberal MP for Kings Hants, Nova Scotia, spoke about…
FSCO seeks feedback on draft of priorities for 2014
April 3, 2014 by Canadian UnderwriterThe Financial Services Commission of Ontario has released its draft priorities for the year and is accepting feedback from interested stakeholders. The final outline of its priorities is due to the Minister of Finance by June 30 each year. This…
GPL Assurance acquires JLT Canada’s Quebec business
April 2, 2014 by Canadian UnderwriterGPL Assurance Inc. announced Wednesday it has acquired the Quebec business of Jardine Lloyd Thompson Canada, making it JLT’s exclusive broker in Quebec and a member of The JLT International Network. “This transaction cements GPL’s position as a growing force…
Majority of Canadians showing interest in usage-based auto insurance
April 2, 2014 by Canadian UnderwriterCanadian drivers are receptive to purchasing usage-based auto insurance policies, fairly in line with other global markets, according to a new survey from professional services firm Towers Watson. More than half (56%) of drivers here said they have a “strong…
RSA receives CSIO certification for eDocs
April 1, 2014 by Canadian UnderwriterRSA has obtained the Centre for Study of Insurance Operations (CSIO) eDocs Certification for their branded EZ-Docs solution. “As one of the first carriers to successfully transmit live policy documents to a broker system using CSIOnet, gaining CSIO Certification has…
2013 flood losses mean insurance carriers need to point out exclusions to policyholders: EY
April 1, 2014 by Canadian UnderwriterCanadian property & casualty insurance carriers need to work with government in order to determine how areas at risk of flooding can be insured, and they also need to “draw policyholders’ attention to exclusions,” suggests a new report from Ernst…
Power Play
April 1, 2014 Angela Stelmakowich, EditorMergers and acquisitions activity involving brokerages shows few signs of letting up, looking like it will remain hot to warm over the next year or two before cooling off. Transactions may take the form of insurer to insurer, insurer to broker or broker to broker. But how will this coming together play out in terms of broker independence, distribution, breadth of choice for customers and opportunities for brokers?
Game On
April 1, 2014 Brenda Rose, Vice President and Partner, FCA Insurance Brokers and Technology Champion, Insurance Brokers Association of CanadaBusinesses looking to achieve long-term success need to keep their heads in the game. For brokers and insurers to both win, things must advance beyond creating effective interaction between systems to a common form of data exchange where information flows between multiple systems.
Looking Skwyward
April 1, 2014 Gord Enders, President, Insurance Brokers Association of Alberta and President, Direct-Line InsuranceConsumers have been added to the mix of insurers and intermediaries looking to the skies and crossing their fingers in hopes of a mild storm season. That may not be surprising, given that it is not uncommon in Alberta for home premiums to have increased 20% to 30% since January.
Moves and Views
April 1, 2014 by Canadian Underwriter1 Toronto commercial broker Aligned Insurance Inc. officially launched operations in Ontario March 25. Led by president and chief executive officer Andrew Clark [1], Aligned Insurance is targeting organizations in and around the Greater Toronto Area. The new independent firm…
People First
April 1, 2014 Greg Meckbach, Associate EditorGinny Bannerman, recipient of the CIP Society’s established leader award, picked up some leadership attributes from her father while he was running the family brokerage that still serve her today.