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Canadian MGA association takes centre stage with new board of directors

June 11, 2021 by Greg Meckbach

Gary Hirst is stepping down as president of the Canadian Association of Managing General Agents (CAMGA). “You might think it is strange that I am pleased to be stepping down,” Hirst, the CEO of CHES Special Risk Inc., announced during

News AssociationsBrokers

Why this purported ‘brokerage’ website caught RIBO’s eye

May 30, 2021 by Greg Meckbach

Hidden Ace Brokerage, which purports to be “fighting high insurance rates” in the greater Toronto area, and says it “takes pride in delivering the quotes that insurance companies don’t want you to see,” is not authorized to place home or

News AssociationsBrokers

Federal budget contains ‘unexpected positive development’ for brokers re: Bank Act

April 23, 2021 by Greg Meckbach

This year’s federal budget could keep the restrictions, on banks selling home and auto insurance, for at least another four years. “There was an unexpected positive development in the budget for us,” Peter Braid, CEO of the Insurance Brokers Association

News AssociationsBrokersInsuranceTechnology

What’s next in IBAC’s data exchange API pipeline

March 22, 2021 by Greg Meckbach

At least one insurer plans to offer an application programming interface (API) intended to help brokers quote and bind coverage for small businesses without the aggravation of having to log into different insurer portals or send emails or faxes. Unica

News Associations

Debbie Thompson, past president, IBAO

March 12, 2021 by Greg Meckbach

Debbie Thompson, Manager, Risk and Insurance, Ontario Ministry of Government and Consumer Services Canada’s P&C insurance industry is making good progress on increasing female representation of women in the C-suite, but more needs to be done to mentor future women

News AssociationsInsuranceLegalLegislation / RegulationRisk

Letter to the editor: Best Terms — the buyer’s point of view

February 26, 2021 BC Risk & Insurance Manager’s Association

To the Editor, We would like to respond to your editorial titled “Regulators, leave subscription policies alone,” dated Dec. 7, 2020. It is true that these are turbulent times in the insurance market, and that insurers have been experiencing losses

News AssociationsInsuranceLegislation / RegulationProductsRiskTechnology

Open banking in Canada could help insurers with credit scoring

January 20, 2021 by Greg Meckbach

Open banking could give insurers better data for credit scoring, suggests an official with the organization that handles clearing and settlement for banks in Canada. “I think we will see more accurate underwriting and more accurate credit scoring,” Andrew McFarlane,

News AssociationsBrokersClaims CanadaLegislation / RegulationRisk

RCCAQ reacts to Quebec curfew

January 18, 2021 by Greg Meckbach

Quebec’s insurance brokers should not experience any major disruptions as a result of the province-wide evening curfew imposed a week ago, the chair of the Regroupement des cabinets de courtage d’assurance du Quebec (RCCAQ) predicts. The curfew took effect on

News AssociationsBrokersInsurance

How stay-at-home order impacts Ontario brokers

January 15, 2021 by Greg Meckbach

Some Ontario brokers still need to work in their bricks-and-mortar offices amid the strict lockdown imposed Thursday by the provincial government. Although many brokerages are digital and have staff working from home, others are at the “opposite end of the

News AssociationsBrokersLegislation / RegulationTechnology

Brokers negotiate major role in this province’s digital auto insurance distribution

January 14, 2021 by Greg Meckbach

Manitoba’s brokers will provide input on designing a system for online auto insurance in the province and will be involved in every digital transaction, says the provincial broker association. A recently-signed, five-year agreement between Manitoba Public Insurance (MPI) and the

News AssociationsBrokersTechnology

IBAO’s stance on electronic termination of coverage

November 24, 2020 by Greg Meckbach

Insurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto

News AssociationsCatastrophesClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRisk

IBC talking to feds about future pandemic risk transfer

November 2, 2020 by Greg Meckbach

The Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the