Many Canadian P&C companies have shown their support for 2SLGBTQ+ Pride by emblazoning their company logo in rainbow colourways. But creating employee-resource groups, recruitment practices and marketing that embraces 2SLGBTQ+ employees, stakeholders and policyholders is critical for moving the dial…
Despite online insurance gaining popularity, consumers still need — and want — personalized advice from their insurance companies and brokers, executives observed during a recent industry panel discussion. “I had really thought at the end of 2020 that digital…
Don Forgeron will retire as president and CEO of the Insurance Bureau of Canada after a tenure of almost 30 years. He will also retire as a member of the IBC’s board of directors. The search for Forgeron’s successor will…
B.C.’s Supreme Court has denied a claimant’s attempt to bail out of two mandatory dispute resolution hearings with multiple insurers in a three-year dispute over the value of water damage in her strata unit. “The plaintiff is understandably frustrated by…
Canada’s largest insurer thinks 15% of insurers will undergo ownership changes in the next five years. “We predict that about 15% of the existing market shares will change hands in the next five years,” said Louis Gagnon, CEO of Intact…
Commission structure doesn’t always compensate for the time brokers must spend preparing for prospective business, only to have a client reject the proposal, said a broker responding to Canadian Underwriter’s latest National Broker Survey. “If I go to a dentist,…
Expect 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…
While the pandemic created extra work for brokers, it also highlighted the value of the broker proposition, which includes, choice, advice and advocacy, according to Canadian Underwriter‘s 2022 National Broker Survey, which asked more than 250 brokers nationwide about challenges…
Consumer 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and staffing shortages are among the reasons why service levels have been challenged in recent months, but revamping outdated technology and insourcing claims may help ease the backlog, say industry executives.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…
Younger Canadians are accustomed to getting immediate results from their actions. Sending an e-transfer, text or e-mail means things happen in the blink of an eye, said Katy Fowler, personal lines hero at InsuranceHero. “We expect our internet to be…
A sewer backup insurance policy only applies to a flood originating from “within” a dwelling and not from a drain overflow on a sun deck partially exposed to the outdoors, B.C.’s Supreme Court has ruled. In Gill v Wawanesa Mutual…
Although making a car theft claim won’t yield higher premiums, repeated claims may make it difficult for an insured to hold onto their theft coverage, says one insurance expert. Not all auto insurance policies cover car theft, Matt Hands, director of insurance…