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Markets / Coverages
How Canada’s data breach reporting law can help brokers sell cyber based on facts, not fear
March 22, 2018 by David GambrillCanada’s forthcoming implementation of mandatory data breach reporting may create an opportunity for the country’s commercial brokers to have conversations with their clients about cyber insurance risk based on concrete data instead of fear, a Marsh Canada broker says. Improved…
Ask B.C. residents if they are covered for wildfire. 25% will tell you this…
March 21, 2018 by Jason ContantAs many as 25% of British Columbians say they don’t know if they have insurance for wildfire and severe weather emergencies, according to a survey released Monday by the provincial public safety ministry. Fewer than half of British Columbians have…
Ontario MPP says roadside suspensions for distracted driving “might be reasonable”
March 21, 2018 by Greg MeckbachRoadside suspensions for motorists caught using wireless devices while driving “might be reasonable,” an Ontario government MPP told Canadian Underwriter Tuesday. Ontario already has “strong rules on the books” against distracted driving, Arthur Potts, parliamentary assistant to Ontario transportation minister…
Clothing advice that brokers should give tenants buying insurance
March 21, 2018 by Greg MeckbachTenant’s insurance is not only unprofitable for many brokers, but it’s also hard to sell because consumers underestimate the cost to replace contents, a Toronto broker says. Greg Robertson, president of R. Robertson Insurance Brokers Ltd., advises tenants to consider…
What Ontario needs to do to reduce auto insurance costs
March 20, 2018 by Greg MeckbachIf Ontario motorists want lower insurance rates, the government will have to take a harder line on distracted driving, a former Ontario civil servant said Monday. Fraud in the collision repair industry and distracted driving are among the issues that…
Six insurer examinations “significantly intrusive,” accident benefits tribunal rules
March 20, 2018 by David GambrillSix insurer examinations [IEs] turned out to be three too many, an Ontario tribunal has decided, allowing an accident benefits claimant to go ahead with her hearing despite her refusal to attend the insurer’s three additional IEs. “Three in-person examinations;…
‘No indication’ of where Ontario premier hopeful Ford stands on auto insurance
March 20, 2018 by Greg MeckbachWith an Ontario election scheduled in three months, there is no telling what – if anything – a new government would do with the auto insurance file. If the Ontario election were held today, the new premier could very well…
Markel Canada Local Property Business Update
March 19, 2018 Markel CanadaTORONTO, March 19, 2018 /insPRESS/ – Following Markel’s March 15 announcement of ceasing property underwriting in the London open market, Markel Canada would like to assure its valued broker partners that this in no way affects its local property business. …
Two factors prompting HUB’s latest Canadian acquisition
March 12, 2018 by Jason ContantLocation and farming expertise played into HUB International Limited’s acquisition of a Manitoba brokerage recently. The global insurance brokerage announced Wednesday it has acquired the shares of Desilets Insurance Brokers Ltd. Desilets Insurance will become part of Hub Manitoba. “This…
What happened to an Ontario auto insurer that actually cut rates by 15%
March 9, 2018 by Greg MeckbachOntario’s ill-fated effort to force auto insurance rates down 15% is having some lingering effects on one insurer. “I think we were one of the few [Ontario auto insurers] that met the government’s mandated 15% rate reduction and that has…
Aon Benfield suggests Brantford flooding will cost “tens of millions”
March 9, 2018 by Jason ContantAon Benfield’s catastrophe model development team, Impact Forecasting, is estimating total economic and insured losses in the tens of millions (U.S. dollars) for the recent flooding in southern Ontario. Catastrophe Indices and Quantification Inc. (CatIQ) told Canadian Underwriter in late…
Risk of workplace cannabis use
March 9, 2018 by Greg MeckbachThe “unintended consequences” of legalizing marijuana will increase the risk of accidents in British Columbia’s forestry and oil and gas sectors, one politician warns, while a Saskatchewan government official said Thursday all workplace policies need to address cannabis use. Brokers…