Canadian Underwriter

Topic Licensing

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Licensing exams now offered in a virtual format

February 9, 2021 by Jason Contant

Licensing exams for Ontario’s brokers are now available in an online, virtually-proctored format, the result of a partnership between the Insurance Institute of Canada and Ontario’s broker regulator RIBO (Registered Insurance Brokers of Ontario). “This is welcome news to many

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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,

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What’s missing from driverless vehicle rollout plan

January 19, 2021 by Greg Meckbach

Driverless vehicles need to have some way of communicating with police, fire and ambulance responders, an auto manufacturers’ group said in a recent report. First responders have ways of handling situations they encounter in traffic but there are no  “common

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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

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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

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What could push Facebook and Amazon into offering insurance

January 12, 2021 by Greg Meckbach

If the federal government goes forward with giving fintechs increased access to consumer financial transaction data, this could encourage large tech players like Amazon and Facebook to get into the insurance business, a Canadian P&C expert suggests. “Nobody ever thought

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What four home insurers told the auditor general about illegal electrical work

December 8, 2020 by Greg Meckbach

Some Ontario homeowners could collect insurance money on property claims even if the damage was caused by illegal electrical work, the auditor general suggests in her report released Monday. Staff with the province’s Office of the Auditor General contacted four

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Insurers now treating distracted driving as ‘major’ conviction

November 27, 2020 by Greg Meckbach

In keeping with actions previously taken by Canada’s auto insurers, Northbridge General Insurance Company will start treating driving while using a hand-held communication device as a major conviction for the purpose of setting insurance rates in Nova Scotia. The change

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What Ontario’s auto dealer overseer says about GAP insurance

November 26, 2020 by Greg Meckbach

Guarantee asset protection, or GAP insurance, can address the risk of a consumer having negative equity as a result of borrowing money to buy a car, suggests the head of the organization that regulates Ontario’s motor vehicle dealers. GAP is

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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

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What happened to this therapist who was convicted of insurance fraud

November 17, 2020 by Greg Meckbach

An Ajax, Ont. woman who billed claimants and insurers for therapy services that were never performed has lost her bid to appeal her criminal convictions to the Supreme Court of Canada. In 2008, a motor vehicle accident victim went to

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Broker suspended for passing off client’s cancelled vehicle plates as his own

November 10, 2020 by David Gambrill

A B.C. broker has been suspended for two years and fined $1,000 for passing off a client’s cancelled vehicle license plates as his own, giving the appearance that his vehicle was insured when in fact it wasn’t. Ping Hong (Gary)