Canadian Underwriter

Topic Licensing

Father With One Child Holding His Son's Hand. Isolated On Color Background.
News B.C.BrokersLicensing

Broker suspended for a year after covering for his son in auto accident

April 17, 2023 by David Gambrill

A veteran B.C. broker had his broker licence suspended for one year after trying to protect his son by falsely claiming to police and the public auto insurer that he was the driver in his son’s hit-and-run accident. In addition

Corporate culture celebrates accomplishments, diversity and teamwork
News BrokersEmerging RisksInsurersLegalLiabilityLicensingManagementOperations

What the industry says about regulator’s draft corporate culture guidance

March 7, 2023 by David Gambrill

Canada’s solvency regulator has refined its proposed guidance on corporate culture for P&C insurers, and it’s now consulting with the industry about its expectations. The Office of the Superintendent of Financial Institutions (OSFI) was scheduled to have a technical briefing

Complaint file
News HRLicensingMGAs

New ombudservice to handle complaints against MGAs

March 3, 2023 by Jason Contant

The Canadian Association of Managing General Agents (CAMGA) has created an ombudservice to act as an adjudicator of queries and allegations made against the association’s members. CAMGA has partnered with Barb Szychta as the independent MGA ombudservice, the association said

College students in a classroom.
News BrokersCommercialCommercial AutoConstructionHRLicensingManagementPropertyTrusted Advisor

Can a new college program draw talent to commercial brokerages?

January 18, 2023 by Alyssa DiSabatino

The specialized nature of commercial brokering is causing a talent shortage now that veterans are retiring in droves. “I literally get three or four different companies a week that ask for talent, and it’s amplified across the industry,” said John

Business owner in a paperwork avalanche
News BrokersLegalLiabilityLicensingMergers and Aqcuisitions

What selling a brokerage and ‘The Bachelor’ have in common

November 17, 2022 by Philip Porado

Dating takes time, and hours of preparation – even The Bachelor takes a full season for the prospective bride-to-be to sort  through all the contestants. And the process of selling your brokerage is no different, according to a brokerage M&A

Shopping bag leaping from a computer to illustrate e-commerce growth for insurers
News BrokersCommercialInsurersLicensingMergers and AqcuisitionsOperations

How acquisitions help P&C brokers boost cross-selling options

October 28, 2022 by Philip Porado

Several Canadian commercial P&C brokerages are actively acquiring wealth management, retirement planning and employee benefits firms so they can boost revenues by adding to their product ranges. The simple math suggests a larger product suite — one that brings in

Magnet draws talent to a company
News BrokersInsurersLicensingMergers and AqcuisitionsTrusted Advisor

How to find P&C talent by acquiring wealth planning advisories

October 27, 2022 by Philip Porado

Frequent announcements about Canadian P&C brokerages buying retirement and wealth planning advisories raises an interesting question: What do the acquirers offer to the employees of the firms they buy? The short answer is development opportunities, said Terri Botosan, regional president

Stack of green compliance and rules books
News BrokersLicensingMGAs

Why RIBO’s considering a harmonized standard for broker licensing, and MGA carve-out

October 4, 2022 by Jason Contant

The Registered Insurance Brokers of Ontario (RIBO) is working with the Canadian Insurance Services Regulatory Organizations (CISRO) to review property & casualty agent and broker education and training requirements to make recommendations regarding a harmonized standard. This could take the

FSRA's in-office logo
News BrokersClaimsInsurersLicensing

What the regulator’s review of auto insurance health care practitioners uncovered

September 9, 2022 by Alyssa DiSabatino

Ontario’s insurance market conduct regulator took a closer look at how auto insurance health care providers are billing insurers through the province’s electronic billing system, and found that 27 medical health professionals on the billing roster have been sanctioned by

Happy independent businessman
News BrokersHRInsurersLicensingManagementMergers and AqcuisitionsTrusted Advisor

Does it matter how brokers define independence?

July 25, 2022 by Jason Contant

What’s the best way for a P&C broker to maintain its independence? Depends who you ask. Back in April, Insurance Brokers Association of Ontario president Joseph Carnevale told Canadian Underwriter that independence is linked to the broker value proposition to

Stakeholders conducting a strategic planning review in the boardroom
News Emerging RisksLicensingMGAsOperations

Regulator to engage MGA sector on emerging risks

June 22, 2022 by Jason Contant

Canadian Insurance Services Regulatory Organizations (CISRO) will soon be engaging Canada’s national MGA association to find out the emerging risks for the sector, the regulator said during a recent industry event. “Later this year, CISRO will be engaging CAMGA [Canadian

Damage from the May 21 derecho in Ontario
News AdjustersCatastrophesClaimsClaims Canada ArchiveEnvironmentalInsurersLicensingOntarioQuebec

Why this province’s approach to adjuster capacity needs to go national

June 6, 2022 by Jason Contant

The president of the Canadian Independent Adjusters’ Association (CIAA) is hoping other provinces take note of how Ontario’s insurance regulator has approached adjuster capacity and licensing issues following the May 21 derecho that struck Ontario and Quebec. On May 31,