Canadian Underwriter

Topic Licensing

News HRLicensingOntario

Former State Farm Canada head Bellissimo joins industry regulator board

August 17, 2021 by Greg Meckbach

Barbara Bellissimo, former chief agent for State Farm Canada, is now on the board of Ontario’s insurance regulator. The Ontario Financial Services Regulatory Authority announced Monday that Bellissimo is a member of its board of directors effective Aug. 12. Bellissimo

News EducationInsurersLegalLicensingManagementOperationsTechnology

Is it okay to use open banking data for underwriting?

August 10, 2021 by Greg Meckbach

Mutual insurers support a proposal to prohibit insurers in Canada from using banking data for underwriting, in an initial phase of open banking. However, one industry expert questions whether there is any harm in letting consenting consumers give their own

News B.C.InsurersLicensingManagementOperationsPersonal Auto

Will Intact re-enter the B.C. auto market?

August 9, 2021 by Greg Meckbach

Intact Insurance could re-enter the British Columbia auto market but only if the provincial government provides “options and convenience” to motorists, says Intact Financial Corp. CEO Charles Brindamour. It has been eight months since Intact announced it is leaving the

News EducationLegalLicensingOperationsTechnology

Banking data should not be used for underwriting insurance: open banking committee

August 5, 2021 by Greg Meckbach

Open banking should not be used for underwriting insurance, a federally appointed committee said Wednesday. In its final report issued Aug. 4, the Advisory Committee on Open Banking recommended that the “initial phase” of open banking, in Canada, be up

News InsurersLicensingManagementMergers and AqcuisitionsNova ScotiaOperationsPersonal Auto

Here’s the timeline for converting RSA policies to Intact

July 30, 2021 by Greg Meckbach

Nova Scotia motorists with RSA insurance policies can renew through RSA until November 4, the province’s auto insurance regulator said in its July 28 ruling on Intact Insurance Company’s rate filing. On June 1, Intact Financial Corp. closed its acquisition

Front view of red SUV emergency braking to avoid car crash
News InsurersLicensingLoss TrendsNova ScotiaPersonal Auto

Why this auto insurer will stop discount for autonomous emergency braking

July 27, 2021 by Greg Meckbach

Nova Scotia motorists who purchase autonomous emergency braking systems will no longer qualify for a discount with one insurer as of October. In Nova Scotia, Aviva General Insurance Company has a 15% discount, to bodily injury and accident benefits insurance

News LegalLicensingLoss ControlLoss TrendsNova ScotiaPersonal Auto

Threat of adverse selection prompts auto carrier to start credit checks

July 13, 2021 by Greg Meckbach

Nova Scotia motorists who consent to a “soft” credit check from Economical Insurance will soon be eligible to get a discount on their auto premium, the province’s regulator announced Monday. The Nova Scotia Utility and Review Board (NSURB) has already

News BrokersEducationInsurersLegalLicensingTechnology

How to go after online fake brokerages through the courts

July 8, 2021 by Greg Meckbach

Canadian courts have the power to try and shut down unlicensed brokers’ Internet sites, though there does not seem to be a simple, sure-fire way to guarantee that Canadians won’t find a fake broker on the web. Teksavvy Solutions Inc.

News InsurersLegalLicensingLoss TrendsNova ScotiaPersonal AutoTechnology

Insurer ups distracted driving from minor to major conviction

July 6, 2021 by Greg Meckbach

Nova Scotia motorists could be out of luck when they try to renew their auto insurance if they got caught more than once using a hand-held gizmo when they should be paying attention to the road. In a ruling posted

News BrokersLicensingOntario

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 AlbertaBrokersInsurersLegalLicensingMergers and Aqcuisitions

Inactive Alberta brokerage ordered to pay $6K for failing to remit client funds to MGA

May 14, 2021 by David Gambrill

Alberta-based NIB Insurance Group Ltd., now an inactive brokerage, has been ordered to pay $6,000 in civil penalties for failing to remit client premiums to an MGA, and for selling a policy to a client while it was no longer

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Want a level playing field between tech and insurance? How open banking might help

May 8, 2021 by Greg Meckbach

Open banking rules could help create a level playing field between technology companies and the insurance industry, speakers suggested at a recent virtual conference. Bringing in “consumer-directed finance” will help consumers benefit from a broader range of financial products and