Topic Ontario
The price you pay for a lack of diversity
November 5, 2020 by Adam MalikIf your brokerage lacks diversity, you may not only be missing out on growth opportunities, but you also are setting yourself up for bad hires, bad decision-making, and reputational harm, a keynote speaker recently told Ontario brokers. Organizations lacking diversity…
IBC talking to feds about future pandemic risk transfer
November 2, 2020 by Greg MeckbachThe Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the…
How IBC plans to help restaurants find insurance
October 29, 2020 by Greg MeckbachClients in the hospitality sector who cannot find affordable coverage can now go directly to the Insurance Bureau of Canada for help. IBC has hired a risk manager to help commercial clients improve their risk profile, said Jordan Brennan, IBC’s…
Insurers pledge small business help as pressure mounts to address rising rates
October 29, 2020 by The Canadian PressA group representing Canadian insurance companies say it is launching a team that will help small businesses find affordable coverage as rates rise because of the pandemic. The Insurance Bureau of Canada, an association that represents the industry, says the…
What carriers are telling brokers who don’t invest in technology
October 26, 2020 by Greg MeckbachWith a week to go before Hallowe’en, Ontario brokers heard some spooky stories last week about what happens if a brokerage does not invest in keeping up to date with technology. “Technology is going to be a much more permanent…
Ontario promises action to address rising commercial insurance rates, critics urge regulation
October 26, 2020 by Shawn Jeffords - THE CANADIAN PRESSTORONTO – Under pressure to address rising commercial insurance rates blamed on the pandemic, Premier Doug Ford promised this week to take action to stop what he called “gouging” by some companies in the sector. Ford twice this week has…
Purdue Pharma pleas could bolster efforts for Canadian opioid class action
October 23, 2020 by Anita Balakrishnan - THE CANADIAN PRESSTORONTO – A Canadian class action against opioid makers will start the process of getting certified in a hearing next month, a key test on how courts here will handle a case that is making waves in the U.S. The…
Digital brokers: Should you build your own tech, or buy someone else’s?
October 22, 2020 by David GambrillOkay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers…
Why reinsurers are now ‘hesitant’ to support some Canadian insurers
October 22, 2020 by Greg MeckbachOne lesson from the economic disruption from COVID-19 is the importance of telling clients exactly what risks are and are not covered, an Insurance Brokers Association of Ontario panelist suggested Thursday. “Business interruption class action litigation does not attract capital…
Experts say counterfeit hand sanitizer recall is a lesson for retailers
October 22, 2020 by Tara Deschamps - THE CANADIAN PRESSTORONTO – Dollarama Inc. is removing a counterfeit and recalled hand sanitizer from its shelves, which experts say should serve as a reminder of how important it is for retailers and consumers to do their due diligence when shopping. “Since…
How COVID accelerated broker tech by 4-5 years
October 21, 2020 by David GambrillCOVID-19 has been good for the broker channel, in the sense that it has accelerated digital growth at brokerages by at least four to five years, a digital broker told the Insurance Brokers Association of Ontario (IBAO) virtual convention Wednesday.…
Why brokers are going to get sued over pandemic business interruption claims
October 21, 2020 by Greg MeckbachSome brokers are going to get sued by clients whose COVID-19 business interruption claims were denied, a keynote speaker warned Insurance Brokers Association of Ontario (IBAO) members Wednesday. “The main area of claim will be failure to advise of potential…