Topic Operations
MPI labour dispute ends, as union ratifies deal
November 1, 2023 by David GambrillManitoba Public Insurance (MPI) will resume full service Friday, after its union employees voted in favour of a deal that ends a long labour dispute with the public insurer. The new deal ends a 10-week-long job action by members of…
Why McFarlan Rowlands decided to sell
October 27, 2023 by Alyssa DiSabatinoA desire for scale, coupled with a rapid succession of shareholder retirements, compelled McFarlan Rowlands to sell to a subsidiary of Definity earlier this year, a senior exec told the Insurance Brokers’ Association of Ontario’s annual convention in Toronto. …
How Northbridge beat the taxman
October 26, 2023 by David GambrillNorthbridge is allowed to claim GST input tax credits for insurance policies it issued to trucking companies operating in both Canada and the United States, the Federal Court of Appeal has ruled. The decision overturned a Tax Court of Canada…
Make sure your talent recruiter is licensed — or else!
October 25, 2023 by David GambrillIf your Ontario P&C business is using a recruiter or temporary staffing organization to find talent, make sure they’re licensed as of Jan. 1, 2024. Otherwise, you may be subject to a hefty fine in the New Year. As of…
Insurance Institute names new board leader
October 24, 2023 by Canadian Underwriter StaffValérie Lavoie is now head of the Insurance Institute of Canada (IIC)’s board of governors. The Insurance Institute is the educational arm of the property and casualty (P&C) insurance industry. IIC is charged with setting professional standards for the industry…
Claims veteran announces retirement
October 23, 2023 by Jason ContantLorri Frederick will retire as president of ClaimsPro North America at the end of this year. Frederick’s insurance career spans more than 30 years in the industry, including 10 years at independent adjusting firm ClaimsPro. “During her 10 years with…
Brokers’ Number 1 obstacle when selling cyber
October 18, 2023 by Jason ContantFor brokers, the biggest obstacle in selling cyber insurance to clients might not be what you think. Traditional roadblocks to a sale include price, board approval, and executive complacency. But here’s an unlikely naysayer that’s making the rounds of brokerage…
NatCats increasingly a factor in why insurers fail
October 17, 2023 by David GambrillAdd natural catastrophes to the list of reasons why insurance companies fail. “It is important to note that the factors that lead to insurer failures are not unique to any one country, or to any single business strategy,” the Property…
How the industry is using GenAI
October 13, 2023 by Jason ContantCanadian insurance industry players are using generative AI (GenAI) not just to simplify tasks like ‘traditional’ artificial intelligence, but for a variety of applications ranging from marketing and fraud detection, to legal documents, speakers said during a recent industry event.…
How this ratings agency views the Canadian MGA market
October 10, 2023 by Jason ContantRatings agency AM Best will likely maintain its positive outlook on the global delegated underwriting authority enterprises (DUAE) market, an executive said Friday during AM Best’s Canada Insurance Market Briefing in Toronto. “On Dec. 5, 2022, we did assign a…
Rebranding insurance: Tell recruits they’re changing the world
October 10, 2023 by David GambrillCanada’s property and casualty insurance industry needs rebranding to attract talent, and that may mean dropping the word “insurance” from recruitment messaging, delegates attending the National Insurance Conference of Canada (NICC) heard in late September. For consumers, “insurance” may carry…
Is FSRA planning to license aggregators?
October 6, 2023 by Philip PoradoOntario’s insurance regulator has confirmed it is considering whether or not aggregators need to be licensed. Since August, when Ontario’s financial services regulator issued a report outlining concerns about auto insurers’ compliance with take-all-comers requirements, Canada’s P&C insurance industry has…