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News Insurance

How to prevent auto insurance fraud

October 12, 2021 Brooke Smith

There are honest drivers on the roads. In fact, a 2021 survey by ValuePenguin indicates that 78% of consumers say they’ve never lied to their auto insurers. However, 8% have “misinformed” their insurers about the drivers in their households, and

News Insurance

Double extortion: The new cyber threat

October 12, 2021 by Jason Contant

Your cyber clients may now be exposed to two risks in one, as the sophistication of ransomware attack patterns continue to increase. “There’s double extortion tactics which are just crippling organizations now,” said Greg Markell, president and CEO of Ridge

News InsuranceLegislation / Regulation

How insurers are changing their treatment of distracted driving

October 12, 2021 by Greg Meckbach

Some Nova Scotia motorists who are caught using their wireless handheld device while driving could face steeper hikes to their auto insurance premiums. In a decision released Oct. 4 , the Nova Scotia Utility and Review Board approved the Facility

News Insurance

Canadian auto production hit especially hard by semiconductor shortage

October 12, 2021 Ian Bickis - THE CANADIAN PRESS

TORONTO – To be an autoworker in Canada this year has meant living with a fair bit of uncertainty. “There’s no consistency,” said Mark Sciberras, president of the Unifor local branch at Ford Motor Co.’s Oakville, Ont. operations. “One week

insPRESS Insurance

InsureLine Acquires Majority Ownership in Clear Cut Insurance

October 12, 2021 InsureLine Brokers

PORT COQUITLAM, B.C., OCTOBER 12, 2021/insPRESS/ – Earlier this year Clear Cut Insurance joined InsureLine’s network as a franchise by becoming InsureLine Brokers (Clear Cut) (“Clear Cut”). InsureLine has now acquired a majority ownership in Clear Cut, which has offices

insPRESS Insurance

William Pay joins EFI Global as senior structural engineer in Atlantic Canada

October 12, 2021 EFI Global

TORONTO, ON, OCTOBER 12, 2021/insPRESS/ – EFI Global, a leading full-service international consulting firm specializing in forensic engineering, environmental, fire investigation and specialty consulting services, welcomed William (Bill) Pay, P.Eng., to the role of senior structural engineer in Canada. Pay

News Insurance

Digital service brokerage options on verge of major expansion

October 12, 2021 Jeff Buckstein

The digital revolution is expected to spread more rapidly and deeply into the insurance industry over the next few years, despite relatively modest demand from customers to date. “Brokers should be putting digital strategy as part of their overall business

News InsuranceLegislation / RegulationMarkets / Coverages

Why open banking could ‘terrify’ brokers

October 8, 2021 by Greg Meckbach

If open banking comes to Canada, this could make it easier for fintechs and banks to offer embedded insurance and it will be hard to stop firms from using open banking data for underwriting purposes, a technology executive predicts. Open

News Insurance

How auto insurance rates are trending in Alberta, Ontario and Atlantic Canada

October 8, 2021 by Jason Contant

Auto insurance rates plunged in Alberta and Ontario this spring, while rates stayed flat in Atlantic Canada, according to Q2 2021 results from’s latest Auto Insurance Price Index Report. In Alberta, rates decreased 11% quarter-over-quarter after a steep incline

News Insurance

Home insurance can be more expensive in smaller towns: experts

October 8, 2021 Salmaan Farooqui - THE CANADIAN PRESS

As some Canadians are priced out of larger cities and look to move to smaller communities, insurance experts say homebuyers should be aware that life in a small town can often mean higher home insurance premiums. According to financial products

insPRESS Insurance

IBAO Partners with Canadian Association of Black Insurance Professionals

October 8, 2021 IBAO

TORONTO, ON, OCTOBER 8, 2021 /insPRESS/ – The Insurance Brokers Association of Ontario (IBAO) is proud to announce its partnership with the Canadian Association of Black Insurance Professionals (CABIP)—a recently launched organization advocating for the representation, inclusion and advancement of Black

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News Insurance

Will cyber insurance become mandatory?

October 7, 2021 Canadian Underwriter Staff

Cyber insurance is set to become as essential as workers’ compensation insurance in the near future, a cyber insurance provider CEO has predicted. Vishal Kundi, CEO and co-founder of Toronto-based cybersecurity and insurance specialist MGA BOXX Insurance, told Canadian Underwriter