Canadian Underwriter


Moving office sign. Clipart image isolated on blue background.
News BrokersCatastrophesClaimsInsuranceLegislation / Regulation

Floods, wildfires: How an incorrect address cost a broker his job

December 6, 2023 by David Gambrill

Insurance Council of British Columbia has fined a former broker $1,500 for failing to notify his commercial client that the company’s address change — which located the business in a floodplain — triggered a lack of coverage during a subsequent

Hand holding business card
News BrokersInsuranceLegislation / Regulation

Broker fined for not disclosing disciplinary history

July 25, 2023 by David Gambrill

A Manitoba broker has been fined $500 and ordered to pay investigation costs of $2,000 for failing to disclose to the province’s broker regulator that he had previously been the subject of a disciplinary investigation by B.C.’s broker regulator. “The

Third party person icons interconnected by arrows
News AssociationsBrokersCommercial LinesInsuranceMGAsRisk

How insurers will handle new third-party risk-management guideline

May 18, 2023 by Alyssa DiSabatino

Canada’s financial solvency regulator’s new guideline for managing risks associated with third parties (including brokers) will require insurers to find a ‘balance point’ for compliance, one industry expert said.  The Office of the Superintendent of Financial Institutions Guideline B-10: Third-Party

A broker being lifted up by her team and carriers.
News BrokersInsuranceTechnology

National Broker Survey: Top tech solution brokers want from carriers

May 1, 2023 Philip Porado

Brokers worried about challenges faced when placing business during a hard market are looking to carriers for help with online claims service capabilities, said respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey polled 150 brokers nationwide about challenges

Electric socket with a plug. Connection and disconnection concept. lines, triangles and particle style design. Illustration vector
News BrokersInsuranceTechnology

How much time and effort brokers could save with API connectivity

February 14, 2023 by David Gambrill

Adopting an Application Programming Interface (API) solution for broker-carrier connectivity will significantly reduce errors and save brokers between 11% and 17% of effort during the quoting process, according to a white paper released Tuesday by Insurance Brokers Association of Canada

Stack of green compliance and rules books
News AssociationsBrokersInsurance

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

Portrait of Asia Businessman sitting and working hard on the table with Trading graph on the cityscape over front of computer screen in work place at late with serious action
News BrokersInsuranceMarkets / Coverages

Top 3 concerns of Canadian brokers

March 21, 2022 by David Gambrill

Canada’s hard market continues to be the Number 1 concern of brokers right now, but with the end of many COVID restrictions, brokers are starting to worry more about the growth of direct-to-consumer distribution models. Market consolidation is slowly but

News Insurance

Paid The future of premium payments

August 1, 2021 Primaco

How COVID-19 paved the way for easier payments; less risk to the broker As Canada prepares itself for a possible third COVID-19 wave, brokers are facing the reality of trying to manage the economic impact on themselves and their clients.

News BrokersInsuranceLegislation / Regulation

Auto dealer penalized for use of insurer’s internet quoting system

July 16, 2021 by David Gambrill

Alberta’s broker regulator has issued an $8,000 civil penalty against an auto dealership, Avenue Motors Ltd., after an insurance company complained about alleged misuse of the insurer’s online quote generator by the dealership’s employees. The dealership holds a Restricted Corporate

News BrokersInsuranceLegalLegislation / Regulation

Insurance certificate fraud costs ex-broker $26K

May 5, 2021 by David Gambrill

Alberta’s broker regulator has issued a civil penalty of $26,000 against a former broker found to have issued false insurance certificates to clients as “placeholders” until coverage was bound — which it never was. The penalty was based on 52

News Insurance

Court sides with condo insurers that used the wrong policy to deny a $4.4-million water damage claim

January 20, 2021 by David Gambrill

Six subscription policy insurers that denied coverage to a condo corporation in a $4.4-million water damage claim — a denial based on reference to the wrong policy — have had the matter tossed out of court. The Court of Queen’s

News Insurance

Digital brokers: Should you build your own tech, or buy someone else’s?

October 22, 2020 by David Gambrill

Okay, 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