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Brokers
Only 42% of polled Ontarians aware of upcoming auto insurance reforms: IBAO
May 25, 2016 by Canadian UnderwriterConsumer awareness of auto insurance reforms in Ontario – many of which come into force June 1 – is far from complete, with just four in 10 survey respondents reporting they are aware of the changes. Based on feedback from…
Insurance Brokers Association of Alberta (IBAA) 2016 Convention and AGM, May 15-18, 2016
May 15, 2016 by Canadian UnderwriterInsurance Brokers Association of Alberta (IBAA) held a successful 2016 Convention and AGM in picturesque Banff, Alberta, May 15 to 18. The convention’s theme was ‘connect’ and included a robust agenda including Keynote (Richard Bertram, WestJet’s vice president, communications and community…
Ontario auto reforms should help cut transaction costs: Cameron
May 11, 2016 by Angela StelmakowichIf things unfold as intended, Ontario’s auto insurance reforms should help reduce transaction costs that have long been an issue for the entire system, James Cameron, president of Cameron & Associates, suggested during an industry event Tuesday. “The goal of…
The Digital Edition of Canadian Underwriter magazine’s April 2016 issue
April 19, 2016 Canadian Underwriter magazineDigital Edition below ↓ Cover Story – ‘Channel Surfing’ The look of property and casualty insurance in Canada, as elsewhere, is undergoing a makeover. Once-defined channels are being transformed. To some customers, where they get insurance is not as important as…
U.S. peer-to-peer car rental marketplace begins international expansion in Canada insured by Intact
April 19, 2016 by Canadian UnderwriterPeer-to-peer car rental marketplace Turo is continuing its drive beyond U.S. borders, announcing Tuesday the company’s international expansion in Canada insured by Intact Financial Corporation (IFC). The move will empower “Canadians to turn their idle cars into earning engines and…
Reinsurance market has ‘awful lot of choice for buyers:’ Aon Benfield Canada CEO
April 13, 2016 Greg Meckbach, Associate EditorThere has been “very little impact,” on brokers and cedents, from recent mergers and acquisitions in the reinsurance industry, a speaker suggested Wednesday at Insurance Bureau of Canada’s Financial Affairs Symposium. “I think, a little surprisingly, to date there has…
RMS launches app to model ‘cat-in-a-box’ deals
April 7, 2016 by Canadian UnderwriterRisk Management Solutions, Inc. (RMS) announced on Thursday that it has released the “first ever” app to model ‘cat-in-a-box’ deals. The cloud-based app extends the ability to independently assess and underwrite parametric contracts from a small group of cedant, brokers…
Aon to launch new global reinsurer trading platform
April 5, 2016 by Canadian UnderwriterAon Benfield will launch its new global reinsurer trading platform Apr. 11, a move meant to enhance placements with real-time data when ABConnect Placements goes live for July 1 treaty placements, the global reinsurance intermediary and capital advisor of Aon…
Heart of the Brokerage
April 1, 2016 Renée Durepos, Senior Vice President, Keal TechnologyBeyond brokers themselves, good and accurate data is the lifeblood of brokerages today. Data is vital to meeting customer needs both today and in the future, meaning that when a broker management system conversion is needed, protecting and maintaining the integrity of that information is essential.
Things to Consider
April 1, 2016 Brian Rosenbaum, Senior Vice President, Financial Services Group,and National Director, Legal and Research Practice, Aon Reed Stenhouse Inc.The Internet of Things brings with it both risks and rewards. But given the exclusions and wording issues in a number of policies, coupled with the paucity of judicial analysis, policyholders should not assume that coverage is available in the event of an IoT-related loss.
Who Pays for Recovery?
April 1, 2016 Clay Germain, President, Insurance Brokers Association of British ColumbiaCanada can learn from the earthquake experience and loss elsewhere. Brokers in British Columbia are heartened by growing government support around prevention and recovery, but believe a shift from post-event disaster funding to securing funding sources before an event occurs will only help to further enhance resilience and reduce losses.
Technology playing ever larger role in U.S. specialty lines carriers’ ability to attract and retain clients: Novarica
March 30, 2016 by Canadian UnderwriterSpecialty lines in the United States continue to be hypercompetitive, with technology playing an ever larger role in insurers’ ability to attract, retain and serve clients and brokers (agents) profitably, according to a new report from Novarica. The Business and…