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News Brokers

Why brokers should ‘shoot the breeze’ with clients

September 25, 2018 by Greg Meckbach

While brokers communicate with clients for a variety of reasons, such as renewals and claims, “shooting the breeze” can be just as beneficial for the business, suggests a speaker scheduled to address next month’s Insurance Brokers Association of Ontario annual

News AssociationsBrokersInsuranceTechnology

Will consumers soon be able to access policy documents electronically?

September 6, 2018 by Jason Contant

How close is the industry to consistently allowing consumers to access insurance documents electronically, such as by email? “It’s a bit of a hodge podge out there at the moment,” Colin Simpson, CEO of the Insurance Brokers Association of Ontario

News BrokersInsuranceProfessional DevelopmentTechnology

Why IBAO decided to move CAIB exams online

August 16, 2018 by Jason Contant

The Insurance Brokers Association of Ontario (IBAO) is anticipating “significant” time and cost savings as the exams for the Canadian Accredited Insurance Brokers (CAIB) program move to a “fully digital experience” in the province by December. “We’ll no longer be

News Brokers

The key for brokers to stand out from the competition

June 11, 2018 by Greg Meckbach

For property and casualty insurance brokers, providing “exceptional customer service” is at least as important as the insurance products themselves, suggests one underwriter. “There are a lot of people out there who sell insurance,” Jenny Hallahan, manager of underwriting for

News AssociationsBrokersInsuranceTechnology

Major agreement toward resolving broker-carrier data exchange issues

May 29, 2018 by Jason Contant

Key players in Canada’s P&C industry have reached an agreement to pursue an application programming interface (API) hub solution, called the BrokerFlow solution, to solve the current data connectivity gap between insurers and brokers. The “solution phase” is set to

News AssociationsBrokersInsurance

Ontario brokers asked to educate election candidates

May 28, 2018 by Greg Meckbach

To prepare for the June 7 Ontario election, brokers should be prepared to explain very basic concepts about the property and casualty insurance industry to political candidates, a former head of the provincial brokers’ association suggests. Many election candidates “don’t

News BrokersMarkets / CoveragesProducts

Do sophisticated water models select against smaller insurers?

May 22, 2018 by Jason Contant

The sophistication of technology for rating overland flood could conceivably lead to smaller insurers ending up with a disproportionate share of flood risks on their books in the event of a cat, which could spell trouble for consumers. Insurance Brokers

News BrokersInsuranceMarkets / Coverages

Brokers worried that Ontario auto problems will force companies to exit market

May 11, 2018 by Jason Contant

Brokers in Ontario are concerned that if auto insurance in the province remains unsustainable, companies may start to leave the market. Traci Boland, chairwoman of the Insurance Brokers Association of Ontario (IBAO), spoke to Canadian Underwriter Thursday about trends in

News AssociationsInsuranceTechnology

Industry close to consensus on insurer-broker connectivity

May 2, 2018 by Jason Contant

The insurance industry in Canada is getting close to consensus on connectivity between insurance brokers and carriers, an Applied Systems executive said Tuesday at the company’s Executive Symposium in downtown Toronto. “I truly believe that we are fairly close to

News InsuranceTechnology

16 carriers support broker study on API data connectivity

April 30, 2018 by David Gambrill

Ontario brokers have garnered the support of at least 16 insurance companies and “all key broker technology vendors” to participate in a study on data connectivity. The study includes discussion about an Application Programming Interface (API) tech model that would

News Insurance

Mandatory corporate diversity policies soon to be Canada-wide

April 25, 2018 by Greg Meckbach

Amid discussion that insurance industry executives are disproportionately male in an industry composed primarily of women, a proposal to mandate diversity policies for boards of Canadian corporations is one step closer to becoming law. The House of Commons voted April

Ontario legislature at Queen's Park in Toronto, Ontario government
News EmploymentInsuranceLegislation / Regulation

What Ontario’s budget means for women in the province’s P&C industry

April 2, 2018 by Greg Meckbach

Fair wages for women is becoming a “bigger issue” in the insurance industry, says Colin Simpson, CEO of the Insurance Brokers Association of Ontario. “There is proven disparity in the marketplace” between men’s and women’s salaries, Simpson told Canadian Underwriter