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Pot legalization could increase auto accidents, top insurer warns

February 13, 2018 by Greg Meckbach

As Canada’s senators debate a bill that would legalize recreational marijuana, Canada’s largest property and casualty insurer is concerned about the “potential” for more auto collisions arising from the actions of stoned drivers. In its management discussion and analysis of…

News InsuranceLegalMarkets / Coverages

Sexual harassment lawsuit? Why it pays for a risk manager to be a pack rat

February 13, 2018 by Greg Meckbach

Risk managers who retain insurance policies for only seven or 10 years need to rethink this practice, an independent risk consultant warns. Having a copy of a 15- or 20-year-old liability insurance policy is “like owning a bank note in…

News InsuranceProfessional Development

Advice for young women looking to get into the broker channel

February 13, 2018 by Jason Contant

Ashley Holmes, a 33-year-old operations manager at Roughley Insurance Brokers in Oshawa, Ont., has three pieces of advice for other women looking to get into the insurance industry: don’t try to be a chameleon and be something you’re not; speak…

News InsuranceTechnology

Portals are dead. Brokers have moved on to real-time.

February 13, 2018 by David Gambrill

As insurers move away from their legacy systems and onto more flexible platforms such as Guidewire and Duck Creek, the days appear numbered for portal solutions. Real-time data exchange is now front and center as a priority for the Insurance…

News InsuranceMarkets / CoveragesTechnology

GM brings Maven car-sharing startup to Toronto

February 13, 2018 by David Paddon - THE CANADIAN PRESS

TORONTO – General Motors Co. is bringing its Maven car-sharing business to Canada for the first time as part of the Detroit-based company’s broader strategy for navigating through a rapidly changing automotive world. Toronto will be the first city outside…

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

A new way for brokerages to assign clients to advisors

February 12, 2018 by Jason Contant

An Ontario brokerage has done away with the traditional alphabetized way of assigning clients to brokers. Under the alphabetized approach, sometimes referred to as the “alpha split,” a brokerage divides its clients evenly by the number of account managers it…

News InsuranceMarkets / CoveragesTechnology

Intact sounds alarm on escalating collision repair costs

February 12, 2018 by Greg Meckbach

Escalating collision repair costs have commended the attention of Intact Insurance, as company officials continue to express disappointment with the Toronto-based insurer’s financial results in personal auto. Company officials said they had “unsatisfactory” performance in personal auto, with the chief…

News InsuranceLegalLegislation / Regulation

Courts flip-flop on Allstate employment case

February 12, 2018 by David Gambrill

Allstate Insurance Company of Canada was not entitled to change the terms of employment of one of its sales agents during a 24-month “working notice” period, the Court of Appeal for Ontario has ruled, reversing a lower court decision that…

News InsuranceMarkets / Coverages

Why Intact plans to raise auto insurance premiums

February 12, 2018 by Greg Meckbach

Intact Financial Corp. plans to apply nation-wide for rate increases in personal auto, a move to improve the firm’s profitability in personal auto insurance. “In terms of additional rate actions in 2018, we are expecting a further 5% [increase] in…

News InsuranceMarkets / Coverages

LCBO chooses Shopify to run online cannabis sales

February 12, 2018 by The Canadian Press

TORONTO – The Ontario government has inked a deal to use Shopify Inc.’s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province’s sole distributor of legal recreational marijuana. The Ontario Cannabis…

News InsuranceLegislation / Regulation

Economical policyholders reach demutualization agreement in principle

February 9, 2018 by Greg Meckbach

Economical Insurance appears to be a step closer to demutualization, but a conversion proposal has been held over until June 30, Economical said Thursday. A proposal to convert Waterloo, Ont.-based Economical to a stock company was originally due to the…

News CatastrophesInsuranceReinsurance

Insurers urged to play a role in rebuilding economies after disasters

February 9, 2018 by David Gambrill

Insurers should be giving more thought to planning how to rebuild economies in the aftermath of a crisis, a reinsurance executive urges. “To my mind, what is often seemingly forgotten is the piece of economic resilience,” says Alex Kaplan, head…