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Opinion: What’s the future of remote work for brokers post-pandemic?

June 17, 2020 by Nick Novinger, Regional Manager (Quebec), Canadian Insurance Brokers Inc.

One question top of mind for brokers and their clients is: Will this remote work environment be something that we’ll see for the long term? Maybe not entirely, but there are parts we can take to make the broker world…

News Insurance

What a politician says he’ll do if insurer rebates don’t measure up

June 17, 2020 by Adam Malik

Threats are being lobbed at auto insurers by an Ontario member of parliament who indicated that insurers not offering satisfactory relief measures could be called out and face repercussions. In the latest salvo from Ontario Finance Minister Rod Phillips —…

News ClaimsClaims CanadaInsuranceLegal

How Travelers won appeal over Ontario accident benefits dispute

June 17, 2020 by Greg Meckbach

When an Ontario woman was catastrophically injured in an accident in a Nunavut-plated vehicle in Nunavut, that vehicle’s insurer was initially told it had to pay Ontario accident benefits to the claimant. But in Travelers Insurance Company of Canada v.…

News Insurance

Intact predicts two-year hard market in auto

June 17, 2020 by Greg Meckbach

As the number of kilometres driven drops during the pandemic, consumers can expect to get a break on their auto insurance – and expect a hard market to pick up after the pandemic, Intact Financial CEO Charles Brindamour warns. “We…

News Insurance

Manitoba auto insurance rates to drop 10 per cent, pending regulator approval

June 17, 2020 by THE CANADIAN PRESS

WINNIPEG – Manitoba drivers could soon be paying less for their vehicle insurance. Manitoba Public Insurance has applied for an average 10.5 per cent cut in overall rates, which it says would save the typical passenger vehicle owner about $130…

News Insurance

Hot line: Why residential fire frequency is up

June 16, 2020 by Greg Meckbach

The surge in people working from home has brought an increase in home cooking fires, risk and insurance professionals observe. “You are seeing a spike in residential fires in condos and rental units because people are at home more and…

News BrokersInsurance

Why brokers should ask clients about trailers

June 16, 2020 by Greg Meckbach

As pandemic restrictions start to loosen and campgrounds open for the summer, brokers might want to ask home and auto customers if they own trailers. “It’s up to the broker to find out what type of trailer a customer owns,…

News BrokersMergers and Aqcuisitions

Andrew Agencies buys Saskatoon brokerage with two offices

June 16, 2020 by Greg Meckbach

Saskatoon Insurance Agencies, which places home, auto, commercial and farm coverage, has been acquired by Andrew Agencies Ltd. effective June 1. Based in the Manitoba community of Virden, about 80 kilometres west of Brandon, Andrew now has 20 offices in…

News BrokersInsuranceMarkets / Coverages

How the economic recession changed the game for Canadian brokers, insurers

June 16, 2020 by Adam Malik

The COVID-19 pandemic has pushed broker to be more than just advisors of insurance coverage — they’re offering broader financial guidance and services to their clients. Meanwhile, the economic recession resulting from the pandemic shifted the carriers’ focus towards “operational…

News Insurance

B.C. report says condo insurance market ‘unhealthy,’ premiums up 40 per cent

June 16, 2020 by THE CANADIAN PRESS

VANCOUVER – A report commissioned by the B.C. government says insurance premiums for condominium buildings have increased by as much as 40 per cent year over year while deductible costs have tripled. Blair Morrison, chief executive officer of The B.C.…

News CatastrophesClaimsClaims CanadaInsurance

Why the latest Calgary hail storm could cost $1 billion

June 15, 2020 by Greg Meckbach

The thunderstorm that hit Calgary this past Saturday evening could be more expensive to the industry than the 2014 Airdrie, Alta., hail storm that cost P&C insurers more than $500 million, an industry watcher suggests. Hail the size of tennis…

News AdjustersClaimsInsurance

COVID-19 has accelerated changes to the claims industry

June 15, 2020 by Adam Malik

Auto insurance customers should enjoy a shorter claims journey if pandemic-related changes stick around, insurance pros told Canadian Underwriter recently. Social distancing rules related to the COVID-19 pandemic have forced the insurance industry, along with its customers, to adopt technology…