News
Another way to show off your expertise
June 26, 2019 by Adam MalikBrokers wanting to stay a step ahead of the competition and stand out from the crowd need to consider an untapped field: video. It’s an area with huge potential for insurance brokers, said Garrett Wasny, a Vancouver-based technology skills advisor…
Could interest rates drop next month?
June 26, 2019 by Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON – Federal Reserve Chairman Jerome Powell said Tuesday the economic outlook has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates. Speaking to…
Five bold moves insurers can take to increase profits
June 25, 2019 by Jason ContantEconomic profit is unevenly distributed among insurance companies, but five bold moves can help carriers catch up, McKinsey & Company said in a paper released late last week. These moves include shifting resources between businesses, reinvesting a substantial share of…
Why LAT’s first catastrophic impairment case must be re-heard
June 25, 2019 by Greg MeckbachThe Ontario Licence Appeal Tribunal [LAT]’s first ruling on a disputed catastrophic impairment claim is now officially quashed, the province’s appeal court confirmed in a decision released Friday. As it stands, the disputed claim now has to go before a…
How bad can it get? Industry’s early 2019 results trigger insolvency watch
June 25, 2019 by David GambrillPosting its lowest level of profitability in almost 20 years, the Canada’s property and casualty industry’s ugly financial results in 2019 Q1 have raised concerns about an elevated insolvency risk. Canada has not had an insurer go bankrupt for more…
Second B.C. wildfire in two days
June 25, 2019 by THE CANADIAN PRESSVANCOUVER – Crews with the B.C. Wildfire Service are battling another small but worrisome blaze on the province’s south coast. The fire was reported Monday afternoon on Cecil Hill near Pender Harbour on the Sechelt Peninsula. It is not threatening…
Silvy Wright appointed head of IBC’s board of directors
June 25, 2019 by Adam MalikNorthbridge Financial President and CEO Silvy Wright has been elected to lead the Insurance Bureau of Canada’s board of directors, effectively immediately. IBC is in a unique position, Wright noted in a statement, as the industry faces an “unprecedented pace”…
What insurers requested of police chiefs
June 24, 2019 by Adam MalikInsurers are calling on greater collaboration with law enforcement to help fight auto insurance fraud. The cost of auto insurance fraud is overwhelming, and no one industry can tackle it alone, Don Forgeron, president and CEO of the Insurance Bureau…
The new trend for handling disputed property claims
June 24, 2019 by Greg MeckbachWhat happens when your client’s property is damaged and the insurer disagrees with the claimant on how much work is needed to restore it? Some of these claims disputes can result in lawsuits, when the claimant brings the insurer to…
What cabinet upheaval means for auto reform progress
June 24, 2019 by Adam MalikOntario Premier Doug Ford has made drastic changes to his cabinet just months after including auto reforms in its first budget. Taking over as finance minister – and in effect, the auto insurance file – will be Rod Phillips. The…
How much of your salary would you give up for more meaningful work?
June 24, 2019 by Jason ContantHow much would you give up in annual pay for more meaningful work at your brokerage? A recent study of 1,500 Canadian office workers found that almost half of them would give up nearly $9,000 in an annual pay raise…
Cool weather calms B.C. wildfire, traffic disrupted
June 24, 2019 by THE CANADIAN PRESSVANCOUVER – A small wildfire is burning just above the highway connecting Vancouver and Whistler. The fire along Highway 99, the Sea-to-Sky corridor, broke out early Sunday morning on a steep, rocky slope between Horseshoe Bay and Lions Bay. The…