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How Trump’s ethical follies can benefit Canada’s P&C industry

October 29, 2019 by David Gambrill

All the talk in the White House these days about “whistleblowers” and “no quid pro quo” echoed in the discussions about ethics last Thursday between Canadian insurers and their brokers at the 2019 Insurance Brokers Association of Ontario (IBAO) Convention.…

News BrokersInsurance

Ontario’s regulator explains how principles-based regulation still has teeth

October 29, 2019 by Adam Malik

Citing a needed “culture change” as just one of the reasons, the body that regulates insurance in Ontario is moving towards being a principles-based group instead of one that is focused on a set of rules. And for those who…

News AdjustersClaims CanadaInsuranceLegislation / Regulation

What stops this insurer from measuring effectiveness of winter tires

October 29, 2019 by Greg Meckbach

More than half a million Manitoba motorists are taking advantage of a winter tire financing program, but the jury is still out on whether the program has reduced accident frequency or severity. There are about 580,000 registered passenger vehicles in…

News AdjustersCatastrophesClaimsClaims Canada

How B.C. plans to address nat cat risk management

October 29, 2019 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – The challenges of preventing and responding to devastating wildfires and floods in British Columbia and the prospect of more disasters to come has prompted the government to reassess its emergency management laws. The Emergency Program Act needs to…

News Insurance

Why insurers can’t afford to have Canadians drown in debt

October 28, 2019 by David Gambrill

Low interest rates in Canada are here to stay, primarily because of very high debt levels, David Chilton, keynote speaker at the 2019 Insurance Brokers Association of Ontario (IBAO) Conference, said in Toronto last Wednesday. “Low interest rates are here…

News Insurance

Do you trust insurers with your client’s data?

October 28, 2019 by David Gambrill

Alongside the increasing importance of data collection is a growing concern among brokers that insurers could potentially use that very same data against the brokers who collected it. Speaking strictly on background, brokers at the 2019 Insurance Brokers Association of…

News AdjustersClaims CanadaInsuranceLegal

$2.2-million credit score class action settlement with The Personal approved

October 28, 2019 by Greg Meckbach

A $2.2 million settlement of a class-action privacy lawsuit against The Personal has been approved by a judge, plaintiffs’ law firm Waddell Phillips Professional Corporation announced Monday. The lawsuit arose after The Personal asked some auto claimants if it could…

News BrokersInsurance

Ontario auto regulator: What does it mean to “pay too much?”

October 28, 2019 by Adam Malik

With all sides seemingly in agreement that auto insurance in Ontario needs a joint effort to get back in shape, the province’s regulator is poised to make it happen. And this requires a review of how much the auto product…

News CatastrophesClaims CanadaEngineering

Final pieces of storm toppled crane removed off top of Halifax building

October 28, 2019 by THE CANADIAN PRESS

HALIFAX – The final pieces of a crane that collapsed onto a building in Halifax last month, during post-tropical storm Dorian, have been removed. A government release says the pieces that were lying on the top storey of the Olympus…

News InsuranceTechnology

How much investors have sunk into insurtech

October 25, 2019 by Greg Meckbach

Insurtechs like one Canadian startup in particular are letting brokers provide better service, but the sector as a whole contains some money pits for investors, Willis Towers Watson suggested in a report released Wednesday. “Unquestionably a good number of InsurTechs…

News BrokersInsuranceTechnology

Aviva’s approach to the small business portal experience

October 25, 2019 by Jason Contant

Brokers have long expressed concerns about digital portals, from been kicked out as they near the end of a submission to the amount of time it takes to log into each insurer’s portal. In Canadian Underwriter’s recently-released 2019 National Broker…

News AdjustersInsuranceLegal

Expert witness rule in auto personal injury lawsuits deemed unconstitutional

October 25, 2019 by Greg Meckbach

A 22-year-old Supreme Court of Canada ruling in favour of a marine cargo insurer is a sword that could cut the other way for Canadian auto insurers. The British Columbia government brought in a rule this past March limiting parties…