News
How Trump’s ethical follies can benefit Canada’s P&C industry
October 29, 2019 by David GambrillAll 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.…
Ontario’s regulator explains how principles-based regulation still has teeth
October 29, 2019 by Adam MalikCiting 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…
What stops this insurer from measuring effectiveness of winter tires
October 29, 2019 by Greg MeckbachMore 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…
How B.C. plans to address nat cat risk management
October 29, 2019 by Dirk Meissner - THE CANADIAN PRESSVICTORIA – 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…
Why insurers can’t afford to have Canadians drown in debt
October 28, 2019 by David GambrillLow 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…
Do you trust insurers with your client’s data?
October 28, 2019 by David GambrillAlongside 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…
$2.2-million credit score class action settlement with The Personal approved
October 28, 2019 by Greg MeckbachA $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…
Ontario auto regulator: What does it mean to “pay too much?”
October 28, 2019 by Adam MalikWith 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…
Final pieces of storm toppled crane removed off top of Halifax building
October 28, 2019 by THE CANADIAN PRESSHALIFAX – 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…
How much investors have sunk into insurtech
October 25, 2019 by Greg MeckbachInsurtechs 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…
Aviva’s approach to the small business portal experience
October 25, 2019 by Jason ContantBrokers 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…
Expert witness rule in auto personal injury lawsuits deemed unconstitutional
October 25, 2019 by Greg MeckbachA 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…