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News BrokersClaimsInsurance

Crash-prone cars you may think twice about underwriting

February 21, 2020 by Adam Malik

Mid-sized and luxury sports cars are the most collision-prone vehicles on the road, including the Hyundai Sonata, Infinity Q50, Lexus GS 350, and the Acura TLX, according to new research by QuoteWizard.com, an online insurance comparison platform. At the other

News AdjustersBrokersClaimsInsurance

Do insurance pros have a duty to restore a client’s well-being after a loss?

February 20, 2020 by Adam Malik

Brokers are taught the principles of indemnity early in their training: Return the client to the same financial position they were in prior to the loss. But what about their clients’ mental well-being? Can the industry restore that to what

News BrokersInsuranceMergers and Aqcuisitions

Don’t make this common M&A mistake

February 20, 2020 by Adam Malik

Growing your business doesn’t necessarily mean you’re creating more value for it. That’s a common mistake people make during merger and acquisition deals, according to one expert. Value is created only when the business gets a return on capital in

News BrokersClaimsInsurance

How today’s rail blockades could change tomorrow’s policies

February 19, 2020 by Adam Malik

Based on Canada’s railway blockades, commercial clients that haven’t considered insurance coverage in the event of unforeseen disruption might be more keen to discuss their options going forward, according to industry experts. The ongoing railway blockades across the country –

News AssociationsBrokersInsuranceMarkets / Coverages

Brokers on what would help bring down skyrocketing condo insurance premiums

February 12, 2020 by Jason Contant

Insurance should be mandatory for all condo unit owners in the condo corporation, an executive with the Insurance Brokers Association of B.C. (IBABC) told Canadian Underwriter Monday. “Strata/condo building managing councils should encourage their member unit owners to vote in

News AssociationsBrokersInsuranceMarkets / Coverages

Two ways to address rising condo insurance premiums

February 11, 2020 by Jason Contant

One broker association is calling for consultation among all key stakeholders to discuss owner liability in condo corporations, with a focus on proposed achievable legislative action. As condominium (strata) insurance premiums and deductibles continue to rise across the country, the

News AdjustersBrokersClaimsInsurance

How are you managing your mental health?

February 11, 2020 by Adam Malik

Insurance professionals can run the gamut of emotions over the course of a claim, which is what makes managing mental health a challenge, according to industry experts. Whether it’s the broker fielding the call from a panicked client to the

News AssociationsBrokersInsuranceLegislation / Regulation

The potential downside for brokers of ICBC’s new care-based model

February 10, 2020 by Jason Contant

The government of British Columbia’s recent announcement that it will be removing lawyers and legal costs from the system to reduce insurance premiums by about 20% and increase care benefits has been met with approval from the provincial brokers association.

News AssociationsBrokersInsuranceLegal

What brokers and trial lawyers think about ICBC’s new care-based model

February 7, 2020 by Jason Contant

The government of British Columbia has announced it will be “removing lawyers and legal costs from the system” to lower public auto insurance rates by about 20%, a move applauded by the province’s brokers association but panned by trial lawyers.

News Mergers and Aqcuisitions

Brokerlink, Hub announce latest acquisitions

February 5, 2020 by Jason Contant

BrokerLink, one of the largest property and casualty insurance brokerages in Canada, and a subsidiary of Intact Financial Corporation, has acquired Nova Scotia brokerage Major Brothers Limited. Located in Halifax and Dartmouth, Major Brothers has been providing personal and commercial

News BrokersInsuranceRisk

Brokers urged to help their commercial clients using these traditional, proven risk assessment tools

February 4, 2020 by David Gambrill

In addition to using modern data analytics, commercial brokers can use traditional, proven risk assessment tools to help business clients understand and cope with price increases in today’s hard market, says a veteran of three hard markets. Inspections have been

News BrokersInsuranceMergers and AqcuisitionsTechnology

Aon acquires Canadian-based cyber security firm

February 4, 2020 by Jason Contant

Aon plc has announced the acquisition of Cytelligence, a Canadian-based cyber security firm with deep expertise in cyber incident response and digital forensic investigations. London, UK-based Aon said Tuesday the acquisition will help the brokerage expand its current coverages within