Canadian Underwriter

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Brokers

Rideshare driver calls his insurance company after a minor accident
News BrokersClaimsInsurance

Brokers: how to advise rideshare drivers on their deductibles

March 15, 2024 Philip Porado

Drivers working for rideshare and delivery companies must be careful when setting deductibles on personal auto coverage. And they need to make sure their personal insurers know they’re doing rideshare work and carry the appropriate endorsements. A lot of drivers

Rideshare driving checking on his app to get a new customer
News BrokersClaimsInsuranceLegal

Do gig-driver clients have the right auto coverage?

March 11, 2024 Philip Porado

With accident claims up sharply post-pandemic, transportation network companies (TNCs) like Uber, Lyft and others are aggressively managing the insurance coverage they offer to gig drivers to ensure they have a handle on fraud. “You’re going to get some claims

Two companies signing an agreement to merge
News BrokersInsurance

Two firms complete Ontario acquisitions

March 8, 2024 Philip Porado

BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides

A person's hand breaking the window of a vehicle for the purpose of auto theft
News ClaimsInsurance

How auto theft, inflation and vehicle complexity boost claims costs

March 6, 2024 Philip Porado

Late last year, Toronto’s police department wrapped an auto theft intervention, codenamed Project Stallion, that recovered 1,080 vehicles stolen citywide with a combined value of $59 million. That works out to just shy of $55,000 per vehicle. Auto theft is

Car insurance application
News BrokersInsuranceMarkets / CoveragesTechnology

FSRA’s plans for auto coverage regulation

March 5, 2024 Philip Porado

Ontario’s auto insurers shouldn’t expect changes to the ‘take all comers’ or Unfair or Deceptive Practices Act rules, Michelle Dodokin, head of auto insurance supervision at Ontario’s Financial Services Regulatory Authority (FSRA), told a breakout session at Monday’s 2024 FSRA

Stressed out over bills piling up
News BrokersClaimsClaims CanadaInsuranceMarkets / Coverages

Why clients are missing insurance payments — and risk policy cancellation

March 4, 2024 by Jason Contant

One Ontario brokerage has seen an increase in the number of clients missing insurance payments as well as cancellation notifications from insurers for non-payment.  For Mitch Insurance, the number of clients missing insurance payments has increased 104% since 2019. While

Roadblocks to cyber policy sales
News BrokersInsuranceTechnology

Biggest barriers to selling cyber policies

March 1, 2024 David Gambrill

Product complexity remains a huge obstacle to selling cyber insurance to neophyte business clients, brokers told Canadian Underwriter in a January online survey. A stronger emphasis on cyber education — to clients, brokers, and underwriters alike — is critical to

Hand holding two jigsaw puzzles pieces.
News BrokersEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Navacord’s first deal of the year 

February 29, 2024 by Jason Contant

Commercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance.  Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press

Businessman using a computer and dashboard RPA
News BrokersInsuranceTechnology

Why brokers are embracing the ‘bots

February 27, 2024 by Jason Contant

Robotic process automation (RPA) used to automate brokers’ repetitive tasks has become a much more mainstream technology over the past year or two, the co-founder of software robot tech company Quandri told Canadian Underwriter in an interview. “A couple of

Saving coins to represent high cost insurance coverage for cyber attacks
News BrokersClaimsInsurance

Pricing still affects brokers’ ability to sell cyber

February 27, 2024 David Gambrill

To the surprise of no one in the broker channel, the ongoing hard market in cyber still plays a significant role in why clients decline to buy coverage. About 40% of brokers responding to a recent CU survey selected ‘Price

Beers at a big event
News InsuranceTechnology

Here’s what creates risks for hospitality providers in 2024

February 26, 2024 Philip Porado

As Canada eases out of the COVID-19 pandemic, the country’s restaurateurs, hoteliers, and event venue operators face a multitude of risks. Changes over the past four years have hospitality providers swimming in a toxic soup of pandemic-stunted social habits, inflation-dented

Hybrid workplace in action
News BrokersInsurance

Employees may dig their heels in on hybrid work

February 22, 2024 Alyssa Di Sabatino

Working five days a week in an insurance office is a thing of the past, industry experts are saying. But P&C industry leaders are still debating whether client experience, workplace culture, and productivity gels with a hybrid work model. “Within