Segment
Brokers
Game On
April 1, 2014 Brenda Rose, Vice President and Partner, FCA Insurance Brokers and Technology Champion, Insurance Brokers Association of CanadaBusinesses looking to achieve long-term success need to keep their heads in the game. For brokers and insurers to both win, things must advance beyond creating effective interaction between systems to a common form of data exchange where information flows between multiple systems.
Looking Skwyward
April 1, 2014 Gord Enders, President, Insurance Brokers Association of Alberta and President, Direct-Line InsuranceConsumers have been added to the mix of insurers and intermediaries looking to the skies and crossing their fingers in hopes of a mild storm season. That may not be surprising, given that it is not uncommon in Alberta for home premiums to have increased 20% to 30% since January.
Moves and Views
April 1, 2014 by Canadian Underwriter1 Toronto commercial broker Aligned Insurance Inc. officially launched operations in Ontario March 25. Led by president and chief executive officer Andrew Clark [1], Aligned Insurance is targeting organizations in and around the Greater Toronto Area. The new independent firm…
People First
April 1, 2014 Greg Meckbach, Associate EditorGinny Bannerman, recipient of the CIP Society’s established leader award, picked up some leadership attributes from her father while he was running the family brokerage that still serve her today.
Ottawa proposes broader powers to regulate conversion of mutual insurance companies
March 31, 2014 by Canadian UnderwriterEconomical Insurance announced Monday it “welcomed” the federal government’s recent proposal to broaden the cabinet’s power to make regulations on the conversion of mutual insurance companies into companies with common shares. On Friday, federal Conservative MP Peter Van Loan tabled…
Breaking Bad
March 31, 2014 Kirsten Hoedlmoser, Chemical and Environmental Engineer-In-Training, Giffin Koerth Forensic EngineeringHow clean is “clean” when it comes to property damage and the health side effects associated with illicit meth labs?
B.C. unprepared for major quake: Auditor General
March 31, 2014 byEmergency Management BC is not prepared should a catastrophic earthquake occur in British Columbia, a new report from the province’s auditor general has concluded. Auditor General Russ Jones also found that neither the province nor EMBC has made preparing for…
Water damage accounts for over half of home claims: Aviva
March 31, 2014 byMore than half of all home insurance claims last year involved water damage, with water damage claims payouts rising 69% over 2012, Aviva Canada said in a release in late March. “With last year’s storms, water damage reached an all…
IBC says weather hit P&C insurers’ results hard in 2013
March 31, 2014 byA turn in the weather last year proved enough to undermine the performance of the insurance industry, Gregor Robinson, senior vice president of policy and chief economist for the Insurance Bureau of Canada (IBC), said during Swiss Re’s 29th Annual…
Interest growing in usage-based auto insurance
March 31, 2014 byCanadian drivers are receptive to purchasing usage-based auto insurance policies, fairly in line with other global markets, according to a new survey from professional services firm Towers Watson. More than half (56%) of drivers here said they have a “strong…
Insurers need to tell clients about flood exclusions: EY
March 31, 2014 byCanadian property & casualty insurance carriers need to work with government to determine how areas at risk of flooding can be insured, and they also need to “draw policyholders’ attention to exclusions,” suggests a report on the Canadian p&c insurance…
SGI Canada sells shares in PEI company; exits Maritimes in favour of Western Canadian expansion
March 28, 2014 by Canadian UnderwriterSGI Canada entered into an agreement Friday to sell its shares in the Insurance Company of Prince Edward Island to EGI Financial Holdings Inc. at book value, estimated to be $10 million, with an additional $3.5 million to licence the…