The Financial Services Commission of Ontario (FSCO) is warning consumers that CC&B Group Inc. and Serafattin Solak are not licensed to do insurance business in the province and are connected to a fake auto insurance scam. Solak (also goes by the name “George”)…
Less than 1% of Canadian companies are currently using receivables insurance as part of their financial planning, creating a new opportunity for brokers, according to a new organization promoting the opportunity for such coverage. Less than 10,000 of Canada’s 1.1…
Travelers Companies, Inc. has agreed to acquire The Dominion of Canada General Insurance Company from E-L Financial Corporation Limited for approximately $1.1 billion in cash, subject to adjustment. The transaction is expected to close in 2013 Q4, subject to regulatory…
Property and casualty insurers in the United States need to consider some of the major demographic and socioeconomic trends happening in the country and factor them into their growth plans, notes a new report from research firm Conning. “The U.S.…
Saskatchewan Government Insurance (SGI) is looking for a vendor to supply telematics technology for motorcycles for a planned pilot program. The insurer issued an Advance Contract Award Notice through SaskTenders on Tuesday looking for a vendor that can help shape…
Several independent brokerages in Alberta are partnering with Excel Insurance Group, an Edmonton-based firm, to gain access to more insurers and possibly work jointly on new business projects. Sheppard Insurance Service Inc., Dyberg Insurance Inc. and Treasures Insurance have all…
Several amendments to Ontario auto insurance regulation took effect June 1, including changes to the Unfair or Deceptive Practices regulation and to the Statutory Accident Benefits Schedule. Ontario Regulation 7/00, which is part of the Unfair or Deceptive Practices Act,…
1 Economical Insurance announced in May that two vice-presidents, Dianna Fioravanti and Scott Campbell, have left the company to “pursue other endeavours.” Fioravanti was vice president of sales, distribution and underwriting operations, while Campbell was vice president for Ontario. Robert…
There appears to be little argument: mobile devices have become a normal part of everyday life and incorporating their use into the business side of insurance is not only advisable for brokers, it is imperative. But are brokers ready to take a mobile leap toward real-world business applications? And what must be done to successfully ride the wave of customer expectations?
The importance of commercial insurance cannot be underestimated in the broker channel. Brokers need to reinforce and protect their commercial book of business with workflow efficiencies and technology advancements.
Brokers would be well-advised to pay close attention to a number of industry trends if they hope to thwart market share being lost to direct writers. It is essential to adopt technology solutions that allow brokers to capitalize on their biggest asset: being regarded as trusted advisors.
The majority of Canadians are not prepared for the effects of severe weather, according to a national poll conducted by Pollara. Only 8% of respondents believe Canadians in general are very actively preparing for severe weather. Similar numbers say this…