Segment
Brokers
Applying insurance deductibles to a condo building infested with marijuana grow-ops
May 11, 2012 by Canadian UnderwriterHere’s a quick math question for strata insurance experts: If there is a $50,000 policy deductible for each “occurrence” of illegal drug activity losses, and 29 out of 90 condo units in a single building are damaged because of marijuana…
B.C.’s auto insurer commits to consulting with brokers about risk-based pricing
May 10, 2012 by Canadian UnderwriterBritish Columbia’s public auto insurer, the Insurance Corporation of B.C. (ICBC), has committed to consulting with the province’s brokers about a proposed shift to risk-based auto insurance pricing. The move represents one peg of ICBC’s much broader plan to modernize…
Alberta eager to import Ontario brokers’ forthcoming mobile app
May 10, 2012 by Canadian UnderwriterThe Insurance Brokers Association of Alberta (IBAA) intends to import Ontario’s forthcoming broker mobile application technology to its home province. “At our annual general meeting [on May 6-9], our members definitely voted to be one of the first to sign…
Nova Scotia brokers want to put the onus on oil companies for oil tank maintenance, replacement
May 10, 2012 by Canadian UnderwriterNova Scotia brokers are tired of playing the role of a “regulator” when it comes to policyholders’ oil tanks, and want oil companies to assume responsibility for properly maintaining the tanks. “We seem to be the regulator,” Richard Bishop, president…
Creating transparency in the Canadian insurance market
May 2, 2012 by Canadian UnderwriterInsureEye Inc. has introduced an online service intended to enhance transparency and provide consumers with a sneak peek at reviews for home, auto and life insurance. Touted as a first in Canada, the independent and consumer-driven tool was rolled out…
Duty to Disclose
May 1, 2012 The CIP Society, Insurance Institute of CanadaSound business decisions may not always bode well for client relations, and when they don’t, is the broker duty-bound to tell the client?
Moves & Views
May 1, 2012 by Canadian Underwriter1 On Side Restoration Services Ltd. is continuing to expand, most recently opening its doors in Atlantic Canada. The company acquired A&R Services Ltd. on Apr. 1, completing On Side’s stretch from coast to coast. “This is the first acquisition…
Proposed NDP private members’ bill would hike auto insurance rates in Ontario substantially: Liberal MPP
April 30, 2012 by Canadian UnderwriterOntario drivers would see auto insurance rates go up, and skyrocket in some parts of the province, if legislative amendments proposed by the NDP get the green light, a Liberal MPP suggests — a claim the NDP denies. Banning the…
FSCO issues consumer warnings about unlicensed brokerages, insurance card scams
April 30, 2012 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has issued a number of consumer warnings over the past few weeks, publicizing the names of unlicensed insurance brokerages and releasing details of fraudulent insurance card scams. In unrelated posts, FSCO has cautioned…
Industry reacts to Ontario auto insurance study
April 26, 2012 by Canadian UnderwriterAnother review of problems plaguing Ontario’s auto insurance sector will likely duplicate ongoing government-sponsored initiatives, according to Insurance Bureau of Canada (IBC). IBC was responding to the recent announcement of a study by the Ontario Standing Committee on General Government…
Guy Carpenter’s Donald Morrison to discuss reinsurance at ICLR’s May 2012 Friday Forum
April 26, 2012 by Canadian UnderwriterDonald Morrison, vice president for the Canadian office of the global reinsurance broker Guy Carpenter, will be speaking on May 25 at the Institute for Catastrophic Loss Reduction (ICLR)’s May 2012 Friday Forum. Morrison will speak on the history of…
Ontario committee to hold public hearings on auto insurance
April 26, 2012 by Canadian UnderwriterA committee of the Ontario legislature has voted to conduct a “fair and balanced study” into auto insurance industry practices and trends. The Standing Committee on General Government passed a motion on Apr. 16 to strike the select committee, which…