Segment
Brokers
B.C. Supreme Court awards $75,000 in punitive damages against ICBC for “multiple failings” in accident investigation
March 31, 2012 byThe B.C. Supreme Court has awarded $75,000 in punitive damages against the Insurance Corporation of British Columbia (ICBC), which denied coverage to the plaintiff on the basis of impaired driving allegations even though all criminal charges for impaired driving had…
CICMA/CIAA Ontario Chapter’s 45th Annual Joint Conference in Toronto
March 31, 2012 byThe CICMA/CIAA Ontario Chapter’s 45th Annual Joint Conference, Auto Reform…Did It Perform, was held on Feb. 7, 2012 at the Metro Toronto Convention Centre. Guest speakers included Becky Cameron, Aviva Canada; Tammie Norn, Proformance Group Inc.; Fred Plant, Plant Hope…
Toronto police arrest 37 people and lay 130 charges following insurance fraud ring investigation
March 31, 2012 byToronto Police have arrested 37 people and laid 130 charges in connection with Project Whiplash, an investigation into an alleged insurance fraud ring that resulted in insurance payouts totaling $4 million. Police say the ring featured staged auto collisions, false…
6th Annual Post CICMA/CIAA Joint Conference Cocktail
March 31, 2012 byHundreds of insurance claims industry guests attended the 6th Annual Post CICMA/CIAA Joint Conference Cocktail on Feb. 7, 2012. Entitled The Big Mingle, the event featured a Prohibition Era theme. Giffin Koerth Forensic Engineering and Blouin Dunn LLP hosted the…
Ontario Brokers laud CSIO announcement
March 28, 2012 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) says a new CSIO XML standard will bring greater efficiency to broker-insurance company communications through electronic documents. The development of “E-Docs” allows brokers to see electronic copies of policies automatically attached to their…
RIBO cautions brokers about sales incentives
March 26, 2012 by Canadian UnderwriterOntario’s broker self-regulator has witnessed enough of an increase in inducements and sales incentives to issue a bulletin to brokerage principals throughout the province. The Registered Insurance Brokers of Ontario (RIBO) sent the notice last month. “We are seeing a…
Insurance Council of B.C. concerned about “secondary” products
March 23, 2012 by Canadian UnderwriterAutomobile dealerships in British Columbia may face more stringent educational and licensing requirements in selling “secondary automobile insurance products,” according to the Insurance Council of British Columbia. Dealerships in the province have been allowed to market secondary products, such as…
Applied Systems launching broker benchmark
March 20, 2012 by Canadian UnderwriterBrokers looking to measure their performance and growth against their peers will soon have a benchmark. Applied Systems recently announced a survey to identify common brokerage attributes that create efficient, effective and sustainable business operations. The insurance software company said…
Ontario’s broker regulator urges caution when outsourcing brokerage records to insurers and third parties
March 16, 2012 by Canadian UnderwriterOutsourcing brokerage records to third parties and insurers is on the radar screen of the Ontario brokers’ self-regulating body, the Registered Insurance Brokers of Ontario (RIBO). RIBO president Jim Hawryluk raised the practice in his president’s address published in the…
New Brunswick insurers must fill out new form when terminating sponsorship of agents/brokers
March 16, 2012 by Canadian UnderwriterNew Brunswick insurers terminating sponsorship of an agent or broker must fill out a new reporting form and return it to the Office of the Superintendent of Insurance. The Insurance Act requires all agents and brokers in the province to…
RSA introduces web-based portal, e-Boiler, to streamline broker processes for small business accounts
March 8, 2012 by Canadian UnderwriterRSA’s Equipment Breakdown Insurance (EBI) division announced on Mar. 7 the implementation of e-Boiler, a web-based portal designed to streamline broker partners’ processes for handling small business accounts. “The program is unique in that it is fully customizable and empowers…
Capitalizing on the “digitalization age” requires legacy system review
March 6, 2012 by Canadian UnderwriterInsurers and brokers wishing to thrive in the era of digitalization may be underestimating the challenge posed by legacy systems, according to Kimberly Harris-Ferrante, vice president and analyst at Gartner Research. She made this observation during her keynote address at…