Segment
Brokers
Ontario budget takes aim at auto insurance fraud
March 30, 2011 by Canadian UnderwriterThe Ontario government announced its intention to target auto insurance fraud in its 2011 budget. Both Insurance Bureau of Canada (IBC) and Insurance Brokers Association of Ontario (IBAO) applaud the announcement.In the budget, Ontario Finance Minister Dwight Duncan said the…
Policy Billing Services Inc appoints president, CEO
March 28, 2011 by Canadian UnderwriterStuart Bruce has been appointed the first president and CEO of Policy Billing Services Inc. Policy Bill is a national insurance billing services company. It provides the ‘back office’ for insurance billing and premium financing subsidiaries owned by insurance brokers,…
Insurance and Bank Web site regulations may have to wait for the federal election
March 25, 2011 by Canadian UnderwriterCanada’s government has now officially fallen, and the resultant election will likely postpone the official seal of approval of new regulations prohibiting banks from promoting unauthorized insurance on their Web sites.Canadian Prime Minister Stephen Harper’s government fell in a non-confidence…
Ontario broker regulator cautions about use of filters in online quoting services
March 24, 2011 by Canadian UnderwriterBrokers need to make sure they are not using technology as a means to sidestep regulatory obligations, particularly with regard to the use of filters in online quoting services, the president of the Registered Insurance Brokers Association of Ontario (RIBO),…
Corrected Item: Ontario high court ruling in Shoeless Joe’s v. Insurance Portfolio
March 24, 2011 by Canadian UnderwriterCorrection/Clarification/Apology This is an updated, corrected and amended version of a story that appeared in Canadian Underwriter‘s online news on Mar. 9, 2011. The article reported on an Ontario Court of Appeal decision in the case Shoeless Joe’s v. Insurance…
B.C. Insurance Council suspends license of agent, agency, pending investigation into allegations including fraudulent transfer of a car
March 22, 2011 by Canadian UnderwriterThe B.C. Insurance Council has suspended the license of agent Yik Lun Hui and insurance agency Roadways Insurance Agencies Inc., pending the outcome of a council investigation into allegations that Hui failed to carry out his duties and responsibilities as…
Pembridge and Applied launch billing and policy inquiry that begins and ends in broker BMS – with no portal
March 22, 2011 by Canadian UnderwriterPembridge Insurance and Applied Systems Canada are launching a joint venture to offer real-time transactions aimed at improving broker workflows.Pembridge’s Broker Connectivity solution will soon deliver billing and policy inquiry functionality to brokers using Applied Systems TAM (The Agency Manager)…
IBAO cautions property owners of spring melt
March 18, 2011 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) are reminding consumers to take the necessary precautions to protect their homes and belongings from water damage during the spring melt.The combination of the melting snow and the influx of precipitation over the…
CFC Underwriting launches coverage for headhunter/staffing agencies
March 14, 2011 by Canadian UnderwriterCFC Undewriting has launched ProSurance RES, a new combined policy for Canada’s recruitment, employment and staffing agencies. RES offers vicarious liability cover for placed personnel, in addition to office cover and general liability. “This means the agency’s legal liability is…
Guy Carpenter selected as new placing broker for Caribbean Catastrophe Risk Insurance Facility
March 11, 2011 by Canadian UnderwriterGuy Carpenter & Company, a global risk and reinsurance specialist, and a member of Marsh & McLennan Companies (NYSE: MMC), has been selected as the new placing broker for the Caribbean Catastrophe Risk Insurance Facility (CCRIF). CCRIF is a risk…
Aon Benfield launches new reinsurance research team
March 10, 2011 by Canadian UnderwriterAon Benfield has launched a new market analysis team within Aon Benfield Analytics. The market analysis team, which evolved from Aon Benfield Research, will provide in-depth reports on reinsurers and insight into reinsurance market trends. Aon Benfield Research will now…
Willis North America appoints CFO
March 9, 2011 by Canadian UnderwriterSharon Edwards has been appointed chief financial officer for Willis North America. Edwards previously served as chief administrative officer for Willis North America beginning in 2009. She will be responsible for all aspects of Willis North America’s finance functions, including…