Segment
Brokers
CEOs, brokers shed light on “the Black Box” of underwriting
October 22, 2010 by Canadian UnderwriterCompanies using predictive models for underwriting may be making it more difficult for the public to understand how their premiums are derived, and thus making it more difficult for brokers to explain the rating process to consumers.CEOs of insurance companies…
Trial lawyer puts brokers on E&O notice, citing a higher duty of care after auto reforms
October 22, 2010 by Canadian UnderwriterThe higher standard of care owed by brokers to consumers as a result of the auto reforms will result in trial lawyers suing brokers “big-time” for failing to properly explain optional benefits to their clients, according to Richard Halpern, partner…
Ontario’s insurance regulator needs to get tougher on market misconduct issues: CEOs
October 22, 2010 by Canadian UnderwriterOntario’s insurance regulator needs to get tougher on market misconduct, insurance company CEOs told brokers at the Insurance Brokers Association of Ontario (IBAO)’s 90th Annual Convention in Niagara Falls.Suggestions at the IBAO’s CEO panel discussion included:• a more transparent method…
Insurers buying brokerages can help to advance the broker channel: Intact CEO
October 22, 2010 by Canadian UnderwriterInsurers should be able to purchase brokerages to ensure the survival of brokerages in the marketplace, argued Louis Gagnon, president of Intact Insurance.Gagnon expressed his controversial view during the CEO Panel at the Insurance Brokers Association of Ontario’s 90th Annual…
B.C. insurance broker association to act as intervenor in privacy complaint about credit scoring and insurance
October 21, 2010 by Canadian UnderwriterThe Insurance Brokers Association of B.C. (IBABC) is acting as an intervenor in the province’s first complaint to the B.C. Privacy Commissioner about the use of credit scoring in an insurance transaction. Currently, it is legal for insurers in B.C.…
Brokers’ Web presence stronger, but still “not where we need to be”: IBAO president
October 21, 2010 by Canadian UnderwriterBrokers still need to develop a much stronger Web presence, although there are signs they are starting to use online tools and resources more frequently, according to Bryan Yetman, president of the Insurance Brokers Association of Ontario (IBAO).Yetman made his…
Ontario PC leader to address IBAO Annual Convention delegates
October 18, 2010 by Canadian UnderwriterTim Hudak, leader of the Progressive Conservative Party of Ontario, will serve as a keynote speaker at the Insurance Brokers Association of Ontario (IBAO)’s Annual Convention.Hudak will deliver his speech on Thursday, Oct. 21 at 9:15 am. The Convention runs…
Brokers launch online MBA and H.B.Com programs
October 18, 2010 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) and its member associations have launched online Master of Business Administration (MBA) and Honours Bachelor of Commerce (H.B.Com) programs. The degree programs are available to insurance brokers across Canada through an exclusive arrangement…
Lloyd’s syndicate structure benefits from desire to spread counterparty risk: Ironshore Inc. chairman
October 15, 2010 by Canadian UnderwriterLloyd’s of London is a reaping the rewards of a market trend to spread counterparty risk in the wake of the 2008-09 financial crisis, Ironshore chairman Ron Sandler said in an Oct. 15 speech in Toronto.“Risk managers and brokers are…
Contracts with SGI no longer required to licence vehicles in Saskatchewan
October 15, 2010 by Canadian UnderwriterSaskatchewan motorists will be able to buy or renew vehicle licences at agencies that do not have contracts with SGI Canada, effective Jan. 1, 2011.Previously, only insurance brokers holding contracts with SGI could sell or renew vehicle licences. Saskatchewan’s policy…
Integro now poised to operate as reinsurance brokerage in United States
October 14, 2010 by Canadian UnderwriterIntegro announced its acquisition of ReSource Intermediaries, a move that positions Integro to add reinsurance brokerage services to its U.S. roster.ReSource Intermediaries is a full-service reinsurance brokerage based in San Fransisco. Its client base includes insurance companies; alternative risk entities…
Guarantee Company now a full partner in Broker Identity Program
October 14, 2010 by Canadian UnderwriterThe Guarantee Company of North America has increased its investment and is now a full partner in the Insurance Brokers Association of Canada (IBAC)’s Broker Identity Program (BIP) for 2010.Launched 22 years ago, the BIP program promotes the value and…