Segment
Brokers
Industry still on guard, despite minister’s assurances about no new changes to GST tax policy
May 20, 2010 by Canadian UnderwriterDespite assurances from Canada’s finance minister that previously GST-exempt insurance activities will remain so, members of the property and casualty industry say the wording of the government’s proposed new Bill C-9 – in particular, Clause 55 – is so broad…
Brokers ability to present a risk as good quality key to ensuring coverage
May 19, 2010 by Canadian UnderwriterThe quality of a broker’s presentation of risk is the most important factor considered by underwriters when deciding whether or not to take on a risk, according to a Marsh survey.An independent research firm polled underwriters in seven global insurance…
MSB teams up with Compu-Quote to launch replacement cost calculator
May 18, 2010 by Canadian UnderwriterMarshall & Swift/Boeckh (MSB) has teamed up with Compu-Quote Inc. to launch a replacement cost calculator. MSB will integrate its RCT technology into Compu-Quote’s RCT EvaluRater product to form the Replacement Cost Technology EvaluRater. The product is intended to “significantly…
iClarify officially rolled out across Ontario
May 18, 2010 by Canadian UnderwriteriClarify is now available to all Ontario brokers. The insurance-to-value initiative is a joint effort between Compu-Quote Inc. and SCM’s Risk Management Services (RMS). It allows brokers to retrieve street level and satellite photographs, as well as information on 12…
DAS Canada receives Letters Patent as Canada’s newest insurance company, to specialize in legal expense insurance
May 14, 2010 by Canadian UnderwriterCanada’s Minister of Finance has issued Letters Patent to DAS Legal Protection Insurance Company Limited (DAS Canada), making it the first insurer in the country to specialize in offering legal expense insurance. The company will provide customers with policies that…
Insurance agent nominee has duty to end unethical practices of employer(s): B.C. Insurance Council
May 12, 2010 by Canadian UnderwriterA Level 3 general insurance agent nominee must do more than simply report regulatory concerns to her employers (the principals of the brokerage), especially when the concerns include the conduct of the principals, the Insurance Council of B.C. has ruled.Raghbir…
IBC launches initiative to tackle insurance-to-value (ITV) issue
May 12, 2010 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has launched a two-fold initiative to improve property valuations.One part of the initiative targets insurers, while the other is an educational campaign directed towards consumers.For insurers, IBC released best practice guidelines. The best practices offer…
Compu-Quote launches Web-based rating tool for recreational vehicles and motorcycles
May 7, 2010 by Canadian UnderwriterCompu-Quote has launched its Motorcycle and Miscellaneous Vehicles quoting module to brokers in Alberta, Ontario and Quebec. The Motorcycle and Miscellaneous Vehicle (ATVs, snow vehicles, campers and trailers) Quoting Module is a Web-based service embedded in AutoRater. It provides full…
IBC and IBANS committed to working with Nova Scotia on auto cap amendments
April 29, 2010 by Canadian UnderwriterInsurance Bureau of Canada (IBC) and the Insurance Brokers Association of Nova Scotia (IBANS) say they are committed to working closely with Nova Scotia to monitor the effect of the changes to the auto cap regulations in the province. Changes…
Finance Minister to meet with banks about banning insurance sales on banks’ Web sites
April 26, 2010 by Canadian UnderwriterFinance Minister Jim Flaherty expects to be sitting down with Canadian bank executives sometime over the next 10 days and discussing the government’s directive to remove insurance sales from their Web sites, according to media reports.Flaherty made the remarks to…
RIBO warns of alleged auto insurance scam
April 23, 2010 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO) is warning of an alleged automobile insurance scam.A newspaper ad advertising auto insurance with a 1-800 contact number has been placed in several Ontario city newspapers, a RIBO release says. Typically, the perpetrators…
RSA and MarshBerry team up to support broker partners
April 23, 2010 by Canadian UnderwriterRSA has teamed with MarshBerry, a consulting firm, to offer RSA’s key brokers tools to grow their businesses. MarshBerry, a U.S. broker consulting firm, offers expertise in management, peer-to-peer exchange network, informational services, sales effectiveness and merger and acquisition advisory…