Segment
Brokers
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…
IBAO raises sponsorship for the Canadian Crime Victim Foundation
April 23, 2010 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) is reaching out to local organizations on behalf of the Canadian Crime Victim Foundation (CCVF) to raise sponsorship for the CCVF’s 8th Annual Gala and Fundraiser. The CCVF is a charitable organization dedicated…
Guy Carpenter appoints two new CEOs
April 14, 2010 by Canadian UnderwriterChris McKeown has been appointed president and CEO of North America broking operations at Guy Carpenter & Company LLC, effective May 1. McKeown will be responsible for Guy Carpenter’s treaty business in Canada and the United States. McKeown was previously…
Aon Benfield appoints Bungert, Christian as co-CEOs
April 14, 2010 by Canadian UnderwriterMichael Bungert, CEO of the Americas for Aon Benfield, and Dominic Christian, CEO of Aon Benfield’s international division, will serve as co-CEOs of Aon Benfield. Bungert is based in Chicago. He joined Aon Re Inc. as an executive vice president…
RCCAQ continues to work with government on sales of auto replacement guarantees
April 6, 2010 by Canadian UnderwriterThe Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ) is still working with its provincial government for clarification around the selling of insurance products without representation, says Louise Mathieu, RCCAQ president.The association made important gains on the issue with…
Finance Minister clarifies GST proposals: broker commissions appear to remain exempt
April 1, 2010 by Canadian UnderwriterThe Department of Finance Canada has clarified its intent to define certain financial services that are subject to GST, suggesting insurance broker commissions will continue to remain GST-exempt.A Canada Revenue Agency GST/HST Notice 250 in February 2010 caused some confusion…
CRTC reconsiders whether telephone insurance sales constitute telemarketing
March 31, 2010 by Canadian UnderwriterThe Canadian Radio-television and Telecommunications Commission (CRTC) is re-considering whether or not the unsolicited sale of insurance products by agents or brokers to existing clients by telephone constitutes telemarketing.The commission has requested comments on the matter (the deadline to register…
Marsh refuses contingent commissions in Canadian and U.S. core broking segments
March 29, 2010 by Canadian UnderwriterMarsh will no longer accept contingent commissions in its core broking segment in Canada or the United States.The firm will “continue to provide detailed transactional disclosure to clients in its core brokerage operations, including all quotes received and compensation information,”…
Custom Software, The Economical team up to provide real-time inquiry responses through BMS
March 25, 2010 by Canadian UnderwriterCustom Software Solutions Inc. (CSSI)’s Windows-based broker management system, The Broker’s Workstation (TBW), and its standalone rating and underwriting tool Intelliquote (IQ) will soon integrate in real time with The Economical Insurance Group’s TEIG Rogo.TEIG Rogo provides real-time billing, policy…
Feds propose to slap GST tax on currently exempt insurance-related services
March 24, 2010 by Canadian UnderwriterThe federal government is proposing to widen the scope of financial services taxable under the GST, lifting current GST exemptions for a host of activities commonly undertaken in the development of insurance products.The proposals call into question whether broker commissions…
Catlin Canada hires four new staff members in Toronto
March 24, 2010 by Canadian UnderwriterCatlin Canada has added four new senior staff to its Toronto office. Varma Singh has accepted the role of vice president of claims.Singh’s career in the insurance industry started in 1984. For the past 21 years he has worked in…