Segment
Brokers
Saskatchewan regulator warns against use of unlicensed brokers or agents by insurers
November 19, 2009 by Canadian UnderwriterSaskatchewan’s Superintendent of Insurance has warned insurers marketing insurance and administering insurance contracts in the province with the assistance of unlicensed third-party entities that it intends to “follow-up” with them.In a letter, the regulator requests that non-compliant insurers remedy this…
What’s New: In Brief (November 16, 2009)
November 16, 2009 by Canadian UnderwriterPembridge Insurance Company has announced a joint venture with Brovada Technologies that is intended to offer real-time transactions aimed at improved connectivity with brokers and more efficient broker workflows.“Pembridge has listened to the concerns of independent insurance brokers to become…
What’s New: In Brief (November 12, 2009)
November 12, 2009 by Canadian UnderwriterAfter almost 17 years of sharing the management responsibilities for both the Insurance Councils of Saskatchewan (ICS) and the Insurance Brokers’ Association of Saskatchewan (IBAS), Ernie Gaschler will now begin devoting his entire time and energy to the activities of…
B.C. Insurance Council concerned about confidentiality breaches
November 10, 2009 by Canadian UnderwriterThe Insurance Council of British Columbia, which licenses and regulates the province’s insurance agents, salespersons and adjusters, says it is concerned about the number of breaches in confidentiality it has encountered over the last 12 to 18 months.“Licensees handle and…
Hub buys brokerage from Aviva Canada
November 9, 2009 by Canadian UnderwriterHub International Limited has acquired Mones & Associates Insurance Brokers Inc. from Aviva Canada Inc. Mones also operates under the name of Arctic Insurance Brokers Ltd. in select markets. It has approximately $10 million in annual revenue in personal and…
What’s New: In Brief (November 05, 2009)
November 5, 2009 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO), the self-regulating body for Ontario brokers, opened 113 new complaint files in 2008-09, comparable to the 92 new files it opened in 2007-08.Of those new complaint files opened in 2008-09, more came from…
Insurance industry responds favourably to Ontario auto reforms
November 3, 2009 by Canadian UnderwriterCanadian insurers and insurance brokers have responded favourably to the auto insurance reform package introduced by the Ontario government on Nov. 2, 2009.Insurance Bureau of Canada (IBC) said the government’s reforms to the Ontario auto insurance system “address affordability of…
What’s New: In Brief (November 02, 2009)
November 2, 2009 by Canadian UnderwriterAon reported a net income attributable to stockholders of US$120 million for 2009 Q3 as compared to US$117 million for 2008 Q3. Total operating expenses for the third quarter were similar to the same quarter in 2008 at US$1.6 billion,…
Willis Group reports 2009 Q3 profit of US$78 million
October 27, 2009 by Canadian UnderwriterWillis Group Holdings Limited has reported a 2009 Q3 profit from continuing operations of US$78 million, compared to US$36 million during the same period a year ago. The company reported a US$357-million profit from continuing operations for the first nine…
Brokers need stronger Web presence: incoming IBAO president
October 26, 2009 by Canadian UnderwriterInsurance brokers need to adopt a much stronger Web presence, IBAO incoming president Bryan Yetman said in a speech to the IBAO’s 89th annual convention held in Toronto.As the Internet increasingly becomes the dominant mode of communication for consumers, brokers…
Nova Scotia brokers “optimistic” about government’s willingness to negotiate future of the auto cap
October 26, 2009 by Canadian UnderwriterCLARIFICATION: The following piece is intended to clarify remarks attributed to IBANS president Ken Myers, as reported by Canadian Underwriter in an online item entitled, “Only a matter of time before Nova Scotia cap is scrapped, premier suggests to brokers.”…
Brokers need to communicate more often with their customers: IBAO research
October 23, 2009 by Canadian UnderwriterBrokers need to do more of the grassroots style of communication with their clients that made the channel so successful in the first place, proprietary research by the Insurance Brokers Association of Ontario (IBAO) suggests.IBAO CEO Randy Carroll and IBAO…