Segment
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…
Use of credit scoring not an advantage for direct channel: Charles Brindamour
October 23, 2009 by Canadian UnderwriterDirect writers obtain no benefit from using credit scores when pricing or underwriting, Charles Brindamour, president and CEO of Intact Insurance, told delegates at the Insurance Brokers Association of Ontario (IBAO)’s 89th annual convention in Toronto.Speaking as a member of…
Consistency is key for brokers when completing insurance applications
October 23, 2009 by Canadian UnderwriterAlthough a broker might not remember each and every insurance application he or she fills out, it is imperative for legal reasons that every application for insurance be filled out the same way, Stephen Scullion, director of professional development at…
Only a matter of time before Nova Scotia cap is scrapped, premier suggests to brokers
October 22, 2009 by Canadian UnderwriterNova Scotia’s Cdn$2,500 cap on claims payments for minor auto injuries will be scrapped, it’s just a matter of when, the province’s new premier has suggested to the Independent Broker Association of Nova Scotia (IBANS).Nova Scotia Premier Darrell Dexter, a…
Members not supporting IBAO’s call for ban on credit scoring should “get in the game”: IBAO president
October 22, 2009 by Canadian UnderwriterMembers of the Insurance Brokers Association of Ontario (IBAO) who do not support the association’s call for an “outright ban” on credit scoring need to “get in the game,” IBAO president Peter Blodgett said in a speech made at the…
What’s New: In Brief (October 22, 2009)
October 22, 2009 by Canadian UnderwriterPuroClean has announced an expansion strategy that calls for 40 franchise locations throughout Canada over the next five years. Within the last six months, the property emergency services provider opened a Canadian headquarters in Markham, Ont. in addition to six…
What’s New: In Brief (October 21, 2009)
October 21, 2009 by Canadian UnderwriterCatastroPhone has launched an emergency response telecommunication service platform that enables “nearly instant” restoration of business’ incoming telephone call handling and distribution when systems are damaged, destroyed or rendered inaccessible.The venture is a collaboration between Fibernetics Corp and MMI, both…
What’s New: In Brief (October 20, 2009)
October 20, 2009 by Canadian UnderwriterTransport Canada is proposing a uniform test for rear-facing and forward-facing car seats and introducing a dynamic test for booster seats.Research found that fewer than half of the booster seats tested provided “good protection” for children when the vehicles were…
Banks vow to continue to sell insurance on Web sites, as government prepares to prohibit practice
October 9, 2009 by Canadian UnderwriterDescribing themselves as “shocked” by the Canadian government’s plan to introduce legislation that would prohibit banks from selling insurance on their Web sites, Canadian banks say they will continue to sell insurance from their Web sites in the meantime, “in…
Consolidation slowed, but not halted as brokers battle for middle market: Advisen
October 8, 2009 by Canadian UnderwriterBecause size matters, the hurried pace of consolidation in the brokerage sector will be slowed only temporarily by the recession, according to an Advisen Ltd. report. “Large brokers enjoy certain advantages of scope and scale,” said John Molka III, the…
Finance Minister tells banks that Web sites will soon be treated the same as branches for purpose of selling insurance
October 7, 2009 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) is applauding Minister of Finance Jim Flaherty for sending formal letters to the large Canadian banks and the Canadian Bankers Association, making it clear the government intends to adopt policy measures that would…
Member of Parliament tables legislation to limit banks in insurance business
October 7, 2009 by Canadian UnderwriterA private member’s bill tabled in the House of Commons on Oct. 7 calls for amendments to the Bank Act that would limit banks’ activities in the insurance business.Alexandra Mendès, MP for Brossard–La Prairie in Quebec, introduced the bill. It…