Segment
Brokers
Brokerage fined for rebating premium to unhappy client
June 3, 2019 by David GambrillA Manitoba brokerage recently found itself in hot water with the regulator for rebating premium money to a dissatisfied client. Insurance Council of Manitoba ruled that Donbar Agency Limited, which operates as Crossroads Insurance, should not have rebated an unhappy…
Brokers concerned about blanket approach to binding authority restrictions
May 31, 2019 by Jason ContantWith wildfires raging in northern Alberta and Ontario, brokers are reporting some funky outcomes associated with insurers’ binding authority restrictions. Under the restrictions, brokers cannot bind coverage in areas under civil authority, forest fire alerts, flood alerts and certain earthquake…
BrokerLink makes third acquisition in May
May 31, 2019 by Jason ContantBrokerLink has made its third acquisition in May with the purchase of Alberta independent insurance brokerage Thomson Schindle Green Insurance & Financial Services Ltd. (TSG). With branches in Medicine Hat, Calgary, Brooks, Bassano and Edmonton, TSG has been providing insurance…
One way to cut time and effort from handling paper forms
May 30, 2019 by Greg MeckbachDo your workers spend hours typing information from paper forms into the computer? There are ways of automating this. “Nowadays, you probably have documents coming in and you put them on the scanner. When you are going to put them…
Retirement: How “Freedom 55” may become “Freedom 65+”
May 30, 2019 by Adam MalikThe Canadian Institute of Actuaries (CIA) wants to talk about delaying the traditional retirement age to beyond 65. Many are already choosing to work beyond age 65 anyway, said John Dark, CIA president. “It makes sense to update our country’s…
This brokerage is the latest to get into employee benefits
May 24, 2019 by Jason ContantA family-owned brokerage in New Brunswick has become the latest brokerage to get into the employee benefits space. Personal and commercial lines brokerage Vienneau Insurance announced earlier this week that it has expanded its commercial insurance offering by acquiring the…
Is there culture after an acquisition?
May 23, 2019 by Adam MalikA question posed at a recent event asked how many of the approximately 30 people in the room had ever been part of an acquisition or merger. Almost every hand went up. It seems just about every broker has been…
New cyber insurance platform offers quotes using single piece of data
May 23, 2019 by Jason ContantWhile online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote…
Being offline ‘is a huge red flag’
May 22, 2019 by Adam MalikFinding a business is much simpler these days. Rather the fishing around for the yellow pages, dropping it with a loud thud on a desk and flipping through the pages, people opt for a much simpler approach – Google. Anyone…
Why your clients may not be covered when there’s an active wildfire
May 21, 2019 by Jason ContantWith wildfire season already underway in Alberta and British Columbia, brokers will be looking at how insurance can help their clients mitigate any losses. But brokers and clients alike may not know that the ability to bind coverage could be…
Brokers await regulations on bank fintech changes
May 17, 2019 by Jason ContantAs the federal government drafts regulations related to recent Bank Act amendments, the Insurance Brokers Association of Canada (IBAC) is confident that the fundamental aspects of their position have been upheld. Bill C-74, which received royal assent in June 2018,…
Job hunters are changing the rules around work
May 17, 2019 by Adam MalikEmployers are being expected to offer flexible working options. And job seekers are more than happy to turn down an offer if they aren’t included. IWG, which operates virtual offices around the world, recently released its annual global study which…