How rotating postal strikes are affecting these major insurers
October 23, 2018 by Jason ContantAfter much hand-wringing about the impact of a postal strike on the insurance industry, rotating strikes by Canada Post workers have seemed to have had little impact on major insurers. Aviva Canada told Canadian Underwriter Tuesday the immediate impact of…
Brokers need to intensify lobby on auto file: Intact president
October 18, 2018 by David GambrillFacing an imminent hard market in auto insurance lines, brokers need to intensify their lobbying efforts to inform Ontario MPPs about the pricing issues associated with the auto insurance product, a senior executive of Canada’s largest insurer told brokers Thursday.…
A new, faster way to show your clients their options
October 14, 2018 by Jason ContantBrokers in Canada have a technology platform available that allows them to customize different insurance coverages, or offer next-day service, through a self-serve app. The app provides a base quote for a customer. The broker can then use sliders to…
How Ontario’s new government needs to handle the auto file
August 6, 2018 by Jason ContantAlthough Ontario’s new Progressive Conservative government has not publicly disclosed its plans for auto insurance reform, the industry’s trade association has some thoughts on where it should go. Pete Karageorgos, director of consumer and industry relations with Insurance Bureau of…
The evolving nature of business interruption
July 6, 2018 Aleksandra ZivanovicIn the face of climate change, cyber risks, and mass terror plots affecting entire regions and sometimes economic sectors, business interruption coverage is a challenging coverage to both write and adjust. This challenge is multi-faceted and directly impacted by global…
Priority dispute in mechanic test-drive case could reach top court
June 27, 2018 by Greg MeckbachA priority dispute between Ontario auto insurers over who should pay accident benefits to a mechanic injured while test-driving a customer’s car could be headed to Canada’s highest court. Auto repair shop owner Jing Hua Fan was hurt in 2011…
Claims professionals speak out amid allegations of contractors providing insurance advice
June 21, 2018 by Jason ContantOntario and Quebec’s May 4 windstorm event has the Canadian claims industry talking about the proper roles of contractors and adjusters, based on unconfirmed reports that individual rogue contractors – e.g. not people associated with the larger restoration contracting firms –…
Does Canada have the adjusting resources to handle back-to-back catastrophes?
June 6, 2018 by Jason ContantDoes Canada’s property and casualty industry have enough resources in place to adjust major catastrophes that occur in tandem or right on the heels of each other? Industry resources in Ontario were tested after a severe ice storm in April,…
Improved traffic management cheapest way to reduce congestion: CAA
June 6, 2018 The Canadian PressTORONTO – The Canadian Automobile Association says there are a number of simple measures that could be taken to reduce congestion on roads across the country. A CAA-commissioned study released last year estimated the country’s worst bottlenecks result in 11.5…
Bank of Canada keeps key interest rate target on hold at 1.25 per cent
May 30, 2018 Craig Wong - THE CANADIAN PRESSOTTAWA – The Bank of Canada kept its key interest rate target on hold Wednesday, but noted the Canadian economy was a little stronger than expected in the first quarter, raising expectations that rate hikes are coming later this year…
Human intervention not required to sell insurance online, digital broker says
March 29, 2018 by Jason ContantProposed regulatory changes allowing the sale of property and casualty insurance in Quebec without human intervention might actually benefit consumers and not harm them, a digital brokerage told Canadian Underwriter Wednesday. Scott Loong, co-founder and CEO of Montreal-based digital brokerage…
Ontario budget 2018: What’s in it for the industry
March 29, 2018 by Greg MeckbachThe Ontario government’s 2018-19 budget document provides some comfort for auto insurers because the province is committing to having the new regulator up and running by April 2019. The Financial Services Regulatory Authority, which will effectively replace the Financial Services…