This social media risk lacks a mainstream insurance product
June 12, 2019 by Greg MeckbachWant to place insurance that covers a client whose revenue suddenly plummets because of a disinformation campaign? This might be easier said than done, but one commercial insurer with a Canadian branch is hoping to change this. Right now, there…
This business process is taking too long
June 10, 2019 by Greg MeckbachSome brokers and carriers are spending too much time and effort dealing with incoming paper, a former auto underwriter says. While technology advancements mean more forms can be entered electronically through web and mobile apps, brokers nonetheless have data coming…
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…
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…
Huawei a small part of an ‘insurmountably hard problem’ of cybersecurity
May 22, 2019 by Greg MeckbachThe controversy over telecommunications equipment from Chinese manufacturer Huawei is just the tip of a large cyber risk iceberg, an Internet security expert warns. “The question is, should we trust the country in which the company whose products and services…
When cyber breaches can kill
May 15, 2019 by Greg MeckbachYour client’s property and life are getting increasingly exposed to cyber attacks because just about everything today has computing power, an information security expert warns. “It used to be what with computer security, we were worried about computers, desktops and…
Why it’s ‘time to stop talking’ about the Marshall report
May 6, 2019 by Greg MeckbachTwo years after David Marshall released 30 recommendations for reforming auto insurance in Ontario, it’s time to focus on what the current government is actually proposing, a consultant suggests. “I think it’s time to stop talking about Marshall and focus…
Intact’s BrokerLink makes double acquisition
May 3, 2019 by Jason ContantBrokerLink has announced the acquisition of two brokerages: the Athabasca, Alta. branch of JDR Insurance and Guelph, Ont.-based Amplex Insurance Brokers Ltd. Both transactions were effective May 1 and terms of the transactions were not disclosed, BrokerLink said in a…
How sales commissions can result in disputes over vacation pay
April 24, 2019 by Greg MeckbachIf you employ commissioned sales people, how are you calculating their vacation pay? Calculating employees’ vacation pay can be an issue for any company whose sales staff earn both a base salary and commission, Toronto employment lawyer Andrew Monkhouse, managing…
How Ontario government plans to work with industry on auto reform
April 18, 2019 by Greg MeckbachThe Ontario government plans to work with the industry on implementing a number of changes to auto insurance, including doubling accident benefits coverage for catastrophic impairment. In its 2019-20 budget document tabled Apr. 11, the government said motorists “should have…
What your auto client may like about Ontario budget
April 15, 2019 by Greg MeckbachSome Ontario motorists would like an auto insurance system that lets carriers offer lower rates to clients who use the carriers’ preferred collision repair or healthcare facilities, an Insurance Bureau of Canada official suggests. In its budget document tabled April…
What the Ontario budget says about auto insurance
April 12, 2019 by Greg MeckbachCredit scores could soon be used as one factor in determining Ontario auto rates, and the province plans to double coverage for catastrophic impairment, Finance Minister Vic Fedeli suggested in the budget document tabled Thursday. “Drivers should have the choice…