JLT shareholders approve merger with Marsh & McLennan
November 8, 2018 by Greg MeckbachA US$6-billion deal that could form the world’s largest commercial brokerage is one step closer to reality. Britain’s Jardine Lloyd Thompson Group plc announced Wednesday that 99.9% of its shareholders voted in favour of having JLT acquired by Marsh &…
Why this 1996 auto accident benefits claim has not been resolved
October 31, 2018 by Greg MeckbachAn accident benefits claimant who a designated assessment centre concluded 22 years ago was not disabled still has a chance to claim income replacement benefits, Ontario’s Divisional Court has ruled. Dharam Sidhu was involved in a traffic accident in 1996. He…
Top 10 Under 40, 2018: Garrett Jones, Valley First Insurance
October 31, 2018 Sarah Cunningham-ScharfWho are the brightest young talents in Canadian P&C today? Each year, Canadian Insurance Top Broker magazine (recently acquired by CU) answers that question with its Top 10 Under 40. Meet the other winners here, and don’t forget to pick…
Legislation puts sustainability of Ontario auto product at risk: Top 5 insurer
October 29, 2018 by Greg MeckbachThe major problems of the Ontario auto insurance product won’t be solved by changing the territorial rating system, a major insurer warns. Two private member’s bills recently tabled at Queen’s Park “have the potential to challenge the sustainability of the…
How to carve out more time to advise your small business clients
October 14, 2018 by Greg MeckbachSmall business clients want to spend less time filling out insurance application forms and more time getting advice from their brokers, an insurance technology expert says. “Unlike personal insurance, where there is more propensity to go direct, small business owners…
Appeal court nixes $100K awarded for lost income
October 10, 2018 by Greg MeckbachA plaintiff who was injured in an auto accident has had her award cut by $100,000 because she is not entitled to compensation for loss of income, the British Columbia Court of Appeal has ruled. Yi Gao sued Brian Dietrich…
Is technology creating an ‘underwriter in a box’?
September 22, 2018 by Jason ContantWe often hear how the property and casualty insurance industry is slow to adopt technology, but is it possible the industry is actually becoming overly reliant on technology? Yes, said Neil Mitchell, CEO of Player’s Health Cover and former managing…
Regulation suppressing required auto insurance rate increases
September 6, 2018 by Greg MeckbachSome Canadian auto insurers would hike rates even further if provincial bureaucrats would let them, a New Jersey-based analyst said Wednesday at A.M. Best’s 2018 Insurance Market Briefing-Canada in Toronto. In a recent report, A.M. Best Company Inc. warned of…
How much buyers are willing to pay for online books of business
September 5, 2018 by Jason ContantBuyers are pricing in potential future market disruption, such as online distribution, when buying a broker’s books of business, a P&C transaction advisor told Canadian Underwriter Wednesday. Mike Berris, partner and practice group leader with Vancouver-based Smythe Advisory said he…
The evolution of the commercial broker
August 28, 2018 by David GambrillCommercial insurance brokers will move beyond their sales role in the future and become true advisors on risk, industry executives predict. Signs of a hardening commercial insurance market provide one impetus for brokers to turn to risk advice to add…
Why Canadian insurers want to play in a “regulatory sandbox”
August 27, 2018 by Jason ContantThe Insurance Bureau of Canada (IBC) wants a “regulatory sandbox” for the P&C insurance industry, something currently not accessible to insurers. “Sandboxes relax specific legal and regulatory requirements to create a safe and conductive space for innovative ideas, enabling companies…
Top 10 broker gaffes
August 16, 2018 by Jason ContantMajor infractions committed by Quebec insurance brokers include acting dishonestly, negligently, or not acting with competence and professional integrity, says the disciplinary committee of the Chambre de l’assurance de dommages (ChAD), the province’s self-regulatory body for brokers, agents and claims adjusters.…