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News BrokersInsuranceLegalLegislation / Regulation

Insurance certificate fraud costs ex-broker $26K

May 5, 2021 by David Gambrill

Alberta’s broker regulator has issued a civil penalty of $26,000 against a former broker found to have issued false insurance certificates to clients as “placeholders” until coverage was bound — which it never was. The penalty was based on 52

News Insurance

Paid The future of premium payments

May 1, 2021 Primaco

How COVID-19 paved the way for easier payments; less risk to the broker As Canada prepares itself for a possible third COVID-19 wave, brokers are facing the reality of trying to manage the economic impact on themselves and their clients.

News BrokersInsuranceLegislation / Regulation

What happened to the ex-broker who claimed he was a CE instructor, but wasn’t

July 22, 2020 by David Gambrill

A former broker who has vowed never to return to the insurance industry has been ordered to pay a $5,000 civil fine for claiming to be a CE instructor when he had not in fact taught the course he claimed

News BrokersInsuranceLegislation / Regulation

How a simple office procedural error led to a fine for a broker, the nominee, and the brokerage

July 15, 2020 by David Gambrill

A “lack of appropriate office procedures,” in addition to a “casual” approach to handling a client file, led to a series of miscues that resulted in coverage not being bound for a married couple who reported a theft of their

News BrokersInsurance

Broker fined for misrepresenting cause of her termination

February 21, 2020 by David Gambrill

A Manitoba broker has been fined $1,000 and ordered to take an ethics course after failing to fully disclose on her broker licence renewal application why her brokerage had terminated her for cause. Rahat Sharma, a broker who used to

News InsuranceLegalLegislation / Regulation

What insurers requested of police chiefs

June 24, 2019 by Adam Malik

Insurers are calling on greater collaboration with law enforcement to help fight auto insurance fraud. The cost of auto insurance fraud is overwhelming, and no one industry can tackle it alone, Don Forgeron, president and CEO of the Insurance Bureau

News Legislation / Regulation

What open banking means for brokers

June 21, 2019 by Greg Meckbach

Brokers should see open banking as more of an opportunity than a threat, a partner with EY Canada suggests. Open banking is a system in which consumers could consent to sharing their banking transaction data with other financial services providers,

News InsuranceProductsTechnology

One way to minimize double entry of data

June 19, 2019 by Jason Contant

One question often on the minds of brokers is how do they better digitize their processes and minimize the amount of data they have to enter into various systems. “Our position is that data should be created in a digital

News BrokersInsuranceTechnology

Where does insurance fit in the technology puzzle?

June 18, 2019 by Adam Malik

The insurance industry needs to figure out how to leverage technology and ride the waves of change that other industries are seeing. From there, issues like finding talent will become easier, a panel recently told young brokers. Problem is, insurance

News BrokersInsuranceProfessional Development

Canadians don’t think about AI – here’s why brokers should

June 14, 2019 by Adam Malik

Nearly six out of 10 Canadian employees believe artificial intelligence will have no impact on their jobs, according to a recent survey. Brokers would be wise to not side with the majority. As AI becomes more refined, it will be

News InsuranceRiskTechnology

This social media risk lacks a mainstream insurance product

June 12, 2019 by Greg Meckbach

Want 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

News BrokersProfessional Development

Making your mark as a young broker

June 12, 2019 by Adam Malik

Network, build your brand, develop partnerships and squash procrastination – those are just some of the things young brokers need to do as they move up the ranks. With a room full of young brokers in front of them, expert