Pot legalization not a good reason to raise auto rates: Regulator
March 26, 2019 by Greg MeckbachNova Scotia’s auto insurance regulator is not letting The Dominion of Canada General Insurance Company take marijuana legalization into account when calculating this year’s rate increases. The Dominion said in a rate change application that claims frequency will likely go…
Why likeability is not the most important selling point
March 25, 2019 by Jason ContantAre you worried that you won’t be able to get the sale if your client doesn’t like you? No need to worry! A recent analysis of 450,000 salespeople found that among elite salespeople – those in the 95-100 percentile –…
Intact announces departure of executive vice president
March 25, 2019 by Jason ContantIntact Financial Corporation (IFC) has announced that executive vice president Don Fox will be leaving the company effective May 3. Fox has been responsible for overseeing IFC’s investment management, corporate legal, corporate development, audit and finance functions. These key functions,…
How workers compensation claims impact directors’ liability
March 22, 2019 by Greg MeckbachA corporate director in Alberta can be personally sued by a worker injured on the job even when that employee has workers’ compensation coverage through the province, the Court of Appeal of Alberta has ruled. Doug Stewart was a director…
What ransomware attacks cost your clients
March 21, 2019 by Jason ContantBrokers selling cyber insurance may want to pay attention to a recent statistic: the average financial cost of downtime to a Canadian business following a ransomware attack is 7.5 times higher than the average ransom requested per incident. Canada not…
The challenges in navigating the ridesharing insurance minefield
March 20, 2019 by Jason ContantDespite using a wholly-owned captive insurance subsidiary and third-party insurance, ridesharing company Lyft Inc. cannot ensure its coverage will sustain all of its business risks and costs, the company acknowledged in a recent stock-listing prospectus of risk factors. San Francisco,…
Trisura Guarantee announces new CEO
March 19, 2019 by David GambrillTrisura Guarantee Insurance Company has appointed Chris Sekine as president and CEO. He succeeds Mike George, who will continue to work with Trisura Guarantee on a consulting basis. Sekine has led Trisura Guarantee’s surety group since its inception. He has…
BFL Canada appoints vice chair
March 19, 2019 by Jason ContantCommercial insurance brokerage BFL Canada has announced the appointment of Norman M. Steinberg as vice chair. Steinberg was appointed to BFL’s board of directors in June of 2018. He was previously global chair of international law firm Norton Rose Fulbright.…
How this broker is binding Lloyd’s policies online
March 19, 2019 by Greg MeckbachA Calgary-based Lloyd’s coverholder has re-launched its website to make it easier for brokers to bind policies for special events without having to deal with a lot of paper forms. PAL Insurance Brokers Canada Ltd. has allowed clients to apply…
What 5G technology means for the insurance and collision repair industries
March 18, 2019 by Jason ContantThe promise of 5G technology was one of the top stories coming out of this year’s Consumer Electronics Show. But what does that mean for the insurance and collision repair industries? A massive increase in connected devices that respond seemingly…
How to onboard your new sales managers
March 18, 2019 by Jason ContantProper manager onboarding and development can have high payback for any sales force, noted the blog Why New Sales Managers Need More Training, published late last week in Harvard Business Review. Onboarding is the process of integrating a newly hired…
Paid You’ve Filed Your Taxes. What Comes Next?
March 18, 2019 David Smagata, DASAt some point in their lives, most Canadians will be subject to a tax audit from the Canada Revenue Agency (CRA). While the process can be anxiety-inducing and stressful, having the right insurance policy can help you prepare for an…