Flood victims win lawsuit against neighbour over laneway access
March 18, 2019 by Greg MeckbachA commercial property owner who was sued for $100,000 by neighbours over water damage is unable to appeal to the Supreme Court of Canada. The top court announced March 14 it is denying Marilyn Marks leave to appeal a Court…
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…
The big concern among commercial clients about cyber policies
March 15, 2019 by Greg MeckbachSome commercial clients are looking for more consistency across the industry in cyber policy wording. Survey data shows cyber is the Number 1 hot topic for members of Risk and Insurance Management Society (RIMS) Inc., said Jennifer Goodwin, chair of…
How bad financials can affect your client’s insurance rates
March 15, 2019 by Greg MeckbachDo insurers really care about a client’s balance sheet? A former lawyer who represented The Trump Organization recently suggested clients could get a good rate if the broker could be certain that the client could pay the premium. Brokers contacted…
Broker fined for failing to review with his client a $1.4-million coverage change
March 14, 2019 by David GambrillA Manitoba broker is out of pocket $1,000 for failing to review with his client a $1.4-million change to a client’s commercial property insurance policy. On Dec. 12, 2011, an insurer requested renewal instructions from Manitoba broker Horace Smaczylo, as…
How recreational cannabis has created numerous challenges for insurers
March 14, 2019 by Greg MeckbachCannabis legalization is making things more complex for auto insurers and increasing risk for some commercial property clients, A.M. Best Company Inc. suggests in a recent report. About 25 insurers, most of whom are non-admitted, provide coverage for cannabis risks…
Renowned independent broker returns to the big stage with a new brokerage
March 13, 2019 by David GambrillA big name in Manitoba’s independent brokerage community, Peter Leipsic, is making a return to the scene as a senior partner at a new brokerage called Dimensions Insurance Management Inc. He was executive vice president at Horizon Insurance (the province’s…
This global reinsurer is applying for a Canadian branch office
March 13, 2019 by David GambrillValidus Reinsurance Ltd., a Bermuda-based reinsurer acquired by AIG last year for $5.5 billion, is looking to establish a Canadian branch office. Validus intends to file an application with the Office of the Superintendent of Financial Institutions (OSFI) on or…
The strategy behind BrokerLink’s latest acquisitions
March 12, 2019 by Greg MeckbachIf you run a brokerage in Ontario, Alberta or Atlantic Canada and there is no BrokerLink in your town, there soon could be. Intact Financial Corp.’s BrokerLink unit has closed seven brokerage acquisitions since Jan. 1, said Paul Meyer, BrokerLink’s…
Institute serves up a new look to insurance education
March 12, 2019 by David GambrillPerhaps you have noticed something different lately about some of the course materials for your Chartered Insurance Professional (CIP) designation? If you open up your new textbook for the CIP course, Underwriting Essentials, for example, you will notice something new…
How RSA plans to shore up its personal lines results in Canada
March 11, 2019 by David GambrillExpect RSA in Canada to take remedial underwriting actions in its personal lines portfolio – including auto rate increases of between 3% and 16%, and potentially selected broker cancellations – in order to shore up results after a tough year…
Zurich Canada names new head of property
March 11, 2019 by David GambrillYvonne Steiner has been named head of property for Zurich Canada. She will be a member of the Zurich Canada executive team and report to Zurich Canada CEO Saad Mered, effective Apr. 15. “We are very excited to have a…