Enforcing existing building codes, bringing in new construction standards and improving community planning are among the measures governments can take to mitigate the cost of property losses from natural catastrophes, industry watchers say. And arming consumers with better information about…
A small portion of consumers want to buy insurance online without talking to somebody, Robyn Young, CEO of Excel & Y Insurance Services, told Canadian Underwriter in an interview for the December-January issue. “Do I think that’s the best way…
A federal advisory committee’s recommendation to prohibit the use of banking data in underwriting, during the proposed initial phase of open banking in Canada, is a partial but not a complete victory for Canada’s national brokers’ association. In its final…
With the global COVID-19 pandemic affecting specific sectors harder than others, brokers may see the value in the diversification of their offerings so as to not have their business depend on the success of one sector, says one broker leader.…
Insurers are becoming more meticulous around what they deem to be a good risk and that extra scrutiny is giving brokers heavier workloads, broker leaders say, and it could force brokers to limit how much they take on. Interest rates…
Insurance companies responded well and appropriately to the COVID-19 pandemic in terms of assisting customers by way of premium relief and other measures, according to industry experts. Canadian Underwriter recently checked in with insurers on the current status of relief…
The Insurance Brokers Association of Canada (IBAC) has announced the appointment of Tom Reid as the new broker connectivity lead for the association’s Data Exchange (DX) project. “Broker connectivity is a key priority for IBAC, and the pandemic has intensified…
Canadian brokers are now turning their minds towards returning back to the office safely while the novel coronavirus pandemic is still underway and a vaccine has yet to be developed. Brokerages across Canada will need to be aware of what…
Some brokers will be getting their commission payments sooner from Travelers Canada, the company announced just before the Easter weekend. The move is being applauded by the Insurance Brokers of Canada (IBAC). Those who are on an annual payment system…
While the Insurance Brokers Association of Canada (IBAC) is encouraging homeowners to contact brokers about earthquake and overland flood risk, it is not aiming to shock or scare the living daylights out of consumers. “We consciously chose not to use…
Kent Rowe is now the president of the Insurance Brokers Association of Canada. Rowe, a former president of the Insurance Brokers Association of Newfoundland, was inducted into his new role after IBAC’s annual general meeting Thursday. By day, Rowe works…
Chris Floyd, president of individual insurance services at the Ontario Teachers Insurance Plan (OTIP), is the new president of the Insurance Brokers Association of Canada. IBAC announced Monday its new leadership team, which was confirmed October 5 at its annual…