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News AssociationsBrokers

Why this purported ‘brokerage’ website caught RIBO’s eye

May 30, 2021 by Greg Meckbach

Hidden Ace Brokerage, which purports to be “fighting high insurance rates” in the greater Toronto area, and says it “takes pride in delivering the quotes that insurance companies don’t want you to see,” is not authorized to place home or

News Insurance

How to handle three made-in-COVID client situations

March 8, 2021 by Adam Malik

The COVID-19 pandemic has created a series of unique risk exposures for Canadian policyholders, and industry experts gave a crash course on how they would handle these newly common scenarios. Three made-in-COVID situations presented themselves to clients over the past

News AssociationsBrokersInsurance

How stay-at-home order impacts Ontario brokers

January 15, 2021 by Greg Meckbach

Some Ontario brokers still need to work in their bricks-and-mortar offices amid the strict lockdown imposed Thursday by the provincial government. Although many brokerages are digital and have staff working from home, others are at the “opposite end of the

News AssociationsBrokersTechnology

IBAO’s stance on electronic termination of coverage

November 24, 2020 by Greg Meckbach

Insurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto

News AssociationsCatastrophesClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRisk

IBC talking to feds about future pandemic risk transfer

November 2, 2020 by Greg Meckbach

The Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the

News AssociationsBrokersClaimsClaims CanadaCommercial LinesRisk

How IBC plans to help restaurants find insurance

October 29, 2020 by Greg Meckbach

Clients in the hospitality sector who cannot find affordable coverage can now go directly to the Insurance Bureau of Canada for help. IBC has hired a risk manager to help commercial clients improve their risk profile, said Jordan Brennan, IBC’s

News BrokersTechnology

What carriers are telling brokers who don’t invest in technology

October 26, 2020 by Greg Meckbach

With a week to go before Hallowe’en, Ontario brokers heard some spooky stories last week about what happens if a brokerage does not invest in keeping up to date with technology. “Technology is going to be a much more permanent

News AssociationsBrokersLegislation / RegulationMarkets / Coverages

Intact’s take on regulating commercial ‘middle players’

October 26, 2020 by Greg Meckbach

Government and the industry should take a close look at the structure and regulation of “middle players” in the commercial property and casualty insurance market, Ontario brokers heard last week at their annual convention. “We know there are some things

News AssociationsBrokersMergers and Aqcuisitions

The downside of selling for 4 times multiple during COVID

October 23, 2020 by Greg Meckbach

Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15

News AssociationsBrokersClaimsClaims Canada

Why reinsurers are now ‘hesitant’ to support some Canadian insurers

October 22, 2020 by Greg Meckbach

One lesson from the economic disruption from COVID-19 is the importance of telling clients exactly what risks are and are not covered, an Insurance Brokers Association of Ontario panelist suggested Thursday. “Business interruption class action litigation does not attract capital

News AssociationsClaimsClaims CanadaInsuranceLegal

Why brokers are going to get sued over pandemic business interruption claims

October 21, 2020 by Greg Meckbach

Some brokers are going to get sued by clients whose COVID-19 business interruption claims were denied, a keynote speaker warned Insurance Brokers Association of Ontario (IBAO) members Wednesday. “The main area of claim will be failure to advise of potential

News Mergers and Aqcuisitions

Will a hard market fuel or stall M&A?

June 11, 2019 by Adam Malik

Mergers and acquisitions during a hard market are likely to play out differently depending on whether you’re looking at things as a broker or a carrier. On one side, a hard market may be the fuel to keep the fire