For insurance purposes, if it’s not managed as a strata, it’s still a strata: Tribunal
November 19, 2020 by David GambrillThe owner of a strata lot in a duplex that was not managed as a strata — for example, there was no strata board of directors, annual board meetings, etc. – must nevertheless pay for her half of the strata…
These types of businesses are in serious need of a cyber policy
May 28, 2020 by David GambrillWith ransomware and financial fraud on the rise, smaller businesses in Canada are vulnerable, particularly less-sophisticated organizations that move large amounts of money. For smaller brokerage houses selling cyber, examples of your next opportunities may be car dealers, people involved…
Executive Outlook 2020 | Martin Thompson, RSA
December 27, 2019 by David GambrillMartin Thompson, President, CEO, RSA Canada Disciplined underwriting is the anchor that the P&C industry needs right now. The insurance industry is currently experiencing some pain. Investment returns have been following a general downtrend over the last two decades, from…
What brokers can learn about customer service from an airline, a steakhouse and a boot shop
September 25, 2019 by Adam MalikEighty percent of CEOs believe they provide great customer service, according to a recent survey from IBM. However, only 8% of customers believed they receive such service. That disconnect could be killing your brokerage. “If you’re sitting here right now…
What insurers requested of police chiefs
June 24, 2019 by Adam MalikInsurers 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…
What cabinet upheaval means for auto reform progress
June 24, 2019 by Adam MalikOntario Premier Doug Ford has made drastic changes to his cabinet just months after including auto reforms in its first budget. Taking over as finance minister – and in effect, the auto insurance file – will be Rod Phillips. The…
How much of your salary would you give up for more meaningful work?
June 24, 2019 by Jason ContantHow much would you give up in annual pay for more meaningful work at your brokerage? A recent study of 1,500 Canadian office workers found that almost half of them would give up nearly $9,000 in an annual pay raise…
Why insurers can expect claims from the Raptors parade
June 21, 2019 by Adam MalikIt won’t surprise at least one lawyer to hear about insurance claims stemming from the Toronto Raptors championship parade. There were plenty of exposures present during the event on June 17, mainly because of a lack of resources available and…
What open banking means for brokers
June 21, 2019 by Greg MeckbachBrokers 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,…
Why climate change might be worse than you think
June 21, 2019 by Greg MeckbachIf you are using today’s climate models to predict the frequency and severity of tomorrow’s severe weather, your estimates could be off, suggests a recent convocation speaker at a major Canadian university. Recent unusual patterns in the jet stream are…
Here are the most common type of travel insurance claims
June 20, 2019 by Jason ContantThink you don’t need travel insurance? Think again. According to a recent survey conducted on behalf of RBC Insurance, just over one-quarter (26%) of 1,000 Canadians polled have made an insurance claim as a result of something that happened to…
What brokers think of this tax change on auto insurance
June 20, 2019 by Jason ContantThe Insurance Brokers Association of Newfoundland and Labrador (IBAN) is happy with regulatory amendments that would eliminate the remaining 13% retail sales tax (RST) on auto insurance in the province. “IBAN is pleased to see the elimination of the RST…