Where in Canada do brokers get paid the most?
April 25, 2019 by David GambrillLooking to work for brokerages in the highest-paying regions of the country? Check out brokerages in either Alberta or Ontario, according to numbers contained in a recent Deloitte study commissioned by the Insurance Brokers Association of Canada (IBAC). At $70,800…
How sales commissions can result in disputes over vacation pay
April 24, 2019 by Greg MeckbachIf you employ commissioned sales people, how are you calculating their vacation pay? Calculating employees’ vacation pay can be an issue for any company whose sales staff earn both a base salary and commission, Toronto employment lawyer Andrew Monkhouse, managing…
Why this 1997 home fire claim is still active in the courts
April 24, 2019 by Greg MeckbachAn art appraiser who gave evidence in 2007 at a coverage dispute lawsuit against Chubb Insurance Company of Canada is now suing his former client. Bridgette Sagl’s home in Mississauga, Ont. burned down Dec. 16, 1997. Chubb denied her claim,…
One key ingredient missing from this province’s auto reform proposals
April 24, 2019 by David GambrillNewfoundland & Labrador has introduced a slew of changes intended to help stabilize insurance rates – and a cap on minor injuries, implemented in many other Canadian provinces, isn’t one of them. Instead, the provincial government is proposing to raise…
M&A tip: how to avoid acquiring a “data lemon”
April 23, 2019 by Jason ContantInsurance companies or brokerages looking to acquire another company should perform due diligence not just on the financials of the target firm, but also its regulatory vulnerabilities during the M&A process. “The idea is to identify potential data breaches and…
Auto ‘very difficult policy to understand,’ says broker-turned-parliamentarian
April 23, 2019 by Greg MeckbachThe Ontario government wants to make the auto claims process easier to navigate and less cumbersome, a politician who used to be a broker told the legislature last week. “Today when someone has an accident, they are assigned an adjuster,”…
Help your client overcome the stigma of the “breach” word
April 23, 2019 by Greg MeckbachManaging cyber risk effectively means considering the business objectives and setting rules on who can declare a breach has occurred, speakers told insurance professionals at a recent conference. “There is a big connotation as it relates to the word ‘breach,’”…
Is the industry taking a consistent approach to overland flood coverage?
April 23, 2019 by Jason ContantAre carriers taking a consistent approach to covering overland flood? The flood waters sweeping across New Brunswick and Quebec have brought the issue to the forefront. In general, overland flood was not covered in Canada until 2015; only sewer backup…
Toronto van attack survivor deemed catastrophically injured
April 22, 2019 Paola Loriggio - THE CANADIAN PRESSTORONTO – Aleksandra Kozhevnikova doesn’t remember being hit by the van that careened through north Toronto and mowed down pedestrians on a busy thoroughfare last April. Nor does the 92-year-old woman, one of the 16 injured who survived, want to…
Is the grass greener on the other side of insurance?
April 22, 2019 by Jason ContantAre you a personal lines specialist who is attracted by the allure of working in commercial lines? You’re not alone. “I think a lot of people often say, ‘Well, I’m in personal lines and I aspire to commercial because it’s…
Can a Family Law order force someone to “insure” a vehicle?
April 22, 2019 by David GambrillCan a court order a cube van owner under the Family Law Act to “insure” a vehicle that is to be transferred over to an ex? No, the Supreme Court of British Columbia ruled recently. Sukhvir Singh Athwal and Jessie…
Alberta’s new government: What next for the auto rate cap?
April 22, 2019 by David GambrillAs the newly-elected United Conservative Party (UCP) prepares to take power in Alberta, it remains an open question what the victory will mean for the province’s auto insurance companies and brokers. In his electoral victory speech, UCP Leader Jason Kenney…