If the Ontario government wants to take one small step towards reducing auto insurance premiums for its drivers, it might consider dropping its administrative charges for drivers and their insurers to obtain three-year driving records, one industry professional suggests. “Assuming…
A 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…
We’ve all heard about multi-channel insurance companies that sell through the broker channel while at the same time beefing up their direct channel. But how about CAA Insurance, a direct writer that has become a multi-channel writer by building up…
A Supreme Court of Canada decision released today means Wawanesa Mutual Insurance Company does not have to cover a claimant who says he drove off the road to avoid an oncoming vehicle. Andrew Funk was injured after he drove his…
Editor’s Note: This article has been updated. A previous version incorrectly stated that duuo was launched at Slice Labs’ launch studio in Toronto. CU apologizes for the error. If you want to develop a new digital insurance product, it shouldn’t…
Canadian property clients could soon get an insurance discount by installing products from water flow sensing vendor Triple Plus Ltd. Triple Plus recently announced a pilot project in which American clients of Berkshire Hathaway GUARD can get lower property insurance…
Validus 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…
If 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…
Brokers looking to sell commercial coverage to small businesses need to keep it simple, fast and client-specific, industry professionals told Canadian Underwriter Thursday. Sometimes when buzzwords like artificial intelligence, blockchain and chatbots dominate the conversation, the cart comes before the…
Having a flexible and accommodating schedule is key to incorporating innovation into an organization, the director of Wawanesa Mutual Insurance Company’s Innovation Outpost said recently. Last June, Wawanesa opened its Innovation Outpost lab in Kitchener, Ont. One of the first…
For insurance professionals who put together renewal packages, some mistakes are worse than others. A case in point is sending a “quality package” that refers to a different kind of policy, rather than the policy you are renewing for the…
Technology and data will change the underwriter’s job but will not eliminate it, suggests Russell Johnston, chief executive officer for North America of QBE Insurance Group Limited. “At the end of the day, people still make the decisions,” Johnston said…