How to give your small business clients an online quote in 3 minutes
July 26, 2018 by David GambrillIntact Insurance has launched its new Commercial Property and Liability insurance Quick Quote, a tool designed to give small business owners an insurance quote on their business in about three minutes. The online commercial property and liability quoting tool follows…
Nova Scotia defends controversial plan to sell cannabis in liquor stores
July 26, 2018 The Canadian PressHALIFAX – Nova Scotia is defending its unique cannabis retail scheme that will sell weed in existing liquor stores amid criticisms the arrangement poses a public health risk. A Halifax psychology professor issued a news release criticizing the model, which…
Controversy swirls around province’s plan for ridesharing insurance
July 24, 2018 by Jason ContantB.C.’s provincial government will introduce legislation to enable ridesharing in the province by fall of 2019, prompting the industry’s private insurers to say they can provide ridesharing insurance faster and better than the province’s public insurer. B.C.’s Ministry of Transportation…
Advertisement New wildfire index fights a $5.6-billion problem
July 24, 2018 Opta Information IntelligenceWith wildfire losses reaching a whopping $5.6 billion in the past 10 years, there is an urgent need for a solution that can help insurers price the risk accurately, as well as to help municipal and provincial governments know their…
The preferred way to transfer risk of automated cars: Travelers
July 22, 2018 by Jason ContantThe public policy division of Travelers is recommending that a “clear risk transfer mechanism” be in place to adapt auto insurance for autonomous vehicles. “While there has not been widespread attention paid to how liability and compensation will be addressed as…
Winter tire claims statistics took biggest insurer by surprise
July 22, 2018 by Greg MeckbachWhen Intact started giving discounts on auto insurance to people with winter tires, the result appeared to be counter-intuitive. Motorists insured by Intact who reported having winter tires installed “were having worse loss ratios” than those driving in the winter…
Where Canadian drivers pay the most (and least) for auto insurance
July 19, 2018 by Jason ContantWhen it comes to auto insurance premiums in Canada, drivers in British Columbia pay the most, followed by Ontario, data supplied by Insurance Bureau of Canada (IBC) revealed Wednesday. In B.C. last year, average annual auto premiums were $1,680. The…
Supreme Court to determine fate of Lloyd’s payment in $5.6-million shipping loss
July 19, 2018 by Greg MeckbachThe Supreme Court of Canada has agreed to hear a dispute that will determine whether a Lloyd’s insurer may recover some of the claim money it paid out arising from a $5.6-million cargo ship loss on the St. Lawrence River.…
The client that should resemble a jail
July 18, 2018 by Greg MeckbachOnce the new cannabis regulations take effect this October, commercial brokers servicing marijuana-producing clients should ask clients what they are doing to keep their production facilities secure. If a commercial underwriter gets an application for insurance from a cannabis grower,…
Top 10 Canadian insurer partners with Slice for new digital brand
July 18, 2018 by Jason ContantThe Co-operators and insurtech Slice Labs announced Wednesday a partnership to allow the insurer to launch a new digital insurance brand in Canada. The first product – underwritten by The Co-operators – will be a pay-per-use homeshare offering under the brand…
How Canadian brokers can cut out the ‘middleman’ – the insurers
July 17, 2018 by David GambrillCanadian insurance brokerages have already made inquiries to an Estonian-based insurance company that is working on a revolutionary blockchain distribution model. Black Insurance is setting its sights on cutting out the “intermediaries” in the insurance sales process – the insurance…
Tips for brokers on insuring high-value homes
July 12, 2018 by David GambrillHigh-value homes are good for business, knowing how to rate them properly is a must. Brokers need to be aware that high-value, custom-built homes or renovations should not be put on Standard Build when determining insurance to value, a broker…