Fostering Resilience: The Crucial Role of Trust in Your Insurance Partner
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December 1, 2023
3 min read
What high interest rates mean for P&C investments
The Bank of Canada announced it would raise interest rates to 5% in October to help control inflation, but the P&C industry warns those high interest rates can wreak havoc on insurers’ investment portfolios. It’s not all doom and gloom, though. Stable, high interest rates have a possibility of generating favourable returns over time, experts […]
November 30, 2023
3 min read
Police, insurers collaborate to dismantle auto theft ring
Ontario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario police force reported Wednesday. As part of the investigation dubbed Project Memphis, nine high-end stolen vehicles valued at more than $1.2 million were recovered, PRP said […]
November 30, 2023
3 min read
How to recruit underwriters when job candidates get multiple offers
Competition for available qualified underwriting talent is fierce. “We’ve got candidates in the mix that will often have two or three offers in hand,” said Stefan Rolfe, associate director of insurance at Impact Recruitment. “And they can often bounce one off another.” That puts the ball in the candidate’s court. If underwriting firms want to […]
November 30, 2023
2 min read
‘Vacancy’ confusion in a home insurance policy: what the court said
A Nova Scotia court awarded more than $225,000 against a home insurer after its telephone agent placed coverage for a couple’s newly purchased house, when in fact it was unclear if the property was vacant, thus triggering a policy exclusion for water damage. Nova Scotia’s Supreme Court upheld TD Insurance’s policy exclusion for the new […]
November 29, 2023
4 min read
Psychologist fined over accident benefits statements
An Ontario registered psychologist has been fined $15,000 and suspended from practice for a total of 24 months after a regulator found he made misleading accident benefits statements to insurers. The Financial Services Regulatory Authority of Ontario (FSRA) has imposed a compliance order against Romeo Vitelli, which prohibits him from conducting examinations, assessments, or treatment […]
November 29, 2023
3 min read
Uniting industries to tackle the auto theft crisis
Canada’s auto theft rates have reached crisis levels. With provinces across the country experiencing double digit increases in the first half of this year, the industry is estimating $1 billion in losses for 2023. The financial and emotional stress associated with having a car stolen is without a doubt taking a toll on Canadians, and […]
November 28, 2023
3 min read
Merger creates scale for two Ontario brokerages
Selectpath Insurance, a Navacord brokerage, has partnered with Myers Insurance to enlarge the southwestern Ontario presence of each brokerage. Headquartered in Wallaceburg, Ont., and with an office in Corunna, Myers Insurance is a second-generation multi-lines brokerage run by president Jim Myers. The business started with Myers’ father in 1944. Myers Insurance offers a wide variety […]
November 28, 2023
2 min read
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