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If you’re looking to place non-standard auto coverage for your client, rest assured that one insurer remains committed to that marketplace. “Through Echelon, we are absolutely committed to being in that, I’ll use the word specialty market. I don’t like calling our insurance non-standard,” Matthew Turack, president of CAA Insurance, said during the Insurance Brokers […]
By Jason Contant | October 27, 2021
3 min read
Bad publicity is still publicity, provided you take it seriously and handle it correctly. “Reviews let us see how we’re doing and allow other potential customers to see how we’re doing in creating the best possible experience for our customers,” said Alex Hillhouse, team leader with the sales department at Mitchell & Whale in Whitby, […]
By Phil | October 27, 2021
2 min read
When it comes to working with brokerages, embracing the future is more important than size, said Carol Jardine, president of Wawanesa Insurance’s Canadian P&C operations. “A broker who’s embracing the future today might not be that large, but if they embrace the future properly, marry the digitization with the consumer touch and if they’re able […]
OTTAWA – The Bank of Canada is warning inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be coming sooner than expected. The central bank said Wednesday it now forecasts that annual inflation rates will continue their upward swing through the rest of year, averaging 4.75 […]
4 min read
The sun brings light, warmth … and solar flares that pose risks for aging power grids in Canada and worldwide, panellists told a recent Property and Casualty Insurance Compensation Corporation (PACICC) webinar on emerging risks. While routine blackouts generally happen due to severe storms, human error and other factors, and are usually confined to smaller […]
By Phil | October 26, 2021
While usage-based insurance (UBI) has been around for nearly nine years in Canada, a new survey shows only 57% of Canadians have heard of UBI and 81% of those surveyed have not tried it – presenting an opportunity for brokers to educate consumers and sell them a money-saving product. The survey by Ratehub.ca, which polled […]
VICTORIA – British Columbia has introduced a plan to reach its legislated target to reduce greenhouse gas emissions by 2030 with initiatives like slashing the number of kilometres driven by 25 per cent compared with last year and boosting the carbon tax. The strategy announced Monday requires that 90 per cent of passenger vehicles sold […]
By Jason Contant | October 26, 2021
Brokers dealing with claims management should explore ways to hone their client skills in several categories, say business respondents to Canadian Underwriter’s Trusted Advisor 2021 survey. Only 36% of respondents – commercial clients of the brokers – said they were satisfied or very satisfied that their broker “helped me through the claim process to clear […]
Black swans are normally seen as improbable events (the dot-com bubble or 2008 meltdown) affecting the financial industry. But organizations must also consider the black swans that could be swimming among their many risk exposures. “It’s reasonable to expect a loss to occur, but it’s not reasonable to expect a catastrophic loss that would change […]
By Phil | October 25, 2021
Canada’s managing general agent association will unveil a ‘smart and self-regulatory’ regime in early November, the association’s managing director told Canadian Underwriter Monday. “This is something the association has been working on since earlier this year,” Canadian Association of Managing General Agents (CAMGA) managing director Steve Masnyk said. “It’s been a long road as we […]
By Jason Contant | October 25, 2021
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