Industry
Licensing exams for Ontario’s brokers are now available in an online, virtually-proctored format, the result of a partnership between the Insurance Institute of Canada and Ontario’s broker regulator RIBO (Registered Insurance Brokers of Ontario). “This is welcome news to many licensing students, as well as companies across Ontario [that] have not had access to in-person […]
By Jason Contant | February 9, 2021
2 min read
Following in Aviva Canada’s footsteps, Co-operators General Insurance Company has received approval from the Nova Scotia auto insurance regulator to use credit scoring as a rating factor to help price auto insurance rates for private passenger vehicles. “The company proposed a new rating variable, Insurance Score, based on credit information obtained with the client’s consent,” […]
By David Gambrill | February 9, 2021
3 min read
VICTORIA – British Columbia’s auditor general says the Provincial Health Services Authority is not effectively managing cybersecurity threats for medical devices and has not evaluated the risk to patients. Michael Pickup says ineffective cybersecurity management means the authority can’t apply proper security controls to its systems and devices, and may not be able to detect […]
1 min read
Brokers have been on the front lines while the global COVID-19 pandemic has tightened its grip on the economy and, in turn, brokers’ clients. Four leading national brokerage executives will take a look at what Canadian brokers can expect as hopes of a return to somewhat normal appear on the horizon. They will be part […]
By Adam Malik | February 8, 2021
Managing general agencies (MGAs) in Canada are currently engaging in very little mergers and acquisitions activity among themselves because the market is still growing organically and is less mature than in other countries, the managing director of the national MGA trade association told Canadian Underwriter recently. “There is very little [M&A] because the sector is […]
By Jason Contant | February 8, 2021
HALIFAX – Most of Nova Scotia, Prince Edward Island and Newfoundland are being pounded by heavy snow and high winds Monday, creating whiteout conditions in many areas. The storm moved into the Maritimes overnight heading west to east and is forecast to continue into Newfoundland and western Nova Scotia later in the day. Environment Canada […]
Insurance Bureau of Canada (IBC) is applauding the Ontario Provincial Police (OPP) on its new towing services guidelines aimed at providing clear direction to tow operators. “These guidelines are another tool to help protect drivers and ensure that at the scene of a collision, the custody of the vehicle always rests with the insurer and […]
By Jason Contant | February 5, 2021
5 min read
A central Ontario long-term care home devastated by an outbreak of a highly contagious variant of COVID-19 is facing a proposed class-action lawsuit from residents’ families who allege their loved ones were neglected by those charged with keeping them safe. The unproven statement of claim filed to the Ontario Superior Court of Justice alleges Roberta […]
4 min read
Globally, the COVID-19 pandemic may not have affected insurers’ balance sheets in the same way that weather-related disasters did in 2020, but the industry is now much more aware of the impact of multiple catastrophe scenarios unfolding at once, an Aon report suggests. As a result, Aon’s CEO Greg Case predicts that private insurers will […]
By David Gambrill | February 4, 2021
Messaging around distracted driving hasn’t worked, so it’s time to come up with a new strategy to reduce driving risk, a panellist on a recent webinar suggested. Instead of saying how bad it is to be distracted, insurers and governments should be educating drivers to scan their surroundings for threats, said Jay Winsten, director at […]
By Adam Malik | February 4, 2021
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