HR
A rule requiring disciplinary hearings of Ontario brokers be open to the public is currently included in the province’s budget implementation bill, which has yet to be passed. The Insurance Brokers Association of Ontario (IBAO) told Canadian Underwriter Wednesday it has been “vocal” in its support of “increased transparency of Registered Insurance Brokers of Ontario,” […]
By Jason Contant | November 30, 2017
2 min read
Canadian property and casualty (P&C) insurers seeking to advance their artificial intelligence (AI) capabilities will have a tough time recruiting data scientists to help them transform their data into genuine business insights, says a recruiter who works with the P&C industry. “I think there’s a lot of talk in the marketplace that this talent is […]
By Jason Contant | November 29, 2017
Darius Delon, a consultant and president of Risk Management 101, told Canadian Underwriter Monday what he sees as the top concerns for risk managers. Here are his Top 3 risks: Number 1: Awareness about legislative changes In some instances, organizations are not aware of legislative changes that have already been made—to say nothing of upcoming […]
By Jason Contant | November 27, 2017
Quebec regulator names inaugural fintech director The Autorité des marchés financiers (AMF), the regulatory and oversight body for Québec’s financial sector, has appointed Moad Fahmi to the new position of director of fintech and innovation. “This new function will foster the collaboration that is essential to developing Québec’s fintech ecosystem,” said Louis Morisset, AMF president and CEO. “It is […]
By Jason Contant | November 26, 2017
3 min read
Ontario’s recent minimum wage hike up to $15 per hour ruffled a few feathers within the business community, but the new legislation didn’t raise much of a fuss within the property and casualty (P&C) insurance sector. “On this particular issue, we reached out to member companies when the legislation was first proposed, and we were […]
While it remains to be seen whether or not the industry’s anticipated move to automate “paper pushing” roles over the next decade will spawn major job losses, the industry may have an easier time attracting youth to the more advanced roles that emerge. “Certainly, there has been much anticipation that technology will start to eliminate […]
By Jason Contant | November 24, 2017
Continuing Education (CE) for brokers will likely make its way onto mobile devices in the short term, with the world of Virtual Reality classrooms to follow over the longer term — perhaps in the next five to 10 years, says an award-winning contributor to Canadian broker education. Greg Mansfield, education department manager at the Insurance […]
By Jason Contant | November 21, 2017
Toronto Insurance Conference (TIC), an association of Canadian commercial insurance brokers, is poised to launch a proof of concept leading towards real-time data integration — the “the holy grail” of commercial lines insurance. It’s a big step towards real-time data integration in commercial lines, which is somewhat behind personal lines in coming up with a […]
By Canadian Underwriter | November 19, 2017
Economical Insurance has hired a new personal lines EVP, while The Guarantee Company of North America’s former chief executive officer is now a senior fellow for the C.D. Howe Institute. Economical welcomes MacDonald to the team Economical Insurance announced Tuesday that Paul MacDonald will join Waterloo, Ontario-based Economical as executive vice president of personal insurance […]
By Canadian Underwriter | November 17, 2017
Responding to an insurer’s call for carriers and brokers to find tech solutions to help solve the industry’s “administration problem,” brokers have responded by welcoming such a dialogue, citing several initiatives already dedicated to the task. RSA Canada president and CEO Martin Thompson gave a presentation on technology at the Insurance Institute of Canada on […]
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