Reforming auto insurance is top of mind for Jeff Gatcke, the new president of the Insurance Brokers Association of Ontario. “Our Number 1 priority would be working with insurance companies and the government on changes to the auto insurance product here in Ontario that I would say are sustainable and in consumer’s best interest,” Gatcke […]
By Greg Meckbach | January 9, 2019
3 min read
Concerns from insurers about boiler explosions has prompted an Ontario safety watchdog to recommend more regulatory oversight of pressure vessels and boilers used in wineries and other agricultural operations, the auditor general noted in a recent report. “Ontario is the only province in Canada where boilers and pressure vessels used in agricultural operations such as greenhouses, […]
By Greg Meckbach | December 12, 2018
2 min read
Identity theft risk increases when banks release customer information to government agencies doing research, an Ontario politician suggests. “The more information flows around, the more likely there is to be a hacking. It’s just like the more you are driving on the highway, the likelier you are going to get in an accident,” Stephen Crawford, […]
By Greg Meckbach | December 11, 2018
2 min read
Data breaches are all over the news, but convincing some corporate clients to spend in the neighbourhood of $1,000 a year for insurance coverage can be an uphill battle. Some cyber insurance products cost around $100 a year, but those are “very rudimentary,” suggests Ray Arndt, president of Lyon & Butler Insurance Brokers Ltd., based […]
By Greg Meckbach | September 24, 2018
3 min read
Legislation on autonomous vehicles needs to be ironed out well in advance of these vehicles becoming mainstream to prevent insurance payout disputes before an injured party receives compensation, an insurance lawyer said recently. Jonathan Grnak, an insurance lawyer with Danson Recht LLP in Toronto, noted in the current auto insurance regime, an insurer will not […]
By Jason Contant | September 11, 2018
3 min read
Canadian provinces seeking guidance on addressing liability issues of autonomous vehicles could look to the United Kingdom as an example, an insurance lawyer told Canadian Underwriter Friday. The UK has a bill in the reading stages that, if passed, would implement changes to the equivalent of Ontario’s Highway Traffic Act to ensure autonomous vehicles are […]
By Jason Contant | September 10, 2018
2 min read
A B.C. broker has had her sales licence suspended for three years after she took approximately $8,000 in premiums without authorization. The broker admitted she took the funds without authorization to pay for a relative’s medical expenses and her intention was to repay the insurance agency. She repaid the agency in full within two weeks […]
By Jason Contant | August 27, 2018
2 min read
The rise of blockchain and cryptocurrency technologies have triggered an explosion in securities litigation, a lawyer specializing in the field said last week during a webinar on the insurance implications of blockchain and cryptocurrencies. Alex Drylewski is a partner of complex litigation and trials with Skadden, Arps, Slate, Meagher & Flom LLP in New York […]
By Jason Contant | August 21, 2018
3 min read
Major infractions committed by Quebec insurance brokers include acting dishonestly, negligently, or not acting with competence and professional integrity, says the disciplinary committee of the Chambre de l’assurance de dommages (ChAD), the province’s self-regulatory body for brokers, agents and claims adjusters. ChAD’s 2017 annual report found that the Top 2 infractions were “carrying on activities dishonestly […]
By Jason Contant | August 16, 2018
2 min read
B.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 and Infrastructure said in a press release last week that the government expects applications from […]
By Jason Contant | July 24, 2018
3 min read