Operations

Brokers, mutuals split on tactics after ministry’s controversial phone call

The Canadian Association of Mutual Insurance Companies (CAMIC) and the Insurance Brokers Association of Canada (IBAC) are split on tactics regarding a federal government bill that would allow banks to share customer data with fintechs. Which path better protects consumers is a subject of hot debate. The tactical divergence became obvious after a representative of […]

By David Gambrill | May 22, 2018

3 min read

Operations

How Saskatchewan brokers are handling the French fries challenge

Roughly half the motorists in Saskatchewan lack adequate auto insurance because they are only buying the mandatory minimum required by law from the province’s government-run auto insurer, a broker warns. Saskatchewan’s 70-year-old-plus Auto Fund writes basic minimum liability, damage to or loss of an insured’s vehicle and also covers first-party medical costs and income replacement […]

By Greg Meckbach | May 17, 2018

2 min read

Operations

Sales Incentives

The CIP Society Ethics Series THE ETHICAL DILEMMA The owner of a suburban insurance brokerage reviews the firm’s monthly production figures and is pleased with a recent spike in sales. Over the past several years, his brokerage has been very consistent in terms of premium allocation by carrier and by product line, almost to within […]

May 15, 2018

5 min read

Operations

Behind this brokerage’s plan to build a “best-in-class” employee benefits platform

Hub International’s recent acquisition of a brokerage in Quebec is part of its plan to built a “best-in-class” employee benefits platform for Canada, a spokesperson for the Chicago-based global brokerage told Canadian Underwriter Monday. On May 7, Hub International acquired the shares of Les Avantages Sociaux Delta Inc., operating as the dElta Group. With offices […]

By Jason Contant | May 15, 2018

2 min read

Ontario police sound alarm over impending pot legalization

TORONTO – Ontario’s chiefs of police are again sounding alarm bells about the impending legalization of recreational cannabis, saying federal funding for police operations may not go far enough to cover increased costs. At a news conference held by the Ontario Association of Chiefs of Police in Toronto on Tuesday, Ontario Provincial Police Chief Supt. […]

2 min read

Brokers worried that Ontario auto problems will force companies to exit market

Brokers in Ontario are concerned that if auto insurance in the province remains unsustainable, companies may start to leave the market. Traci Boland, chairwoman of the Insurance Brokers Association of Ontario (IBAO), spoke to Canadian Underwriter Thursday about trends in Ontario auto (as well as home and commercial lines). She said that companies are filing […]

2 min read

Economical set to roll out ‘full training’ to brokers on Vyne

Brokers will soon be able to learn Vyne, Economical Insurance’s Guidewire-based computer system, touted as a way of administering insurance policies with less manual intervention. “Soon we will roll be rolling out full training to 22,000 brokers across the country,” Rowan Saunders, CEO of Economical Insurance, said of Vyne on Monday. Vyne “simplifies workflows” and […]

2 min read

Hub acquires Quebec benefits brokerage

Hub International has acquired the shares of a Quebec benefits brokerage, a move designed to strengthen benefits and retirement offerings throughout Canada. The Chicago-based global insurance brokerage reported on May 7 that it acquired the shares of Les Avantages Sociaux Delta Inc., operating as the dElta Group. With offices in the greater Montreal area, the […]

2 min read

Why this broker sold into the independent broker channel

When Ron Bagnell was looking to retire, handing over his brokerage to the family was not an option, so he sold into the independent broker channel. “My children had no interest in taking over the business, so I knew that at some point, I would have to approach a forward-thinking broker to merge with,” Bagnell, […]

2 min read

Strength of Canadian broker channel may lead to agnostic tech solutions

With an estimated 45% of personal insurance written through the broker channel in Canada, tech vendors understand the importance of the channel. “Our only business is broker,” Jeff Purdy, senior vice president of international operations with Applied Systems, told reporters at a briefing ahead of the Applied Systems Executive Symposium Tuesday. “We don’t have a […]

3 min read