Operations

B.C. broker suspended one year for misrepresenting principal driver of her car

A B.C. broker’s license has been suspended for one year after a regulatory investigation into her processing her own ICBC Autoplan transactions uncovered that she had misrepresented the principal driver of her personal vehicle on several ICBC policies. “Council found [the broker’s] decision to misrepresent the principal operator of her personal vehicle for several years […]

By David Gambrill | August 18, 2022

3 min read

Are brokers and agents marketing effectively to women?

More than 60% of women don’t have an insurance agent, compared with fewer than half (48.1%) of men, according to a new study from Zelros, a Paris-based insurtech with offices in Montreal and New York. The survey includes data from respondents in Canada, the U.S., U.K., France and Germany. What’s more, 61% of women respondents […]

By Phil | August 18, 2022

2 min read

Operations

As inflation and supply chain concerns ease, will insurers adjust pricing?

Supply chain issues driving inflation since early in the COVID-19 pandemic remain a concern, although emerging signs suggest some trends impacting global goods pricing are starting to abate. “We’ve seen some easing of the supply chain challenges,” said Colette Taylor, chief operating officer of Sovereign Insurance. “You’re not seeing so many boats [in harbours] waiting […]

By Phil | August 16, 2022

2 min read

Operations

How P&C companies can improve their DEI outlooks

Although many in the industry understand the value of diversity, equity and inclusion (DEI), companies that aren’t sold on the value proposition may nevertheless benefit from viewing DEI as risk management, suggests The Canadian Association of Black Insurance Professionals (CABIP). “We’re in the insurance and risk management [industry] and if you’re not taking a risk […]

By Alyssa DiSabatino | August 11, 2022

3 min read

Navacord makes its largest deal of the year

Navacord Corp. has completed its 20th and largest M&A deal of the year following its partnership with Insurance Store, effective Aug. 1, 2022. Headquartered in Windsor, Insurance Store has five offices across Ontario in Barrie, Collingwood, Chatham, and Woodstock, and also services customers in British Columbia. The brokerage was founded in 1945 and offers […]

1 min read

Ontario re-ignites commitment to auto insurance reform

The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter. The budget document reaffirms the government’s commitment to creating more choice for consumers, cracking down on auto […]

2 min read

Why some small business owners don’t have insurance

Almost 40% of small business owners say they don’t have a business insurance policy, and another 25% say they don’t think they need it, finds a recent survey of 222 small business owners and self-employed professionals in Canada. The survey also asked respondents if they have a business insurance policy and how often they […]

2 min read

The latest commercial brokerage to snap up an employment benefits firm

In keeping with the trend of Canadian commercial insurance brokerages offering expanded financial services, Westland Insurance Group yesterday acquired one of Ontario’s largest employee benefits consulting groups, The Winch Group. The Winch Group is a full-service brokerage specializing in employee benefits, financial planning, and estate and retirement planning. “Expanding in the benefits consulting business with […]

2 min read

Intact provides update on RSA integration

A year after RSA Insurance Group plc was acquired by Intact Financial Corporation, nearly all personal lines broker policies, and commercial lines small business and fleet policies in Canada, have been converted to Intact systems, the insurer reported. “I’m pleased to see that the integration is very much on track in Canada. Policy conversion in […]

3 min read

IBC names new chairwoman

Heather Masterson is the new chairwoman of the Insurance Bureau of Canada (IBC) having been elected by the board of directors, the association announced Thursday. She brings a quarter century of industry experience, market and broker expertise, and executive leadership to the role, IBC said in a press release. “As the voice of Canada’s property […]

By Phil | July 29, 2022

2 min read