Operations
More communication is needed to inform the broker community about fair treatment of customers (FTC) guidance, since there may be a disconnect or lack of awareness of the topic, the Canadian Council of Insurance Regulators (CCIR) reported recently. In particular, the regulator is focusing on incentive programs that brokerages or carriers may use to boost […]
By Jason Contant | November 13, 2019
3 min read
Hub International has acquired another Canadian employee benefits firm as part of its continuing strategy to expand its offerings in this area, bringing the total number of acquired firms to about two dozen over the past two years. So far this year, Chicago-based Hub has bought about a dozen Canadian employee benefits firms as well […]
By Jason Contant | November 8, 2019
2 min read
Legal / Regulation
Ontario’s broker regulator has the current hard market conditions on its radar screen, scrutinizing what’s happening between brokers and their carrier partners through the lens of consumer fairness. Scott Bell, outgoing president of Registered Insurance Brokers of Ontario (RIBO), made a pointed reference to the hard market during his address at the regulator’s annual general […]
By David Gambrill | November 8, 2019
When there is consolidation in the industry, concerns about the erosion of choice is common. And the tech vendor space is no different. On Oct. 15, Applied Systems announced the acquisition of Policy Works, a major platform for commercial lines business in Canada. About six months prior, the vendor acquired TechCanary, a cloud-based insurance customer […]
By Jason Contant | November 7, 2019
BrokerLink has acquired Newmarket, Ont.-based Buckley Insurance Brokers Ltd., which places home, auto and commercial insurance. Buckley notified its customers Friday by email that it is now part of BrokerLink, which is owned by Intact Financial Corp., owner of Canada’s largest property and casualty insurer. “Robert Buckley and his team of insurance professionals will continue […]
By Greg Meckbach | November 4, 2019
1 min read
Helping homeowners assess flood risk is great way for brokers to increase the value they provide clients – and it’s easy for them to do so, a climate expert says. All it takes is walking the client through potential hotspots, both inside and around the exterior of the home, and showing where preventive action can […]
By Adam Malik | November 1, 2019
For Alberta brokerages, the ability to use a Chartered Insurance Professional (CIP) designation won’t necessarily make it easier for brokers to get licensed, but it will probably provide a better learning experience, officials with the Insurance Institute of Canada suggest. The Alberta General Insurance Council recently approved several Insurance Institute of Canada courses as equivalency […]
By Greg Meckbach | October 30, 2019
HR
All the talk in the White House these days about “whistleblowers” and “no quid pro quo” echoed in the discussions about ethics last Thursday between Canadian insurers and their brokers at the 2019 Insurance Brokers Association of Ontario (IBAO) Convention. Cyprian Kebbianyor, director of compliance and chief privacy officer at Traveler’s Canada, highlighted the importance […]
By David Gambrill | October 29, 2019
Citing a needed “culture change” as just one of the reasons, the body that regulates insurance in Ontario is moving towards being a principles-based group instead of one that is focused on a set of rules. And for those who worry about a lack of teeth, don’t worry, they’ll be ready to bite when necessary, […]
By Adam Malik | October 29, 2019
With all sides seemingly in agreement that auto insurance in Ontario needs a joint effort to get back in shape, the province’s regulator is poised to make it happen. And this requires a review of how much the auto product should cost, in a perfect world. Tim Bzowey, executive vice president of auto/insurance for Ontario’s […]
By Adam Malik | October 28, 2019
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