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Ottawa police laid more charges related to a busted a car theft ring that saw 50 vehicles stolen and totalled $2.5 million in value. It’s a case in which the Insurance Bureau of Canada (IBC) played a key role in helping police. But some things that insurance companies do can muddy the waters, says an […]
By Adam Malik | May 15, 2019
3 min read
Total Loss Series, Part 2: Bottlenecks Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing total loss cycle times by a week. How can the industry do this? Last month, we […]
By David Gambrill | May 13, 2019
7 min read
If you employ commissioned sales people, how are you calculating their vacation pay? Calculating employees’ vacation pay can be an issue for any company whose sales staff earn both a base salary and commission, Toronto employment lawyer Andrew Monkhouse, managing partner and owner of Monkhouse Law, said in an interview. Monkhouse Law announced Tuesday it […]
By Greg Meckbach | April 24, 2019
Newfoundland & Labrador has introduced a slew of changes intended to help stabilize insurance rates – and a cap on minor injuries, implemented in many other Canadian provinces, isn’t one of them. Instead, the provincial government is proposing to raise its existing deductible on bodily injury claims from $2,500 to $5,000. Canada’s home, auto and […]
By David Gambrill | April 24, 2019
2 min read
A Manitoba broker was fined $1,000 fine for not checking to make sure his client’s request for a Single Limit Endorsement was included as part of the client’s home insurance coverage. It wasn’t, as it turns out, and the client only found out about the absence of coverage when making a claim in August 2017, […]
By David Gambrill | April 4, 2019
If you own your brokerage and are concerned you would face a hefty tax bill if you sell the business to your kids, the federal government wants to hear from you. In his 2019-20 budget document, Finance Minister Bill Morneau promised the government will reach out this year to business owners to develop new proposals […]
By Greg Meckbach | March 26, 2019
Nova Scotia’s auto insurance regulator is not letting The Dominion of Canada General Insurance Company take marijuana legalization into account when calculating this year’s rate increases. The Dominion said in a rate change application that claims frequency will likely go up as a result of the legalization of recreational marijuana, the Nova Scotia Utility and […]
A commercial property owner who was sued for $100,000 by neighbours over water damage is unable to appeal to the Supreme Court of Canada. The top court announced March 14 it is denying Marilyn Marks leave to appeal a Court of Appeal for Ontario ruling last year. Marks’s property is in the community of Tottenham […]
By Greg Meckbach | March 18, 2019
A “watershed moment” of industry cooperation could lead in April to what brokers are heralding as the most significant technology breakthrough in broker-carrier connectivity in decades. Representatives of every broker association across the country met in Toronto on Jan. 29, along with 16 to 17 carriers and all of the Broker Management Systems (BSM) vendors […]
By David Gambrill | February 7, 2019
5 min read
Mutual policyholders of Economical Insurance could get more than $300,000 each if the Waterloo-based insurer demutualizes. A conversion proposal that Economical submitted to the regulator last year calls for 20% of benefits going first to eligible mutual policyholders, of which there are 878, Economical said in a policyholder information circular. Another $100 million would go […]
By Greg Meckbach | February 1, 2019
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