Industry
Brokers placing directors and officers (D&O) liability insurance can expect “more new products” this spring from Intact Insurance, given the company’s acquisition of OneBeacon Insurance Group Ltd. in September 2017, an official said Monday. Speaking during Intact’s Investor Day, Mike Miller, president of U.S. and specialty solutions at Intact, made it known the company was […]
By Greg Meckbach | March 29, 2018
2 min read
The Ontario government’s 2018-19 budget document provides some comfort for auto insurers because the province is committing to having the new regulator up and running by April 2019. The Financial Services Regulatory Authority, which will effectively replace the Financial Services Commission of Ontario (FSCO) in regulating auto insurance, “is working towards becoming fully operational by […]
TORONTO – Hundreds of health-care providers in Ontario are billing insurance companies for an improbable number of daily hours spent treating car crash victims, recent insider data suggest. However, no one appears to be leading a charge against the potentially fraudulent overbilling worth millions of dollars a year, leaving it to drivers to pick up […]
By Jason Contant | March 29, 2018
4 min read
Canada’s largest property and casualty insurer is prepared to lose market share on auto in order to improve its bottom line, company officials said Monday. “We have been and continue to be prepared to lose market share in order to fix our short-term challenges,” Darren Godfrey, senior vice president of personal lines for Intact Insurance, […]
1 min read
Newfoundland and Labrador’s decision to remove 5% of the retail sales tax paid on auto insurance premiums over the next four years will help return stability to the market, the Insurance Bureau of Canada (IBC) said Tuesday. Tom O’Handley, manager of government relations in the Atlantic region for IBC, said in a press release that […]
By Jason Contant | March 27, 2018
Brokers expecting to see price hikes in property lines after last year’s devastating hurricanes may have good news for clients, at least in the short term. “Long term, all of the carriers will need to increase pricing and they would all like to, and they are probably telling their brokers they should be,” said Chris […]
By Greg Meckbach | March 24, 2018
3 min read
Employers may be hard-pressed to ban marijuana outright from the workplace once The Cannabis Act is implemented in Canada, a lawyer told delegates attending the Ontario Mutual Insurance Association (OMIA) Thursday. “Both bills [related to The Cannabis Act, Bills C-45 and C-46] are actually silent when it comes to employment and occupational safety,” said Sandra […]
By David Gambrill | March 24, 2018
With an Ontario election scheduled in three months, there is no telling what – if anything – a new government would do with the auto insurance file. If the Ontario election were held today, the new premier could very well be Doug Ford, recently elected to lead the opposition Progressive Conservative party. “There is no […]
By Greg Meckbach | March 20, 2018
Two men injured on the job when their truck swerved to avoid a moose are entitled to receive accident benefits, even though they opted out of Workplace Safety Insurance Act (WSIA) benefits to join a class action lawsuit that ultimately failed. The failure of the class action “is not the type of later event that […]
By David Gambrill | March 17, 2018
With rates on the rise in personal home and auto insurance lines, retaining existing clients could potentially be a great growth strategy for brokers going forward, Aviva Canada advises. “The opportunity to get more rate from existing clients is one important lever of a growth strategy for brokers,” Jason Storah, executive vice president of broker […]
By David Gambrill | March 15, 2018
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