Industry
Brokers looking to acquire good producers should consider poaching association executives from the brokerage’s target markets.Al Diamond, president of Agency Consulting Group, offered the tip in his seminar at the 91st Annual Convention of the Insurance Brokers Association of Ontario (IBAO) on Oct. 21, entitled Paying for Productivity-Acquiring, Compensating and Managing Producers in the 21st […]
By Canadian Underwriter | October 21, 2011
2 min read
Brokers should not hold their breath waiting for a common, industry-wide technology solution to help resolve the ongoing conundrum of broker-carrier connectivity, a panel of insurance company CEOs suggested at the 91st Annual Convention of the Insurance Brokers Association of Ontario (IBAO) in Toronto on Oct. 20.Brokers have long called for some form of standardized, […]
3 min read
George Cooke, president and CEO of The Dominion, challenged other insurers to cancel their business with brokerages that have been purchased by a competitor insurer.Cooke was a member of the CEO panel at the Insurance Brokers Association of Ontario’s 91st Annual Convention in Toronto on Oct. 20.When discussing the recent acquisition of Western Financial by […]
The implementation of Solvency II will likely be delayed from its intended Jan. 1, 2013 start date, Guy Carpenter reported. In its Oct. 20 edition of GC Capitalideas.com, Guy Carpenter noted that the results of fifth the quantitative impact study (QIS5) and a three-month Solvency II stress test launched by the European Insurance and Occupational […]
By Canadian Underwriter | October 20, 2011
ICBC has teamed up with police forces to remind drivers to be prepared and adjust their speed when driving on wet or icy roads this fall and winter. In October, there are on average 64 crashes involving injuries or death in the Lower Mainland of B.C. due to people driving too fast for the conditions. […]
1 min read
The Citizens on Patrol Program (COPP), a crime prevention program sponsored by Manitoba Public Insurance (MPI), has expanded to include 66 active groups and 1,800 COPP volunteers dedicated to reducing crime within their communities and neighbourhoods. COPP is a grassroots program specifically designed to serve as a highly visible crime deterrent. This crime-prevention and education […]
Ontario’s insurance brokers appear to be making some headway with insurers in making sure brokers have a role in educating consumers about the use of predictive analytics in insurance underwriting.Statistical data packages that insurers use to underwrite insurance are becoming more sophisticated, allowing insurance underwriters to consider more variables when calculating premiums associated with a […]
Quebec’s insurance brokers are closely monitoring the impact of Intact Insurance’s merger with AXA Canada, which has “totally changed the market” in the province, according to the provincial broker association’s president elect.Regroupment des cabinets de courtage d’assurance du Québec (RCCAQ) president elect Catherine Mainguy gave a brief summary of several issues facing Quebec’s property and […]
Ontario brokers need to start communicating with Generation Y consumers using the means with which they prefer to communicate – text primarily, then email – or else risk losing out on communicating with a large chunk of the province’s consumer demographic.Jason Ryan Dorsey of the Centre for Generational Kinetics issued the clarion call during his […]
The Financial Services Commission of Ontario (FSCO) has provided direction for billing practices when a claimant changes health practitioners within the Minor Injury Guideline (MIG).The regulator also provided direction on the integration of extended health care benefits with the MIG.In a bulletin, FSCO explains that the first practitioner often bills for the entire block amount […]
By Canadian Underwriter | October 19, 2011
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