Industry
After making headway in cleaning up the muddied broker image and restoring consumer confidence in insurance business practices, Ontario's independent brokers have hit another roadblock - the Bank Act review. Bankers are lobbying the federal government to change the Bank Act so that local bank branches can sell insurance products. Incoming IBAO president Beth Pearson says that with the support of the IBAO, Ontario's brigade of brokers is ready to battle the banks with an arsenal of strong lobbying and enhanced communication that reiterates the value inherently offered by brokers.
September 30, 2005
7 min read
Ontario insurers agree with the government that assessment centers are a terminal case
By Craig Harris | September 30, 2005
9 min read
Risk
Canadian brokers hope to extinguish the current conflagration around contingent profits. The question is, will Canada's insurance regulators agree to cool down their recent interest in disclosure and transparency issues?
By David Gambrill | September 30, 2005
10 min read
Allstate Insurance Company of Canada has created an alliance with Pethealth and its PetCare Insurance Programs to bring economic accident and illness care to the estimated 55% of Canadian households who own dogs and cats. “We are receiving more questions from consumers concerned about the costs of treatment for unexpected illness and accident suffered by […]
2 min read
Ironically, the same brokers educating consumers about dramatic price increases in the most recent hard market were hit with their own rate hikes on professional liability insurance. While premiums are beginning to stabilize for broker errors and omission (E&O) coverage, there are still some troubling signs in claims severity for this class of business.
8 min read
The Canadian P&C industry is holding $22.8 billion in capital in 2004. Capital is expected to continue building through the remainder of 2005 despite recent setbacks as a result of Suncor, Katrina and Canadian storm activity
By Joel Baker, President, MSA Research Inc. | September 30, 2005
4 min read
Commercial management systems (CMS) have evolved from their early days as document-generation tools to help brokers standardize processes, increase productivity and protect against professional liability claims. Can they go the next step and bridge the gap between broker workflow and insurer policy processing requirements in small- to mid-market business accounts?
By Kevin Campbell, President, PolicyWorks | September 30, 2005
5 min read
When the courts order a liquidator to collect and protect the assets of a bankrupt insurance company, PACICC is there to protect the interests of the policyholders.
By Reg Riddles, Paul Kovacs and Jim Harries. | September 30, 2005
6 min read
Traffic collisions on Alberta roads have decreased by less than 1% in 2004 and driver error remains the most common contributing factor, according to the newly released Alberta Collision Statistics 2004. In response to the latest statistics, Oberg said he continues to support the development of the Traffic Safety Plan. “I am reviewing the proposed […]
1 min read
Working collaboratively through the National Association of Insurance Commissioners (NAIC), over 30 state insurance regulators recently adopted a multi-state regulatory settlement with Marsh & McLennan Cos. Inc. The settlement agreement will ensure that Marsh implements the compensation and disclosure reforms – including the Company’s requirement to pay its clients $850 million in restitution – it […]
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