Operations

Broker training underway for new distance-based auto insurance Broker training underway for new distance-based auto insurance Image

Operations

Broker training underway for new distance-based auto insurance

Brokers selling auto insurance written by the CAA Insurance are now getting trained on a new product targeting low-mileage drivers. All 41 of CAA Insurance’s broker partners “are being trained on all aspects” of MyPace, CAA Insurance president Matthew Turack said Wednesday. MyPace, scheduled to roll out this July, targets vehicles driven fewer than 9,000 […]

By Greg Meckbach | May 23, 2018

2 min read

Do sophisticated water models select against smaller insurers? Do sophisticated water models select against smaller insurers? Image

Operations

Do sophisticated water models select against smaller insurers?

The sophistication of technology for rating overland flood could conceivably lead to smaller insurers ending up with a disproportionate share of flood risks on their books in the event of a cat, which could spell trouble for consumers. Insurance Brokers Association of Ontario (IBAO) chairwoman Traci Boland cited the looming issue in remarks made to […]

By Jason Contant | May 22, 2018

2 min read

Brokers, mutuals split on tactics after ministry’s controversial phone call Brokers, mutuals split on tactics after ministry’s controversial phone call Image

Legal / Regulation

Brokers, mutuals split on tactics after ministry’s controversial phone call

The Canadian Association of Mutual Insurance Companies (CAMIC) and the Insurance Brokers Association of Canada (IBAC) are split on tactics regarding a federal government bill that would allow banks to share customer data with fintechs. Which path better protects consumers is a subject of hot debate. The tactical divergence became obvious after a representative of […]

By David Gambrill | May 22, 2018

3 min read

How Saskatchewan brokers are handling the French fries challenge How Saskatchewan brokers are handling the French fries challenge Image

Operations

How Saskatchewan brokers are handling the French fries challenge

Roughly half the motorists in Saskatchewan lack adequate auto insurance because they are only buying the mandatory minimum required by law from the province’s government-run auto insurer, a broker warns. Saskatchewan’s 70-year-old-plus Auto Fund writes basic minimum liability, damage to or loss of an insured’s vehicle and also covers first-party medical costs and income replacement […]

By Greg Meckbach | May 17, 2018

2 min read