Tech
Some brokerage staff members could be spending hours each day just searching for information in their carriers’ underwriting manuals – time that could be put to better use, the head of a technology vendor suggests. Some of the longest underwriting manuals are 1,500 pages in length, while most have well over 100 pages, said Joseph […]
By Greg Meckbach | October 5, 2020
2 min read
Operations
Based on recent consumer research and brokers surveys, Canadian Underwriter has identified three crucial topics of conversation to help brokers forge stronger bonds with their clients
By David Gambrill, Editor in Chief | October 5, 2020
6 min read
HR
How can the Canadian P&C industry ensure its workplaces reflect the communities they serve? We asked senior industry executives what can be done to make sure everyone feels respected and valued, regardless of demographic factors such as gender, skin colour, sexual orientation or gender identity. Here’s what they told us....
By Greg Meckbach, Associate Editor | October 4, 2020
7 min read
Westland Insurance Group and BrokerTeam Group have both announced separate deals this past week. Westland Insurance Group Ltd. acquired two Alberta brokerages, effective Oct. 1. Surrey, B.C.-based Westland announced Friday it closed the acquisition of Carstairs, Alta.-based Ironside Insurance Brokers and Picture Butte, Alta.-based G&E Insurance. This adds 19 employees to Westland, which now has […]
By Greg Meckbach | October 2, 2020
1 min read
Legal / Regulation
Programming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to pay a combined total of $725,000 in administrative penalties last year for over-charging, Alberta’s superintendent […]
Specialization continues to be a major growth strategy for brokers, as our third annual National Broker Survey shows. But has the pandemic exposed the limits to specialization…?
By David Gambrill, Editor in Chief | October 1, 2020
9 min read
A B.C. broker received a $1,000 fine and was ordered to complete a course in auto insurance for her role in trying to help a man purchase a car for his son-in-law. The provincial broker regulator found that the broker, Lini Outh, had fraudulently transferred the ownership and insurance to the son-in-law without his knowledge […]
By David Gambrill | September 29, 2020
3 min read
If you want to be better than the average brokerage, try explaining coverages through the use of examples and try not making consumers wait for days for answers, the co-founder of an insurtech advises. “Insurance can be somewhat stuffy and not a real pleasant experience,” said Pierce Krol, co-founder of Grande Prairie, Alta.-based Insurely Inc. […]
By Greg Meckbach | September 28, 2020
Concerns over the risk of COVID-19 transmission could accelerate the changes that technology has been bringing to financial transactions, including contactless payment options, a commercial broker suggests. “Financial services are changing very quickly,” said Mark Morency, senior vice president and financial institutions practice leader for Gallagher Canada. “They were before the pandemic, and interestingly enough, […]
By Greg Meckbach | September 21, 2020
Personal auto insurance brokers who don’t offer an endorsement that would limit an insurer’s right to restrict its coverage to actual cash value could be increasing their errors and omissions risk, a senior broker has cautioned. Alberta and Ontario have optional endorsements to auto policies that insure vehicles up to the actual purchase price instead […]
4 min read
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
