Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
It is never a bad idea to consider an increase in limits. In light of the recent changes to the Ontario automobile insurance wording, an increase in limits may be particularly advisable when it comes to the medical, rehabilitation and…
In an earlier blog, I discussed the impending changes to the Ontario automobile insurance product and the opportunity for brokers to demonstrate to their customers the value of a broker’s expert advice. There is another side to that coin. It…
Economical Insurance has now launched its direct digital brand, Sonnet. I was privileged to attend a meeting with the senior executive team at Economical to preview Sonnet’s product offering. Based on what I was shown, this new product offering could…
A new standard automobile insurance policy will come into effect in Ontario on June 1st, 2016. Compared to the current wording, the new wording contains reductions in coverage, particularly with respect to Statutory Accident Benefits. As stated in a bulletin…
If the broker distribution model is to remain dominant in the face of an expanding direct channel, brokers will need to find a way to distinguish themselves from direct writers in something other than price. In my view, the winning…
The insurance marketplace has been in a ‘soft’ phase for several years. The hallmarks of a soft market are an oversupply of insurance capacity and, with it, a downward pressure on pricing. There is no sign this is about to…
Not that buying or selling an insurance brokerage is a game of poker, but I am reminded of the song by Kenny Rogers. ‘You got to know when to hold ‘em, know when to fold ‘em, know when to walk…
According to a report released by Moody’s Investor Service earlier this month, the global market for mergers and acquisitions is at its highest level in many years. The report from Moody’s deals mainly with international insurers and reinsurers, including US…
It is fair to say that the profitability of many Canadian insurers is largely influenced by their Ontario automobile results. With this in mind, the industry may be in for a rough ride. Ontario automobile, so often the Canadian property…
For a broker interested in writing and retaining commercial accounts, there is a lot to be said for conducting a thorough review of a business owner’s operations, making recommendations for appropriate limits and types of coverage, and then ensuring that…
Compared to what happens at a large employer, it can be very challenging for a small company to welcome a new employee on board successfully. Although integrating a new hire into the company’s culture can be difficult, the benefits of…
A few days ago, an Ontario judge ruled that Uber is not operating as a taxi broker and that it has not breached any city bylaws. While this is a victory for Uber, this ruling does nothing to solve the…
In February, Aviva Canada announced its plan to offer an overland flood endorsement to homeowners in Ontario and Alberta. True to its word, the company launched its Overland Water Endorsement early last week. The endorsement is available to Aviva’s policyholders…
A major complaint levelled against the insurance industry is that it has failed to provide coverage for consumers who, through no fault of their own, have seen their homes and belongings destroyed by flood. With the announcement by Co-operators that…
