Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Insurance needs Real-Time now to benefit from lower costs and immediate confirmation between all stake-holders in the insurance distribution vertical. However, Real-Time transactions are too rare in insurance. The most obvious example is D2C insurers who have stepped up their…
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Passenger vehicles are producing unprecedented amounts of data as more and more ‘connected cars’ hit the road. Whoever controls that data could be destined to control the future of auto insurance as well. Canadian insurers have been looking to profit…
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If you’re a broker looking to insure an apartment building or condominium complex in Canada, you should be aware of the challenges — and how to navigate them. In today’s hard market, most insurance companies are reluctant to take on…
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To the lay person, it only stands to reason that a business interruption policy would respond to what for many enterprises isn’t merely an interruption in their business, it is quite possibly a death knell. This is certainly the sentiment…
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Political pressure to keep automobile premiums low is a problem that has bedevilled Ontario insurers for some time now. The problem certainly isn’t new and it isn’t going away. It also crosses party lines. Four years ago, the Liberal government…
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In a recent online article, Canadian Underwriter magazine asked the question, Is the sun setting on auto insurance in Canada? In my view, it may be late afternoon for the automobile insurance market, but I think it will be a…
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What happens when an auto insurer sends a policy termination notice to the named insured, but the named insured does not own the vehicle insured under the policy? In Ontario (Minister of Finance) v. Traders General Insurance Co. (c.o.b. Aviva Traders),…
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Canadian Brokers understand that Contingent Profit Commissions (CPC) are a device that insurance companies use to reward good front-line underwriting, volume of premium business placed and some good claims luck. In simple terms, the better your loss experience and the…
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What happens when a Certificate of Automobile Insurance specifies that the policy includes coverages under certain endorsements, when those endorsements never make it onto the policy? The Certificate and OPCF Endorsements Ontario’s standard automobile policy (OAP1) offers a number of…
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Does Uber’s fleet policy with Intact provide primary accident benefits coverage to passengers who do not have their own auto insurance policies? The first arbitration decision on this issue says “yes”. Background In July 2016, FSCO approved a new standard…
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The Ontario Divisional Court has ruled that Ontario laws cannot be used to determine whether a specific vehicle needs to be insured, when an incident happens outside Ontario. Why is this Important? Automobile insurance is meant to insure automobiles and…
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The market for property and casualty (P&C) brokerages continues to be intense. Books of business are attracting prices from 3.5x to 5.0x commissions – and even more for online business. So, are conditions right to start seeing more management buy-outs?…
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A provincial election in Ontario is expected to take place within the next six months. In the lead up to that election, it is a safe bet that all three parties will make a number of promises as to how…
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Not everyone has embraced telematics. It was reported the other day that at least one insurer has been told by its brokerage force that their customers are ‘not fans of telematics’. Carol Jardine, chief strategy office for Wawanesa, is quoted…
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