News
Why embedded insurance keeps this lawyer up at night
1+ week, 4+ day ago (488+ words) The risk of insurance activities performed by unlicensed individuals or entities tops the list When it comes to embedded insurance, the risk of insurance activities being performed by unlicensed individuals or entities is probably the biggest concern, a Dentons lawyer…...
ITV gap widens, as co-insurance clauses catch businesses off-guard
1+ mon, 1+ week ago (835+ words) Tariffs and inflation are widening the insurance-to-value (ITV) gap at a time when many businesses don't know about their co-insurance clauses After recent catastrophes including the 2024 Jasper wildfire, the insurance-to-value conversation has sharpened, particularly for commercial property policyholders facing increased…...
Regulator fines unlicensed insurance agent $25, 000
1+ mon, 1+ week ago (510+ words) The unlicensed agent has also been ordered to stop conducting insurance business in Ontario Ontario's financial services regulator has issued a $25, 000 penalty against an unlicensed agent and ordered him to stop conducting insurance business in the province. The Financial Services…...
Post-Cat claims: Are cashouts worth it?
2+ mon, 3+ day ago (805+ words) Adjuster capacity is an important consideration, panellists say With increasing Cat activity in Canada, carriers and independent adjusters may be looking at more claims cashout models. But they should consider both the positive and negative aspects of this type of…...
B. C. regulators spell out new rules for selling incidental insurance
2+ mon, 3+ week ago (650+ words) At the same time, regulator settles dispute with Mazda over whether "appearance protection contracts" are insurance products Businesses in B. C. selling insurance incidental to their primary business activities must obtain and maintain a new Restricted Insurance Agency (RIA) licence, effective Jan…...
15 minutes to explain a benefit that would save your client 8 cents. Is auto optionality worth it?
2+ mon, 2+ week ago (881+ words) Some estimates put consumer savings at around $100 per year Soon to be a reality in six months, optionality in the Ontario auto insurance product will only end up saving consumers about $100 a year at most, Insurance Brokers Association of Ontario…...
What Canadians would rather do than look at their insurance policies
4+ mon, 3+ week ago (423+ words) Most would rather delete their social media or build furniture than deal with their coverage That's'not an exaggeration. A new survey from TD Insurance'asked Canadians what'they'd'prefer to do instead of reviewing their'home and auto insurance policies for potential savings." More…...
What FSRA's telling healthcare providers to do if auto insurers deny certain claims
7+ mon, 3+ week ago (489+ words) The regulator says complaints about systemic or blanket denials will be thoroughly reviewed Ontario's P&C insurance regulator is reminding carriers of their duty to cover necessary'medical and rehabilitation expenses for auto accident insureds " and that includes their health service…...
Common reasons insureds get their claims denied
10+ mon, 2+ week ago (335+ words) Claims may be denied due to non-disclosure of risks Non-disclosure of key information to insurers is one of the most common reasons insureds see their claims denied." That's why it's up to brokers to double-check these common yet avoidable causes…...
Provincial insurer must pay orthodontic costs
10+ mon, 5+ day ago (751+ words) The claimant's teeth shifted following a traumatic car accident, but his insurer denied the claim Insurance Corporation of British Columbia (ICBC) must pay "without delay" for a claimant's orthodontic treatment following an auto accident, but not for other long-term impairment…...