Validating Our Tools

Economic disparities and unreliable quotes sparked debates across the country on insurance-to-value and the technology behind the tool. A solution to inaccurate data may be at hand, which is good news for brokers. There is no denying that insurance to value (ITV) is a widespread problem in Canada. Still. Even as the media focuses on[…]

Improved market conditions: MSA/Baron Report

The last year of industry result deterioration is finally starting to level off, according to the latest MSA/Baron Outlook Report, but Joel Baker, president and CEO of MSA Research warns that “keen focus has to be kept on underwriting activities.”Based on six-month 2009 data, the break-even undiscounted combined ratio was just slightly under 100%. (These[…]

HST tax will prompt premium increase

Financial services—including the P&C industry—are the losers in the push for tax harmonization within Canada. This was the message Danny Cisterna, partner at Deloitte & Touche LLP, left the delegates at the Insurance Bureau of Canada’s Financial Affairs Symposium in Toronto on April 23, 2009. Cisterna was referring to the implementation of the Ontario tax[…]

Regulators require fine-setting abilities, says legal expert

Regulators need more tools. This was the message legal insurance specialist, Vivien Bercovici, partner at Heenan Blaikie, told a room full of P&C delegates during a panel discussion on “market (mis)conduct” at the National Insurance Conference of Canada, that ended Friday Oct. 2, 2009. According to Bercovici, only a handful of regulators across Canada have[…]