One integral disparity in the industry today is the use—or misuse—of credit scoring.According to Rodney Hancock, CEO of McFarlan Rowlands and chair of the Independent Broker’s Association of Ontario (IBAO), insurers currently using credit scoring, outside of setting home policies, are in direct violation of the rulings of regulators. Hancock made his remarks during a panel discussion on... 

Shortly after his appointment Don Forgeron set the tone for the next year at the Insurance Bureau of Canada’s annual general meeting, held on April 28, 2009. Forgeron, who was recently appointed president and CEO of IBC, used the opportunity to reinforce the association’s position on auto insurance, national and provincial regulation, the resiliency of Canada’s P&C industry, and IBC’s... 

It’s a drip of a tap. A rush of a sewer. Or a torrential downpour that accompanies a storm. Regardless of the method, water damage is the fastest rising cause for claims and the focus of revision and review for many policyholders, brokers and insurers. Roughly three years ago the insurance industry, as a whole, assumed it was just going through a bad year when water claims began to increase.... 

Part XIII is insufficient in protecting policyholders from unlicensed and unscrupulous foreign reinsurers and insurers and, as a result, B.C. will require P&C operators to obtain provincial licensing, over and above federal approval.This was the message Alan Clark, superintendent of Financial Institutions for B.C., gave to P&C delegates during a market misconduct panel discussion at the...