Excellent news yesterday ! Auto insurers welcome Ontario’s latest moves to fight fraud, abuse and over-utilization that drive up costs for their law-abiding policyholders. “The government has clearly signaled it will support insurers that stand up to those who would exploit the system,” says Ralph Palumbo, Ontario vice-president of the Insurance Bureau of Canada. “The [...]
It’s been a while since I’ve posted here. I’ve become a father for the first time in the last year. Learning how to manage this part of my life has presented new challenges, and I don’t imagine the challenge of ‘parenting’ will ever disappear. As a result, I have neglected this blog in order to sort out the rest [...]
Here is an example of a staged accident. This is the type of behaviour that increases our automobile premiums in Ontario. Watch out ! Don’t let it happen to you ! Click here to watch a 50 sec. video http://www.nicb.org/theft_and_fraud_awareness/multimedia?media=0cd202ad-91e7-4eae-beb6-5d4db9387a54 Have a good long weekend !
This year’s Atlantic hurricane season will be busier than usual, with a 69 per cent chance at least one major hurricane will make landfall on the U.S. coastline, according to a report released Wednesday April 7th, 2010. Researchers at Colorado State University, who utilized 58 years of data to help predict future hurricanes, estimate there [...]
An investigation by the staff at CBC’s Marketplace has looked closely at the issue of credit scoring by Insurers in Canada. The comments of the IBAO president Randy Carroll were interesting. Insurance companies across Canada are increasingly turning to credit scores to help assess risk and determine the cost of premiums. CBC-TV’s Marketplace spoke with [...]
I’ve recently become the Commercial Marketing Manager at Tanner Insurance Service Ltd. I am up for the new challenges, new experience, and new opportunites to learn.
Here are the 41 reforms to auto insurance announced by the McGuinty Government and Dwight Duncan this morning: MEASURES TO PROTECT CONSUMERS Prohibit objectionable quoting practices including the use of credit scoring, delays in providing quotes, requiring written applications for quotes and certain screening techniques. Expand the definition of “catastrophic impairment” to include single-limb amputees. [...]
Automobile insurance reform in Ontario is long overdue. The Superintendent of the Financial Services Commission of Ontario (FSCO) has an obligation to review automobile insurance every 5 years. In March of this year the report was submitted to the Minister of Finance. There were 39 recommendations made by FSCO to the Minister to improve automobile [...]
Here’s a great Website we disovered recently. It gives a concise explanation, in plain language, why auto insurance premiums in Ontario are increasing. It even provides a link to have you locate your MPP to air your grievance. Let’s bring those automobile premiums down ! http://insuranceicanafford.ca/ The Website is the product of the Insurance Bureau of [...]
The Insurance Brokers Association of Canada (IBAC) is applauding Minister of Finance Jim Flaherty for sending formal letters to the large Canadian banks and the Canadian Bankers Association, making it clear the government intends to adopt policy measures that would require bank Web sites to be subject to the insurance business regime that currently applies [...]
