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Archive for August, 2015

Insurance Brokers Association on UberX.

Wed, 12th August, 2015 - Posted by - Comments Off on Insurance Brokers Association on UberX.


IBAO is working to raise awareness on the risks associated with ride sharing programs for both drivers and passengers. As an advocate for consumers and the conduit between the

insurance company and the policyholder, UberX drivers and UberX passengers in Ontario should understand the reality of their choices when it comes to ride sharing and auto insurance coverage in Ontario. There are a number of myths in the media that suggest that if an UberX driver or an UberX passenger are involved in a collision, their insurance coverage would be recognized. “The

simple fact is that UberX is a new concept that Ontarians are embracing quickly, both as drivers and as passengers. At this time, drivers and passengers should know that there is no

existing endorsement for a personal lines policy that is available today that would guarantee them coverage or protection in the event of a collision during an UberX experience. If the

driver is working under a standard/basic personal auto insurance policy and they have not informed their insurer or broker that they were using their vehicle for commercial

purposes, coverage would likely not be extended.” Said Michael Brattman, President, IBAO. “UberX drivers would be properly covered through the Facility Association under their taxi

commercial auto policy. This is what is available today for drivers.”

Auto insurance coverage is a complex product. When an injury occurs after a collision, it grows more complex. When you layer UberX on top of that (a grey zone between personal

insurance and commercial insurance), the complexity compounds even more. “Our position will always be to advocate for the protection Ontario consumers. We are

encouraging insurers and regulators to find coverage solutions that specifically protect ride sharing opportunists. We would like to work with Uber to understand more

about the coverage they say they provide to their drivers.” Said Michael Brattman, President, IBAO.


Category : Uncategorized

Intact Insurance Co. “The Value of Insurance”

Wed, 5th August, 2015 - Posted by - Comments Off on Intact Insurance Co. “The Value of Insurance”


Over the last several years, Canada has experienced the most severe catastrophic events in its history. Forecasts are that insurance companies will again spend more than a billion dollars in 2013 to help restore Canadians impacted by weather-related events. This will be the fifth consecutive year this has occurred (following those in 2009, 2010, 2011 and 2012).

Without the support of insurance companies, many Canadians would be unable to get back to normal and resume the daily activities of their lives.


Compared to other expenditures, the average Canadian pays less for insurance on a monthly basis than they do for their cellphone and internet bill*.

In 2012, Canadians spent an average of $185 per month on communications services:
Wireless: $67
Internet: $31
Cable and other television services: $52
Wireline telephone: $35

The Canadian average monthly premium to protect your home and its contents is $51/month. The percentage of household income taken up by shelter and accommodation is just over 40% per year. To protect your biggest investment, home insurance represents less than 1% of an average Canadian family’s yearly expenditures.

Value of insurance

We are fortunate to live in a country where we can purchase comprehensive protection for one of our biggest investments at a very reasonable cost. For an annual cost that is less than a latte a day, you are protected for your:

  • Home
  • Contents
  • Loss of use (additional living expenses)
  • Liability insurance for accidents that may happen at your home

You are also protected from severe weather events such as:

  • Hailstorms
  • Fire
  • Wind
  • Lightning
  • Tornadoes

In addition, as an Intact Insurance customer, many homeowner policies include coverage for:

  • Personal Liability – minimum of $1 million
  • Contents for your children when they are away at school
  • Outdoor trees, shrubs, plants and lawns
  • Personal property when it is temporarily away from your premises
  • Moving your personal property to another home
  • Additional living expenses
  • Loss of food stored in a freezer
  • Debris removal
  • Fire department charges
  • Inflation protection
  • Lock repair and replacement
  • By-laws coverage
  • Watercraft
  • Buildings, outbuildings and contents
  • Guaranteed replacement cost
Category : Uncategorized

Don’t be afraid to ask!

When it comes to insurance, there is no question too basic. If there is anything you don’t understand, don’t be afraid to ask us. We are here to help. Contact us today! »


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