Genworth MI Canada Inc. Announces Appointment of Rajinder Singh as a Director

The Board of Directors of Genworth MI Canada Inc. (the “Company“) (TSX: MIC) are pleased to announce today that Rajinder Singh has been appointed to the Board of Directors of the Company and its main operating subsidiary.  Mr. Singh has served as the Chief Risk Officer of Global Mortgage Insurance for Genworth Financial, Inc. since 2014 and has previously served in similar roles at CitiMortgage and GE Capital. Mr. Singh also serves as director on the boards of India Mortgage Guarantee Corporation and of Genworth Seguros de Credito a la Vivienda, Mexico.  Mr. Singh has his Master of Business Administration in Finance from the University of Rochester’s Simon Business School, a Master of Science in Mechanical and Aerospace Engineering from Rutgers University, and a Bachelor Technology in Mechanical Engineering from the Indian Institute of Technology Kanpur.

“We’re delighted to have Raj Singh as a new member of the Board. Raj’s expertise and depth of knowledge will be invaluable to our organization,” said Brian Hurley, Chairman of the Board of Genworth MI Canada Inc. “The Board of Directors and I are excited and look forward to working with him,” added Mr. Hurley.

The Board of Directors also announce the resignation of Leon Roday as a Director of the Company and of its main operating subsidiary. The Board of Directors wishes to thank Mr. Roday for his years of dedicated service to the business.

About Genworth MI Canada Inc. 

Genworth MI Canada Inc. (TSX: MIC) through its subsidiary, Genworth Financial Mortgage Insurance Company Canada (“Genworth Canada“), is the largest private residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. Genworth Canada differentiates itself through customer service excellence, innovative processing technology and a robust risk management framework. For more than two decades, Genworth Canada has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at December 31st, 2018, Genworth Canada had $6.9 billion total assets and $4.0 billion total shareholders’ equity. Find out more at www.genworth.ca.

Contact Information:
Investors – Jonathan Pinto, 905-287-5482 or jonathan.pinto@genworth.com 
Media – Susan Carter, 905-287-5520 or susan.carter@genworth.com

SOURCE Genworth MI Canada

Almost two-thirds of Canadians either don’t buy or are unsure if they have trip cancellation insurance before leaving on holiday.

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Gallagher Benefit Services Canada Names Melanie Jeannotte New National President

Arthur J. Gallagher & Co., a global leader in insurance brokerage, risk management, and consulting services, announced Melanie Jeannotte as its new National President of Gallagher Benefit Services (Canada) Group Inc. Prior to her promotion, Jeannotte served as Area President, Western Canada for Gallagher’s Benefits & HR Consulting Practice.

Melanie Jeannotte – National President for Gallagher Benefit Services (Canada) Group Inc.

The Gallagher Benefit Services (GBS) division has experienced transformational growth over the past several years. GBS Canada has grown sizably in reach and service offerings through its holistic benefits focus on organizational wellbeing and by partnering with exceptional, local merger partners coast to coast—from Victoria, British Columbia to Atlantic Canada.

Leslie Lemenager, President of Gallagher’s International Employee Benefits Consulting and Brokerage, shared, “We are proud to be locally grown and globally known. Our business in Canada has reached a size where it is important to evolve our management structure to scale for the future. Given Melanie’s leadership skills and expertise in growing businesses, naming her to this new role of National President for GBS Canada will enable us to continue to expand our client-service capabilities across Canada.”

The company’s comprehensive approach to Benefits & HR Consulting goes well beyond basic health care coverage. Its total wellbeing framework involves a spectrum of innovative solutions encompassing benefits, retirement, employee communications and workplace culture programs. It’s an approach focused on attracting and retaining top talent while driving greater productivity, profitability and organizational growth.

Jeannotte remarked, “I’m excited for this new opportunity and to be a part of GBS Canada’s tremendous growth story. I feel fortunate to work alongside some of the best consulting experts across the country.” She continued, “Together, we have unlimited opportunity to help employers of all sizes manage their benefits and HR programs more strategically to reward and attract the talent they need to grow while benefiting their balance sheets.”

Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois.  The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

Media Contact:
Anna Rozenich – Gallagher Benefit Services Media Relations
630.285.5954 or anna_rozenich@ajg.com

SOURCE Gallagher

Licensing FAQ’s for General Insurance Agents in Ontario

Licensing FAQ’s for General Insurance Agents in Ontario

General Insurance Agents – Ontario

New

I want to become a general insurance agent. What are the qualifications and how do I apply?

In order to obtain a license as a general insurance agent, an applicant must:
1. Have their sponsoring company initiate the online General Insurance Agent application accessible through Licensing Link and pay the required fee;
2. Be familiar with the laws of Ontario relating to the licensing of general insurance agents.
3. Be sponsored by a licensed insurer.
4. Hold himself/herself out publicly and carry on business in good faith as a general insurance agent only in the name in which the agent is licensed.
5. Not be engaged in any other business or occupation that would jeopardize the person’s integrity, independence or competence.
6. Be of good character and reputation.
7. Be a suitable person and meet all the licensing requirements.
8. Possess the appropriate educational background.
9. Provide FSCO with an Ontario mailing address that is suitable to permit service by registered mail.

What is the difference between a General Insurance Agent and a General Insurance Broker in Ontario?

Education

What are the educational requirements to become a general insurance agent?

To become licensed as a general insurance agent, the applicant must successfully pass the qualifying examination for general insurance. Examination results are valid for one year and must be forwarded to Financial Services Commission of Ontario (FSCO) when applying. FSCO does not conduct the examinations. General agents are exempt if they have a Chartered Insurance Professional (CIP) designation or successfully passed the equivalent RIBO exam.

Exam Preparation Course

I am a new agent, how do I apply for a general insurance agent license?

New agents should contact their sponsoring company to initiate an online application on their behalf. New agents are unable to submit an application without a sponsor.

Renewal

How do I renew my General insurance agent license?

Insurance agents’ licenses are renewed every two years. Agents must renew their license within 60 days prior to the expiry date on their existing license.
Applicants who have been unlicensed for two or more years will have to re-qualify as a new agent, including redoing the General Insurance examination.

All renewal applications are submitted online via Licensing Link and are initiated by the sponsoring insurer.

Payment/Fees

How much is the fee to obtain/renew my general insurance agent license?

The fee for an insurance agent license and/or to renew an insurance agent license is $150. This fee covers a two-year license period.

Sponsorship

General insurance agents require sponsorship at all times to maintain their license.

Transfer of Sponsorship

I no longer wish to remain with my sponsor. Can I move to another sponsoring company?

Sponsored agents can transfer out of their sponsorship and move to another sponsor.
The current sponsor should terminate the license online so the new sponsoring company can pick up the license and transfer to their company.
Please contact your current and new sponsor for information as the transfer application is created by the sponsor on behalf of the agent.

How much is the fee to transfer my license to a different sponsoring company?

The fee is $50 to transfer your license from one sponsoring company to another. The fee is paid online through Licensing Link. The application is created by the sponsoring company. Please contact your sponsor on how to submit an application.

Terminations

I am a sponsored general insurance agent and wish to terminate/surrender my license. How do I notify FSCO of this?

Sponsored agents shall have their sponsoring company submit an online termination on their behalf. Please contact your sponsoring company to terminate your license.

I want to terminate/surrender my license, but I do not want to lose the qualifications in case I decide to come back into the industry. Are there any provisions, time frames in which I can reinstate my license without taking the qualifying exam again?

Agents have the option of terminating their license and may have their license within two years of the date of termination/expiry (whichever comes first) without having to re-qualify.
Applicants who have been unlicensed for two or more years will have to re-qualify as a new agent, including re-writing the qualifying exam. Please contact your sponsor to terminate your license.

This information is provided for guidance only. The above information was originally provided on the FSCO website.

About FSCO.

FSCO was established under the Financial Services Commission of Ontario Act, 1997 (FSCO Act) with a legislative mandate set out in the FSCO Act.  FSCO’s legislative mandate is to provide regulatory services that protect the public interest and enhance public confidence in the sectors it regulates. FSCO regulates the insurance sector; pension plans; loan and trust companies; credit unions and caisses populaires; the mortgage brokering sector; co-operative corporations in Ontario; and service providers who invoice auto insurers for statutory accident benefits claims. FSCO is accountable to the Minister of Finance. In order to support FSCO’s legislative mandate, the FSCO Act sets out a three-part structure for FSCO, which includes the Commission; the Superintendent of Financial Services and Staff; and the Financial Services Tribunal (Tribunal).

Uber launches affordable ridesharing in Saskatoon

Today, Uber officially launches its affordable uberX ridesharing service in Saskatoon, offering residents and visitors a safe and easy way to get around the city with a few taps on their mobile device.

Saskatoon marks Uber’s first ridesharing launch in Saskatchewan after the provincial government adopted new regulation for ridesharing services, followed by Saskatoon’s by-law approvals in December 2018.

“We are excited about the launch of new safe and affordable transportation options for the city of Saskatoon, along with flexible economic opportunities for local residents,” said Michael van Hemmen, Business Manager (west), Uber Canada. “We also want to highlight the innovative and collaborative approach taken by the provincial government and municipal authorities to help make this launch possible.”

The city also represents Uber’s first market entry in partnership with a provincial government-run auto insurance program. Working with Saskatchewan Government Insurance (SGI), Uber’s blanket auto-insurance program provides insurance for every ridesharing trip allowing drivers to use their personal vehicles without additional individual insurance requirements.

“The fight against impaired driving is a priority for our government, and ridesharing will provide another option for people to get home safely. We welcome Uber to Saskatchewan,” said the Honourable Joe Hargrave, Minister responsible for Saskatchewan Government Insurance (SGI)

Offering a safe and reliable way home, Uber’s launch in Saskatoon comes in partnership with Mothers Against Drunk Driving (MADD) Canada. As part of the long-term partnership, both organizations work together to support regulatory reform promoting greater access to ridesharing as a service that contributes to road safety and prevents impaired driving.

“Having access to safe, convenient and accessible transportation options is a crucial way to reduce impaired driving and related crashes, deaths and injuries,” said MADD Chief Executive Officer Andrew Murie. “With Uber, you can book a safe and reliable ride home at the push of a button. MADD Canada is very pleased that this important option is now available to the people of Saskatoon.”

With Uber, safety is built into every trip. Riders and drivers alike can quickly access Uber’s key safety information and resources in one dedicated place within the app. Users can review safety tools and controls, find safety tips, contact emergency services or learn more about driver screening processes, insurance protection and community guidelines right from the home screen.

ABOUT UBER CANADA

Co-founded by Calgarian entrepreneur Garrett Camp in 2009, Uber is evolving the way the world moves. Present in communities across Canada, Uber has revolutionized transportation and offers Canadian driver-partners a new way to earn income in their spare time by offering an affordable transportation alternative to riders across the country. For more information, visit uber.com.

SOURCE Uber Canada Inc.

BC Drivers Eager for More Choice in Auto Insurance

Insurance Bureau of Canada 

In light of the recent challenges in British Columbia’s (BC’s) Crown auto insurance system, the province’s drivers have a clear message: They want more choice.

Insurance Bureau of Canada (IBC) recently commissioned Maple Leaf Strategies to survey the attitudes of British Columbians toward their auto insurance and the Insurance Corporation of British Columbia’s (ICBC’s) monopoly. In the survey, 82% of respondents indicated that they want more choice in auto insurance and favour competition over any other solution. Here are some other key findings.

  • The desire for increased choice and competition crosses all political lines: 86% of BC Liberal voters, 80% of BC Green voters and 73% of BC NDP voters voiced support for more choice and competition.
  • 76% support the government’s efforts to limit payouts for minor injuries.
  • There is little support for eliminating the ability to sue for pain and suffering (to move to a no-fault auto insurance system). Only 10% of respondents strongly supported this solution.

According to data from ICBC and the General Insurance Statistical Agency (a statistical agency created and overseen by provincial insurance regulators), BC drivers pay the highest auto insurance prices in Canada, with annual premiums averaging $1,680. Current reforms are not expected to reduce prices; in fact, ICBC has announced a 6.3% rate increase effective April 1, 2019.

“It’s clear that British Columbians want change, and they want choice in auto insurance,” said Aaron Sutherland, Vice-President, Pacific, IBC. “Opening BC’s auto insurance marketplace to competition would save drivers up to $325annually. Competition provides a powerful incentive for any company to deliver the best service at the best price.”

Maple Leaf Strategies surveyed 800 British Columbians across the province from January 16 to 20, 2019. The survey is considered accurate within +/- 3.5%. For the full survey results, click here.

This survey was done exclusively for IBC and theorca.ca.

About Insurance Bureau of Canada

Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.

P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 126,000 Canadians, pays $9 billion in taxes and has a total premium base of $54.7 billion.

For media releases and more information, visit IBC’s Media Centre at www.ibc.ca. Follow us on Twitter @IBC_West or like us on Facebook. If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC.

If you require more information, IBC spokespeople are available to discuss the details in this media release.

SOURCE Insurance Bureau of Canada

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