General Insurance Info

FSRA and Insurance Regulation in Ontario

May 21, 2020

On June 8, 2019, the Financial Services Regulatory Authority of Ontario (FSRAO) replaced the Financial Services Commission of Ontario (FSCO) as the regulatory body for insurance in the province.

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Can Missing a Monthly Payment Affect My Insurance Rates?

February 24, 2020

Missed payments are not in and of themselves a rating factor for insurance, but if you fall behind by more than a month, that could lead to you being cancelled, and that will definitely affect your future insurance rates.

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Missed Payments During COVID-19

March 25, 2020

The COVID-19 pandemic is wreaking havoc all over the world, leading not only to severe health challenges and social isolation, but also financial and logistical problems related to closed offices and a badly struggling economy. During this time, it’s still best to keep all your insurance up-to-date, but Read more

5 Things You Shouldn’t Lie to Your Insurance Broker About

March 3, 2020

Remember when your mom taught you to always tell the truth? Well she probably wasn’t thinking about insurance at the time, but she did know that when you lie, people eventually stop trusting you. And when they stop trusting you, they just don’t want to deal with you anymore, because they can’t be sure about anything that you say or do.

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Save Money by Paying Insurance Premiums

May 26, 2014

Although budgets can get really tight some months, be aware that you really can save money by paying insurance premiums on time. Like most businesses, insurance companies do not consider non-payments lightly. In an industry in which premiums are calculated according to various risk characteristics (age, experience, claims, geography), insurance history plays a big role too in determining whether you qualify for insurance with a certain company. So you better believe that a policy cancellation due to non-payment shows up on your insurance history records. Read more

Acts of God – Does My Property Insurance Cover These Perils?

June 20, 2014

Act of God Defined

The expression Act of God is often used to describe when a natural event occurs in which damage is caused. When you hear about “Acts of God” you generally tend to think of events that cannot be prevented such as forest fires, earthquakes, tornadoes, landslides, and so forth.

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Why is My Policy Premium Different Than My Quote?

May 8, 2019

Has this ever happened to you? You call an insurance broker, give them all your information, and get back a super quote that meets all your needs at a price that might be significantly cheaper than what you are currently paying. Read more

What is RIBO?

March 20, 2014

RIBO stands for the Registered Insurance Brokers of Ontario, which is the self-regulatory body for insurance brokers in Ontario. RIBO was established by the Ontario government in 1981 to protect the public during insurance transactions with brokers. RIBO regulates the licensing, professional competence, ethical conduct, and insurance related financial obligations of all independent general insurance brokers in the province.

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Why a Larger Insurer is Sometimes Better…and Sometimes Not

December 5, 2019

In Canada, we love small business, and with good reason. Who doesn’t want to know their local grocer or mechanic, or have their kids go to school with their insurance broker’s kids? As Canadians, we have a natural preference for small family businesses. They are our neighbours. We trust them.

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Why Do My Insurance Payments Not Come Out Right Away?

October 21, 2019

In our world of online buying and selling, we’ve grown accustomed to buying something and seeing the money come out of our account right that very second – or at least the next business day. When you switch from one insurance company to another, it can be a big cause for concern when weeks or even months pass, and no money comes out of your account.

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