Insurance Brokers Association of Ontario

ibao.org

A membership-based organization serving over 12,000 independent insurance brokers across Ontario. We represent our members to government, regulatory bodies and the insurance industry, advocating on behalf of the consumer. We ensure the needs of brokers are taken into account when government or industry seek to introduce policy shifts that affect brokers across the country. We act as consultant on insurance everything, collaborating to define regulation, education and best practice. Inspired by our membership in everything we do, we're unique but we're the same and we're stronger together.

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CHUBB ALLEGEDLY HIT BY INFAMOUS CYBERATTACK

Chubb | March 27, 2020

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The hackers responsible for the Maze ransomware have claimed that they have hit major insurance company Chubb. The cyberattackers posted news of the attack on their website, claiming that they managed to encrypt devices on Chubb’s network this month. Bleeping Computer reported that as part of their modus operandi, the Maze hackers steal files from their victims before locking the devices with ransomware-based encryption. The stolen files are then used as leverage by the Maze hackers, who t...

Read More

Insurance Technology

PARACHUTE DIGITAL SOLUTIONS LAUNCHES NEW ONLINE INSURANCE PLATFORM

Parachute Digital Solutions | November 23, 2020

news image

Parachute Digital Solutions Inc., a Munich Re company, reports the dispatch of Parachute 2.0, a turnkey product and carrier agnostic online insurance platform for carriers, brokers, employers, associations, and retailers to offer life and supplemental health protection plans in a simple to-utilize, secure and smoothed out digital environment. “Parachute 2.0 reinforces our core philosophy and commitment to making insurance simpler for all involved, whether that’s carrie...

Read More

WILLIS TOWERS WATSON LAUNCHES NEW COVID-19 TRACKING FEATURE

Willis Towers Watson | March 26, 2020

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Willis Towers Watson has introduced a new risk-and-analytics feature that enables risk managers to assess their coronavirus (COVID-19) property exposure in real-time, providing them with real-time developments of the pandemic set against their property assets around the world. The new feature provides up-to-date information for confirmed global COVID-19 cases alongside clients’ property total insured values by location, as part of WTW’s Global Peril Diagnostic modelling tool that eva...

Read More

LIBERTY MUTUAL TO REFUND $250 MILLION TO AUTO INSURANCE CUSTOMERS

Liberty Mutual | April 08, 2020

news image

Liberty Mutual has recognized the financial burden caused by the COVID-19 pandemic, and has responded by announcing a “Personal Auto Customer Relief Refund” program that will give auto insurance customers a 15% refund on two months of their annual premium. A release said that this refund program returns about $250 million to both Liberty Mutual and Safeco personal auto insurance customers. Pending regulatory approval, personal auto insurance customers will receive the 15% refund on t...

Read More
news image

CHUBB ALLEGEDLY HIT BY INFAMOUS CYBERATTACK

Chubb | March 27, 2020

The hackers responsible for the Maze ransomware have claimed that they have hit major insurance company Chubb. The cyberattackers posted news of the attack on their website, claiming that they managed to encrypt devices on Chubb’s network this month. Bleeping Computer reported that as part of their modus operandi, the Maze hackers steal files from their victims before locking the devices with ransomware-based encryption. The stolen files are then used as leverage by the Maze hackers, who t...

Read More
news image

Insurance Technology

PARACHUTE DIGITAL SOLUTIONS LAUNCHES NEW ONLINE INSURANCE PLATFORM

Parachute Digital Solutions | November 23, 2020

Parachute Digital Solutions Inc., a Munich Re company, reports the dispatch of Parachute 2.0, a turnkey product and carrier agnostic online insurance platform for carriers, brokers, employers, associations, and retailers to offer life and supplemental health protection plans in a simple to-utilize, secure and smoothed out digital environment. “Parachute 2.0 reinforces our core philosophy and commitment to making insurance simpler for all involved, whether that’s carrie...

Read More
news image

WILLIS TOWERS WATSON LAUNCHES NEW COVID-19 TRACKING FEATURE

Willis Towers Watson | March 26, 2020

Willis Towers Watson has introduced a new risk-and-analytics feature that enables risk managers to assess their coronavirus (COVID-19) property exposure in real-time, providing them with real-time developments of the pandemic set against their property assets around the world. The new feature provides up-to-date information for confirmed global COVID-19 cases alongside clients’ property total insured values by location, as part of WTW’s Global Peril Diagnostic modelling tool that eva...

Read More
news image

LIBERTY MUTUAL TO REFUND $250 MILLION TO AUTO INSURANCE CUSTOMERS

Liberty Mutual | April 08, 2020

Liberty Mutual has recognized the financial burden caused by the COVID-19 pandemic, and has responded by announcing a “Personal Auto Customer Relief Refund” program that will give auto insurance customers a 15% refund on two months of their annual premium. A release said that this refund program returns about $250 million to both Liberty Mutual and Safeco personal auto insurance customers. Pending regulatory approval, personal auto insurance customers will receive the 15% refund on t...

Read More