Author Archives: Jeff Toth

  1. Top 10 with YBC President Sean McNamara

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    This year’s Young Brokers Council (YBC) President is Sean McNamara, a Commercial Insurance Broker at Mitchell & Whale and previously Petley-Hare. Working in two notably innovative brokerages, Sean says the secret to staying innovative is to, “Always keep moving forward.” Here’s our Top 10 questions with Sean.

    How long have you been in the industry?

    18 years. And I’ve been a broker since 2004.

    Was your first job in insurance?

    My first full-time job was in insurance, but my very first job was newspaper delivery.

    You had volunteered to be Bippy at Convention — did you like being Bippy?

    Umm — I will do anything for the association. Being Bippy at Convention was better than doing it at the mall in Oshawa.

    Have you done any other kind of performance before?

    I used to be in a marching band, as a percussionist. I played the double bass drum.

    Which is harder to wear: the Bippy costume or the double bass drum?

    The Bippy costume! It is hot as hell in that suit.

    Are you aware of the writer/director named Sean McNamara? He made Soul Surfer, the movie about the girl who got her arm bit off by a shark.

    Yes and he kills me on Google, which makes me mad. I’ve seen Soul Surfer.

    Did you specifically watch it because he shares a name with you?

    Yup. That’s the only reason. I also watched Nip/Tuck, because one of the main characters is named Sean McNamara.

    Did you enjoy Soul Surfer?

    I preferred Nip/Tuck.

    How would your co-workers describe you?

    Fun and relaxed.

    What would you say is your favourite part of the job?

    Afternoon cheers on Friday and dealing with various clients.

    Sean as Bippy at #IBAO17 with IBAO Director of Operations Brett Boadway

  2. IBAO Optimistic Regarding Ontario Fair Auto Insurance Plan

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    (Toronto, Ontario) This morning, the Minister of Finance and the Attorney General of Ontario announced the Fair Auto Insurance Plan, which is aimed at providing structural reform of the auto insurance system across the province. IBAO strongly supports the majority of points highlighted in the government’s plan, but advises a well-considered implementation.

    The government’s seven-point plan follows some of its direction from the David Marshall Report, Fair Benefits Fairly Delivered: A Review of the Auto Insurance System in Ontario, released last April. The plan highlights reforms such as working with the Law Society of Upper Canada to ensure contingency fees are fair and transparent; a FSCO-directed risk factor review; implementing standard treatment plans for common collisions; creating independent examination centres for assessment in serious collisions and resolving diagnosis disputes; and providing FSRA with rule-making authority. The government has not announced specifics of rate reduction at this point in time.

    IBAO has been in regular contact with the Finance Minister’s office leading up to this announcement and participated in the formal auto insurance consultations that were held over the summer months. The IBAO is largely supportive of the recommendations outlined in Mr. Marshall’s report and we are pleased to see that a number of key changes we have been advocating for will be put in place.

    Before the plan moves forward, it is important to remain cautious regarding both the risk factor review and the transition to FSRA, specifically regarding potential changes to auto insurance rates without those changes being overly disruptive. While the IBAO supports the need for a quick and capable modern regulator that can adapt to evolving consumer needs, we are concerned about changing too much too soon without the proper control of outcomes. Any transition should be conducted in a controlled manner to prevent short term swings in the market that could negatively affect consumers.

    “Insurance brokers, who represent over six million policyholders in Ontario, encourage stabilizing auto insurance rates so they can provide affordable coverage that’s balanced with the necessary benefits and consumer protections,” states Colin Simpson, Chief Executive Officer of the IBAO. “We look forward to working with the Government throughout the implementation of these reforms.”

    The IBAO has a long history of advocating for the best interest of the consumer and has been a champion for the limitation of referral fees, previously calling for transparency in all legal costs surrounding auto insurance, including referral fees. Prescribing a consumer-friendly and publicly available fee disclosure report should be required by all legal actors in order to protect the interests of the consumer.

    The IBAO will closely collaborate with the government as their plan takes shape. As brokers with strong ties to our communities, we will continue to advocate for the best interest of our consumers.