Brokers Blog

Product changes: Removing the payment plan $12 fee, various other housekeeping changes To our Valued Broker Partners: From today, the $12 payment plan fee will no longer be charged on all new business contracts. Accordingly, the interest rate is now 5.90% and the APR is 12.70%. This re-juggle of fee vs. interest rate is an enhancement; it simplifies the product…

To our Valued Broker Partners: Effective immediately, binding authority will be temporarily suspended for any new business or additions to or increasing coverage on existing policies located within 50 kilometres of an area under a flood warning alert. This restriction will remain in place until such time as the alert has been lifted for the area in question. During this…

To our Valued Broker Partners: From today, installment date is no longer given as same day of the month as policy effective date. Your client can now elect the installment date they wish. Here is the Payment details screen that shows the new function; when querying different installment date options, use the “Refresh Details” button to recalculate the amounts. In…

To our Valued Broker Partners: We have implemented online renewal payment; you and your customer can now make their renewal payment directly throughwww.stratfordunderwriting.ca. The feature is accessible directly from the bottom of the home page here: Do check it out, it is a very straightforward web flow; you or customer enters a few attributes, pays by credit card and receives…

BC Wildfire Binding Authority Effective immediately, binding authority is suspended for any new business or adding to or increasing coverage on existing policies located within an area currently under an Evacuation Alert or an Evacuation Order. This restriction will remain in place until the alert or order has been lifted for the area in question. During this time, we will…

Underwriting Guideline Change: Eligibility changes, authority changes and more To our Valued Broker Partners: We have made the following UW Guideline changes: Binding Authority Increased from $100,000 to $150,000. For make/model/year combinations given in the Sales Portal’s vehicle pick list only those that exceed the authority are automatically referred to Underwriting. Sound equipment Increased permanently attached sound equipment base coverage…

Enhanced Care: Rate Reductions and wordings change effective March 11, 2021 To our Valued Broker Partners: As part of our preparations for ICBC’s no-fault product change on May 1, 2021 we’ve reduced our rates. Further to the rate reductions we implemented February 1, effective March 11, 2021 for new business and effective June 11, 2021 for renewals your customers and…

Monthly payment plan: $350 minimum, reduced fees and new training guide To our Valued Broker Partners: Effective immediately: Stratford accepts $350 minimum premium on Monthly Payment Plan. The $35 fee for installment date changes is waived when within 60 days of policy issuance. The $100 mid term cancellation fee is waived in its entirety. There is no mid-term down payment…

To our Valued Broker Partners: As part of our preparations for ICBC’s no-fault product change on May 1, 2021 we’ve reduced our rates. Effective February 1, 2021 for new business and effective May 1, 2021 for renewals your customers and applicants will see a substantial decrease to their Stratford Third Party Liability (TPL) premiums. Unrelated to the no-fault product change,…

To our Valued Broker Partners: For policies in force from November 15, 2020, we have made some changes to both the Policy Wording and our Underwriting Guidelines. As well as a fresh new look to each document, the highlights and housekeeping are as follows. Coverage Changes Increased the Emergency Roadside Protection from $60 limit 2 times per policy term to…