Canadian Underwriter

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Business owner in a paperwork avalanche
News BrokersEmploymentInsuranceLegal

What selling a brokerage and ‘The Bachelor’ have in common

November 17, 2022 Philip Porado

Dating takes time, and hours of preparation – even The Bachelor takes a full season for the prospective bride-to-be to sort  through all the contestants. And the process of selling your brokerage is no different, according to a brokerage M&A

A businessman holds a white, 2 dimensional umbrella over a scale. A bag of money and wooden blocks spelling "risk" sit on either side of the scale
News BrokersInsuranceMarkets / CoveragesProducts

How clients can get better rates during the hard market

November 16, 2022 by Alyssa DiSabatino

Insurers’ low-risk policyholders may still experience premium increases amid the hard market, but clients can take mitigating steps, said Ilan Serman, regional president of Ontario at Gallagher during yesterday’s Gallagher Talks session, Anatomy of the Canadian Insurance Market. “[I had]

Businessperson holding a pen on an interactive bar graph, showing upwardly trending results year over year
News AnnouncementsBrokersCatastrophesClaimsInsuranceMarkets / Coverages

Why the hard market may be here to stay

November 15, 2022 by Alyssa DiSabatino

Despite 17 quarters of rate increases, insurers return on equity (ROE) is still below target, and these hard market conditions may not be going anywhere for awhile, a Gallagher executive said during an industry webinar.  Broker’s clients may be able

System hacked sign on computer screen
News BrokersCommercial LinesInsuranceMarkets / CoveragesRisk

5 client objections to buying cyber, and how to overcome them

November 14, 2022 Philip Porado

When it comes to risk, your clients can be full of excuses. That tendency to deflect is particularly acute when discussions turn to cyber coverage. “My favorite one was ‘We outsource everything,’” which implies someone else was taking on all

Woman using a mobile phone while charging an electric car
News Climate ChangeInsuranceTechnology

Delays for new hybrid, electric cars reach years – not months – amid supply crunch

November 14, 2022 Brett Bundale - THE CANADIAN PRESS

When Jesse Chiasson called a car dealership last month to buy a new vehicle, he ended up paying $1,000 to be put on a waitlist instead. “The salesman was pretty vague but hinted it could be 2024 by the time

A property affected by November 2021 flooding as seen on the Shackan Indian Band.
News AdjustersAnnouncementsClaimsClaims CanadaClimate ChangeEngineeringInsuranceProductsRestoration

New claims-management service launches certificate program for insurers

November 11, 2022 by Alyssa DiSabatino

A new claims management program, which enables insurance companies to divert waste from landfills by recycling flooring and drywall during the claims and restoration process, has officially launched its certification program.   The EcoClaim certificate program will enable insurers to

Sandbag beach reinforcements, which had previously been covered with sand, lie exposed following the passage of Hurricane Nicole, Thursday, Nov. 10, 2022, in Vero Beach, Fla. (AP Photo/Rebecca Blackwell)
News AnnouncementsCatastrophesClaimsClimate ChangeInsuranceRisk

Nicole to be typical fall storm, but officials warn of outages where Fiona hit hard

November 11, 2022 The Canadian Press

HALIFAX – Environment Canada says the Category 1 hurricane that hit Florida early this morning will feel like a typical fall storm when the weather system makes its way to the East Coast this weekend. But officials are warning to

Making a vacation reservation on a laptop
News BrokersClaimsCommercial LinesInsurance

Are your clients’ short-term rental properties properly insured?

November 9, 2022 George Longo

With COVID-19 safety protocols all but eliminated in Canada, many people are travelling and need places to stay. As an alternative to hotels, some are taking short-term rental spaces through services like Airbnb, VRBO and other online platforms. Now that

A man holding a pen sits in front of a clipboard with an insurance policy and three toy cars lined up atop it.
News AnnouncementsBrokersInsuranceLegislation / Regulation

Insurer ordered to plan for switch to primary driver model

November 9, 2022 by Alyssa DiSabatino

Manitoba Public Insurance (MPI) must now develop a five-year plan to switch from its registered driver model to a primary driver model for auto insurance pricing — after previously stating such a switch would create large rate dislocation and require

Silhouetted shot of two businesspeople shaking hands in an office
News AnnouncementsBrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

Aspiring brokerage owners share the biggest obstacles for ownership

November 8, 2022 by Alyssa DiSabatino

What’s the biggest barrier to brokerage ownership for the 30% of brokers who aspire to one-day buy their own firm? Financing, according to results from a Canadian Underwriter online survey.  Of the 30% of broker respondents who want to own, exactly

Car bodies on an assembly line factory
News InsuranceTechnology

Auto parts producers see supply chains improving but shutdowns still weigh

November 8, 2022 Ian Bickis - THE CANADIAN PRESS

Canadian auto parts makers say the supply picture is improving and helping boost their bottom line, but disruptions continue to weigh on operations and profits. Magna International Inc. said Friday the picture has improved significantly from last year as global

News AnnouncementsBrokersClaimsCommercial LinesInsuranceMarkets / CoveragesMergers and AqcuisitionsPodcast

CU launches new P&C industry podcast

November 8, 2022 David Gambrill

Canadian Underwriter is pleased to announce today’s launch of its new podcast series, What’s on Dec? in partnership with industry veterans Pete Tessier and Curt Wyatt. Tessier and Wyatt will be well-known to those who listen to The Insurance Podcast,