Canadian Underwriter

Topic
Brokers


Teamwork and partnership conceptual image - hands of a businessman and businesswoman joining blank matching puzzle pieces over brown background.
News AnnouncementsBrokers

Quebec merger to create second largest brokerage in province

December 8, 2023 by Alyssa DiSabatino

Two Quebec brokerages will be merging to create the “second largest player” in personal and commercial insurance brokering in the province, the companies announced Thursday.   PMT ROY Assurances et services financiers announced its merger with PMA Assurances. The deal

Digital puzzle pieces; digital M&A concept
News BrokersCommercial LinesEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsMGAsProfessional DevelopmentTechnology

Private equity firm acquires digital brokerage

December 8, 2023 by Jason Contant

Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.

High angle view of female agent standing with prospective buyer in lobby of modern office building and pointing to windows surrounding second floor.
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

How Cat modelling can help your real estate clients

December 8, 2023 by David Gambrill

With so many NatCats affecting the real estate property insurance sector, catastrophe (Cat) modelling is becoming a fixture for clients seeking coverage in a tightening market, a Hub International report states. “Catastrophe (CAT) modeling is…becoming essential in real estate resiliency,”

Moving office sign. Clipart image isolated on blue background.
News BrokersCatastrophesClaimsInsuranceLegislation / Regulation

Floods, wildfires: How an incorrect address cost a broker his job

December 6, 2023 by David Gambrill

Insurance Council of British Columbia has fined a former broker $1,500 for failing to notify his commercial client that the company’s address change — which located the business in a floodplain — triggered a lack of coverage during a subsequent

Chef serving food in the modern kitchen in a high-end restaurant
News BrokersCatastrophesCommercial LinesInsuranceMarkets / Coverages

Why the hospitality hard market won’t end in 2024

December 6, 2023 by Alyssa DiSabatino

Persistent labour shortages, forecasted lower levels of travel, elevated inflation and rising property insurance rates will threaten the hospitality industry’s profitability in 2024, Hub International predicts in its 2024 Outlook series.  Yet, with prolonged periods of government mandated shutdowns, low

Businessman on a call in the office
News BrokersInsuranceTechnology

How underwriters can expedite the submission process for brokers

December 4, 2023 by Alyssa DiSabatino

Underwriters can use generative AI to help speed up their turnaround times with their broker partners, says an insuretech executive.   Underwriters can use insurtech platforms, or generative AI tools like Chat GPT, to input their submissions, along with a

Business for sale sign.
News BrokersInsurance

What a buyers’ market means for brokerage M&A

December 1, 2023 David Gambrill

How can consolidators afford to buy brokerages when interest rates on bank loans to finance deals have steeply increased? Firms that are actively engaged in brokerage buying and selling told CU they have become more selective. “We are getting a

Reversed view of Fork in the Road means coming together
News AnnouncementsBrokersMergers and Aqcuisitions

Merger creates scale for two Ontario brokerages

November 28, 2023 by David Gambrill

Selectpath Insurance, a Navacord brokerage, has partnered with Myers Insurance to enlarge the southwestern Ontario presence of each brokerage. Headquartered in Wallaceburg, Ont., and with an office in Corunna, Myers Insurance is a second-generation multi-lines brokerage run by president Jim

business woman is pointing where to sign on document, with documents in background
News AnnouncementsBrokersInsuranceMergers and AqcuisitionsMGAs

Aviva Canada to acquire “capital light” MGA

November 27, 2023 by David Gambrill

Aviva Canada is acquiring Optiom O2 Holdings Inc., a managing general agent (MGA) that specializes in vehicle replacement insurance in Canada. The $170-million Cdn deal is subject to regulatory approval and is expected to close in the first quarter of

New vehicles at an auto dealership holding lot
News BrokersClaimsInsurance

Can car dealerships manage insurance risks from vehicle thefts?

November 27, 2023 Philip Porado

Car thefts began rising across Canada in 2020 during the COVID-19 pandemic and have been climbing ever since – fuelled by organized crime rings using new technologies to steal key fob codes and take vehicles while their owners are asleep.

Don Thompson Westland
News AppointmentsBrokers

Westland appoints new COO

November 27, 2023 by Alyssa DiSabatino

Don Thompson has been appointed Westland Insurance Group’s new chief operating officer (COO), the brokerage announced.   Thompson will assume the role effective January 1, 2024. He has over 30 years of experience in the P&C insurance industry and is

Red warning flag
News BrokersInsurance

These red flags may waive a brokerage buyer off a deal

November 24, 2023 David Gambrill

Rising interest rates are changing the brokerage M&A environment and giving sellers a shorter timeline to produce the projected earnings. And chances are, if they haven’t produced reliable returns already, the buyers may balk on a purchase, said Yan Charbonneau,