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News BrokersInsuranceMergers and Aqcuisitions

Intact sets 50% growth target for BrokerLink

November 10, 2020 by Greg Meckbach

Intact Financial Corp. is aiming to grow its brokerage subsidiary to a $3-billion-a-year operation, CEO Charles Brindamour told investment banking analysts recently. “BrokerLink recently surpassed $2 billion in premiums as it continues to grow organically and through acquisitions,” Brindamour said

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

Why the impact of an Intact-RSA combo would vary by province

November 6, 2020 by Greg Meckbach

Things could get interesting for brokers in Atlantic Canada if Intact takes over RSA’s Canadian operations, a Saskatchewan broker told Canadian Underwriter Friday. That being said, he felt if the proposed deal announced Thursday goes through, it would still leave

News AssociationsBrokersClaimsClaims CanadaCommercial LinesRisk

How IBC plans to help restaurants find insurance

October 29, 2020 by Greg Meckbach

Clients in the hospitality sector who cannot find affordable coverage can now go directly to the Insurance Bureau of Canada for help. IBC has hired a risk manager to help commercial clients improve their risk profile, said Jordan Brennan, IBC’s

News AdjustersBrokersClaimsCommercial LinesInsuranceLegislation / RegulationRisk

This decision on a $5,000 deductible could motivate condo corporations to change their bylaws

October 28, 2020 by David Gambrill

A recent decision by B.C.’s Civil Resolution Tribunal (CRT) may motivate strata (condo) corporations to adjust their bylaws so that they can charge insurance policy deductibles back to their strata unit owners. Based on the outcome of the CRT decision,

News BrokersInsuranceProfessional DevelopmentTechnology

How ‘extra steps’ can make for a bad customer experience

October 27, 2020 by Greg Meckbach

Brokers who are concerned about carriers having “too direct” of a relationship with the broker’s customers should consider what service those customers are expecting, an industry consultant suggests. “As an industry, we have a number of places where we have

News BrokersTechnology

What carriers are telling brokers who don’t invest in technology

October 26, 2020 by Greg Meckbach

With a week to go before Hallowe’en, Ontario brokers heard some spooky stories last week about what happens if a brokerage does not invest in keeping up to date with technology. “Technology is going to be a much more permanent

News AssociationsBrokersLegislation / RegulationMarkets / Coverages

Intact’s take on regulating commercial ‘middle players’

October 26, 2020 by Greg Meckbach

Government and the industry should take a close look at the structure and regulation of “middle players” in the commercial property and casualty insurance market, Ontario brokers heard last week at their annual convention. “We know there are some things

News AdjustersBrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRisk

Industry execs to discuss how to navigate the condo insurance market

October 23, 2020 by David Gambrill

Selling and underwriting condo insurance these days is a tough gig, but the property and casualty insurance industry is no stranger to tough market cycles. Mainstream media are filled with stories about condo corporations seeing their premiums and deductibles increase,

News AssociationsBrokersMergers and Aqcuisitions

The downside of selling for 4 times multiple during COVID

October 23, 2020 by Greg Meckbach

Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15

News AssociationsBrokersClaimsClaims Canada

Why reinsurers are now ‘hesitant’ to support some Canadian insurers

October 22, 2020 by Greg Meckbach

One lesson from the economic disruption from COVID-19 is the importance of telling clients exactly what risks are and are not covered, an Insurance Brokers Association of Ontario panelist suggested Thursday. “Business interruption class action litigation does not attract capital

News BrokersMGAs

How Lloyd’s says the industry can make commercial policies easier to read

October 21, 2020 by Greg Meckbach

Traditional insurance policies can be hard to read on mobile devices and legalistic language can make them difficult to understand, Lloyd’s suggested in a recent report. The design and format of policy documents is important, Lloyd’s said in Building simpler

Feature BrokersProfessional DevelopmentTechnology

How to survive a pandemic

October 20, 2020 Rob Vosseler, Executive Vice President, Principal Broker, Union Power Insurance Brokers Inc.

A broker principal shares his story about how his fledgling brokerage managed to navigate its way through the various business disruptions caused by COVID-19