Topic
Brokers
Definity’s plans for brokerage, insurer M&A
November 28, 2022 by Jason ContantDefinity Financial Corporation is interested in both P&C brokerage and carrier acquisitions, the insurer’s president and CEO Rowan Saunders confirmed during a recent virtual fireside chat with RBC Capital Markets. “Even though we’ve just recently done a significant acquisition in…
Two welcome commercial premium trends, post-pandemic
November 25, 2022 by Jason ContantGallagher in Canada is seeing some interesting premium trends in liability and commercial auto lines, now that pandemic restrictions are virtually non-existent. Businesses such as restaurants were shuttered or faced restrictions throughout the peak parts of the pandemic, meaning that…
How young, aspiring brokerage owners can outflank the consolidators
November 24, 2022 by Alyssa DiSabatinoWith the older generation of brokers retiring, opportunities are abound for young brokers who want to buy into an existing independent brokerage, said panellists in Canadian Underwriter’s LinkedIn Live event, ‘How to become a young brokerage owner.’ “[Independent broker owners]…
Why being a good broker alone won’t cut it for ownership
November 23, 2022 by Alyssa DiSabatinoWant to own your own brokerage? Get familiar with the business side of things first, said a P&C financial advisor in a Canadian Underwriter LinkedIn Live panel discussion. “When I think about what makes a successful brokerage owner, most brokerage…
How hurricane losses will impact pricing and capacity
November 21, 2022 Philip PoradoWatch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”…
Cyber insurers’ appetites are shifting. Here’s what to expect…
November 21, 2022 by Alyssa DiSabatinoCanada’s ongoing hard market in cyber has seen most insurers capping their coverage at somewhere between $3-million and $5-million, experts observed in a Gallagher Talks session. “We’re seeing exclusions for known [software] vulnerabilities [and] capacity restrictions as well,” said…
Organizations more willing to pay ransom for this type of data breach
November 18, 2022 by Alyssa DiSabatinoRansomware is out, intellectual property data exfiltration is in. At least, that may be the bigger concern for breached companies these days, cyber experts warned in a Gallagher Talks presentation. Organizations are less likely to pay a ransom when their…
Covering larger risks? Why subscriptions may be the way of the future
November 18, 2022 Philip PoradoAs claims from Cat events and other external risks get larger, the simplest solution to cobbling together coverage might be a subscription approach that spreads risk and reduces individual insurers’ losses. “Subscribing the risk is better for the industry,” George…
Will inflation stop Canadians from buying winter tires?
November 17, 2022 by Alyssa DiSabatinoEven when faced with the rising cost of living, 82% of Canada’s motorists believe investing in winter tires is important, said a new survey by the Tire and Rubber Association of Canada (TRAC). However, brokers will be interested to know…
Insurers urge trucking fleets to use telematics data more proactively
November 17, 2022 by David GambrillInsurance companies are looking for truck fleets to manage their telematics data more proactively through the development of individual driver scorecard programs. “Insurance companies expect that [trucking fleets] don’t just have the [telematics] technology, but they’re doing something with the…
What selling a brokerage and ‘The Bachelor’ have in common
November 17, 2022 Philip PoradoDating 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…
Canadian insurtech announces layoffs
November 16, 2022 by David GambrillVancouver-based insurtech Apollo Insurance has laid off approximately 25% of its workforce of about 125 people across Canada, according to one source familiar with the matter. Employees were told during a 9 a.m. meeting, Pacific Time, according to the source,…