Topic
Brokers
CU launches new P&C industry podcast
November 8, 2022 David GambrillCanadian 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,…
What happens to wealth advisors when P&C brokers buy them out?
November 4, 2022 Philip PoradoSuccession planning is a key component of the acquisition strategies employed by P&C brokers buying wealth management, retirement planning and employee benefits advisories. That said, P&C brokerage buyers aren’t looking for the sellers to leave right away after the sale.…
The best way to support young prospective broker owners
November 4, 2022 by Alyssa DiSabatinoMentorship and training are the best ways to support young brokers who aspire to senior leadership or brokerage ownership roles, say brokers responding to a Canadian Underwriter online survey. However, brokerage principals and their employees aren’t fully aligned on how…
‘Race discrimination’: Indigenous Quebec man who lived on reserve denied insurance
November 4, 2022 Sidhartha Banerjee CANADIAN PRESSMONTREAL – An Indigenous Quebec man who was denied car insurance because he lived on a reserve was the victim of race discrimination, the province’s human rights commission concluded in a recent decision. Alexis Wawanoloath, a lawyer and ex-Parti Quebecois…
How to keep your top sales producers from flying the coop
November 3, 2022 by David GambrillSix out of ten employers don’t really understand what motivates their salespeople, which may cause their top sales producers to seek work elsewhere, according to a Harvard Business Review blog. While employers are responding to staff burnout by tweaking the…
How supply chain is leading to repair challenges for electric vehicles
November 3, 2022 by Alyssa DiSabatinoThe semiconductor chip shortage — a byproduct of the demand for advanced electric vehicle (EV) technology — has caused repair challenges for car rental services, says one expert at the Insurance Brokers Association of Ontario (IBAO) Convention in Toronto. However,…
One size doesn’t fit all: why office time needs to be maximized accordingly
November 2, 2022 by Alyssa DiSabatinoCompanies that don’t employ, at the very least, a hybrid work option, can expect an increase in employee turnover. “And what that means is losing talented employees to other organizations,” said hybrid work expert Hassan Osman at the Insurance Brokers…
M&A deals boost the volume of mutual insurers
November 1, 2022 by Jason ContantCollectivfide Insurance Group has closed the acquisition of majority stakes in two Ontario-based brokerages, its 7th and 8th deals since its formation in 2019. “We are continuing to achieve our goal of growing and protecting mutual volume with the addition…
How Canada’s P&C market shifted in 2022
November 1, 2022 by Alyssa DiSabatinoMarket conditions remain complex but are stabilizing as the industry approaches its last quarter this year, Aon’s 2022 Canadian Insurance Market Report found. Increased competition, along with positive underwriting results and loss activity, marks a transition from significantly challenged market…
Yes, brokers and consumers do define value differently
October 31, 2022 by Alyssa DiSabatinoPersonalized service is what consumers across Ontario most value in their relationships with P&C brokers, with broker expertise coming in second, found a market research expert speaking at the recent Insurance Brokers Association of Ontario (IBAO) Convention. On the other…
Selling your brokerage? Don’t forget to tell your clients
October 31, 2022 Michael CareyImagine you’re a client who calls your broker to talk about renewing a policy, only to find they’ve sold the business and moved to Florida. It’s hardly an elegant retirement notification. A client would much rather be told about the…
How acquisitions help P&C brokers boost cross-selling options
October 28, 2022 Philip PoradoSeveral Canadian commercial P&C brokerages are actively acquiring wealth management, retirement planning and employee benefits firms so they can boost revenues by adding to their product ranges. The simple math suggests a larger product suite — one that brings in…