Canadian Underwriter

Topic
Brokers


fortunetelling 2024 with a golden crystal ball in a hand, festive atmosphere for happy new year party or award ceremony or other holiday celebrations, 3d illustration
News BrokersCatastrophesClaimsEarnings / RatingsInsurance

Introducing our 2024 Executive Outlook series

December 19, 2023 by David Gambrill

In the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film, Rick Blaine,

Bad car crash
News BrokersClaimsInsurance

Do auto clients ask for trouble by hiking deductibles?

December 15, 2023 Philip Porado

During the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on

Fire, flood, hurricane
News BrokersCatastrophesClaimsInsurance

Can Canada’s P&C industry catch up to NatCats?

December 14, 2023 Philip Porado

In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents

News BrokersInsurance

How insurance premium financing enhances client relationships

December 13, 2023 Jeffrey Psiuk

Canadian brokerages aren’t taking full advantage of an opportunity to arrange premium financing for their clients, particularly for commercial policies covering broad-based risks. In Canada, only 15% of brokered premiums are financed. By comparison, the U.K. rate is 20%, and

Office building for rent
News BrokersInsuranceMarkets / Coverages

How COVID-19’s wane could change commercial real estate coverage

December 13, 2023 Philip Porado

Real estate pundits, including panellists at a Columbia University School of Business discussion early this year, are sounding the alarm about North America’s downtown cores. They’re predicting employees will shun return-to-office mandates, sparking tenancy death spirals for commercial lessors that

Minor car accident
News BrokersClaimsInsurance

How economic woes hike minor accident claims

December 13, 2023 Philip Porado

Current economic conditions have people stressed, and it’s showing up in personal auto claims, said Jesica Ryzynski, a claims specialist with Mitch Insurance. Minor at-fault accidents among insureds are taking place more frequently, she told CU, with many taking place

Person entering data into system
News BrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProductsTechnology

Why most of your commercial clients are underinsured by at least 30%

December 12, 2023 by Jason Contant

Accurate valuation and occupancy data points remain top challenges for commercial broker submissions, according to Greg McCutcheon, president of Canada’s largest property data provider, Opta Information Intelligence.  In this inflationary environment, keeping up with valuations and ensuring commercial property brokers

Joining a puzzle on a blue background; M&A concept
News AnnouncementsBrokersCommercial LinesMergers and Aqcuisitions

This province is Hub’s latest benefits firms acquisition target

December 12, 2023 by Alyssa DiSabatino

Global commercial brokerage Hub International announced the acquisitions of two Alberta benefits firms this week.   Hub, based in Illinois, has acquired JRP Financial Services, Inc., as well as the shares of The Musgrave Group. Terms of the transactions were

Carjacker with gun
News BrokersClaimsInsuranceTechnology

How new vehicle tech is changing the auto theft equation

December 11, 2023 Philip Porado

There’s a small upside to Canada’s current auto theft wave, industry sources have told Canadian Underwriter. Thieves’ adoption of technologies that can capture vehicle key fob signals means criminals no longer need to resort to violent methods like carjacking to

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,”