Topic
Employment
Knowledge transfer key as senior leaders retire: Demographic report
June 2, 2023 by David GambrillDemographic patterns show an emerging need for knowledge transfer strategies while finding qualified people to fill vacated leadership and management positions due to retirement, according to a survey of industry HR professionals for the Insurance Institute of Canada’s 2022-23 industry…
Institute report shows P&C industry ‘hiding its light under a bushel’
June 1, 2023 by David GambrillCanada’s property and casualty insurance industry already scores well in many of the things industry employees say they want from their employers, as suggested in the latest results of the Insurance Institute of Canada’s 2022-23 demographics research report. And therefore,…
How hybrid work can increase broker E&O risk
May 31, 2023 David GambrillWorkplace flexibility, one feature of a hybrid workplace, has proven to be a selling point to attract younger brokers. But the hybrid office makes it difficult to supervise newly recruited brokers to make sure they’re doing things correctly, broker E&O…
Why standard coverage for unions doesn’t cut it
May 15, 2023 by Alyssa DiSabatinoUnions and corporations operate differently, and that means a union needs more tailored insurance coverage when an aggrieved member takes legal action, lest they find themselves underinsured, one expert told Canadian Underwriter. Standard policies typically exclude important coverages for unions,…
Aviva reveals Number 1 risk facing Canadian businesses
May 3, 2023 by Jason ContantEconomic uncertainty remains the Number 1 risk facing Canadian businesses, according to Aviva Canada’s second annual Risk Insights Report. Based on a survey of nearly 1,500 Canadian business leaders, the report found one in three businesses stated they were “very…
Why the P&C broker talent crunch won’t end soon
April 28, 2023 Philip PoradoWhile the hard market’s still a huge challenge for Canada’s broker distribution channel in 2023, finding qualified workers was also top concern for brokers. So said more than 150 nationwide respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey,…
Auto insurers take note: Why this economic downturn is so unusual
April 25, 2023 by Jason ContantCanada’s sluggish economy might be headed for a ‘shallow downturn,’ but it’s unique in the sense there’s also pent-up demand for motor vehicles, said BMO Financial Group chief economist Douglas Porter during an industry event last week. “Anybody here who…
Can risk management companies close the talent gap?
April 20, 2023 Jason ContantA high percentage of today’s pool of risk managers has been working in the industry a long time, and the next largest group are fairly new to the business. Those in the younger group “are excited about what they’ve done…
Why DEI plays into broker employee satisfaction — and turnover
April 17, 2023 by Alyssa DiSabatinoAmid a shortage of P&C industry talent, brokerages should heed the fact there may be a subtle risk to failing to address diversity — employee attrition. Brokers working in organizations without diversity in senior leadership are three times more likely to…
McDougall merges with 100-year-old brokerage
April 5, 2023 by Jason ContantMcDougall Insurance has merged with 100-year-old brokerage Rayburn Insurance Brokers Ltd., a fourth-generation family-owned business located in Tweed, Ont. Rayburn Insurance has been in business since 1922. The brokerage serves Tweed, Northbrook and surrounding areas, offering home, auto, commercial, farm,…
Budget proposals on business sales could affect brokerage owners
March 30, 2023 Philip PoradoThe big deal for Canada’s P&C insurance industry in 2023’s federal budget was a $31.7 million commitment over three years to protect households at high risk of flooding and without access to adequate insurance. But there was some less-noticed news.…
Layoff anxiety: Strategies to ease remote workers’ concerns
March 27, 2023 by Jason ContantWith an economic downturn still a distinct possibility later this year, Canadian P&C industry professionals will likely have understandable concerns about layoffs. But those who go into the office at least some of the time are less likely to say…