Topic
Insurance
How the cyber line should source its talent
June 8, 2023 by Alyssa DiSabatinoWhen recruiting for talent to sell cyber insurance, widening the expectations around job experience may be one place to start, suggested experts at a Gallagher Re Industry Event in Toronto. “The space is changing so quickly that 15- or 20-years’…
Acquisition broadens NFP’s Ontario base
June 8, 2023 Philip PoradoNFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release. The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,”…
Auto insurers pay out record amount for auto theft
June 8, 2023 by David GambrillSupply chain issues are creating a hot domestic market for stolen vehicles, which in 2022 cost Canadian property and casualty auto insurers more than an estimated $1 billion — the most the industry has ever paid for auto theft in…
More evacuations in Quebec as record breaking fires continue to burn
June 8, 2023 Sidhartha Banerjee and Jacob SerebrinMONTREAL — Quebec’s wildfire season, which has forced thousands from their homes and left other communities on high alert, is the worst on record, officials said Wednesday. Premier Francois Legault told reporters in Quebec City that the areas in the…
Will lack of diversity mean the end of your brokerage?
June 7, 2023 by Jason ContantInvesting in diversity, equity and inclusion (DEI) initiatives could literally spell the difference between survival and death for a brokerage, a panellist suggested Tuesday during a Canadian Underwriter webinar. Colette Taylor, chief operating officer at Sovereign Insurance, expressed concern about…
Will fewer mergers reduce reps and warranties insurance pricing?
June 7, 2023 Jason ContantPricing in the representations and warranties (R&W) insurance market has softened relative to the hard market conditions experienced from the start of 2021 into the first half of 2022, industry professionals told CU. R&W insurance protects against financial loss arising…
Bank of Canada raises key interest rate amid stubbornly high inflation
June 7, 2023 The Canadian PressOTTAWA – The Bank of Canada announced a quarter-percentage point rate hike Wednesday, the first interest rate increase since January, as high inflation persists. Its key interest rate now sits at 4.75 per cent, the highest it’s been since 2001.…
Easy, low-cost ways to improve DEI at your brokerage
June 6, 2023 by Jason ContantBrokerages that might not have resources to embark on large-scale diversity, equity and inclusion (DEI) programs can start small by committing to change, a speaker said Tuesday during a Canadian Underwriter webinar. “If you’re a small brokerage, maybe don’t have…
Province to launch restricted licence for incidental insurance
June 6, 2023 by David GambrillB.C.’s broker regulator, the Insurance Council of B.C., is now consulting on a proposed new restricted licensing framework to regulate the sale of incidental insurance, the council announced in late May. The regulator’s initiative follows the province’s Bill 37, which…
BrokerLink buys Burlington brokerage
June 6, 2023 Philip PoradoFor the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle),…
Will this be the worst wildfire season Canada has ever seen?
June 6, 2023 Mia Rabson - THE CANADIAN PRESSOTTAWA – This is on track to be the worst fire season Canada has ever seen and the risk of wildfires will remain well above average in most of the country throughout the summer, the federal government warned Monday. At…
Origin and Cause Expands Team with Materials Engineer in Vancouver, B.C.
June 6, 2023 Origin and CauseVANCOUVER, BC, JUNE 6, 2023/insPRESS/ – Origin and Cause, a leading forensic engineering and fire investigation firm with offices across Canada, is proud to announce the addition of Paul Emadi, Ph.d., P.Eng. to their Vancouver office. Paul is a Materials…