Topic
Markets / Coverages
What do your insurance clients actually need? Ask them
January 15, 2024 by Alyssa DiSabatinoThe first step to conducting research on customer needs is to ask, rather than assume, what your customers want, suggested Robin Shufelt, CEO at First Acre Insurance — a new farming MGA. Yet, despite the insurance industry investing nearly…
Tremors from Red Sea conflict start to shake Canada, with dozens of ships delayed
January 15, 2024 The Canadian PressMONTREAL – Canadian shippers are starting to feel the strain of attacks on cargo vessels in the Red Sea, as container rates rise and boats are late to arrive. Port data shows that two-thirds of the 43 ships slated to…
What’s at risk if the national flood insurance program stalls
January 10, 2024 by Alyssa DiSabatinoInsurers will need to be informed about their role in the national flood insurance program by Spring 2024 if it’s to be operational before the next federal election, an Insurance Bureau of Canada (IBC) executive tells Canadian Underwriter. The…
WTW names head of personal lines for Canada, U.S.
January 10, 2024 by Jason ContantLarge brokerage WTW has appointed Despina Buganski as head of personal lines for its Corporate Risk & Broking division for North America (CRB NA). Effective immediately, both WTW’s Canadian and U.S. personal lines teams will report directly to Buganski, the…
Why growth is the name of the game for Canadian MGAs
January 9, 2024 by Jason ContantCanada’s property and casualty MGA sector will likely double in the next five years when it comes to commercial insurance market share, an industry executive told Canadian Underwriter in an interview. Currently, about 20% of commercial business is placed with…
What private equity clients can expect in 2024
January 8, 2024 by Alyssa DiSabatinoPrivate equity deal volume is expected to rebound in 2024 after slowing last year, and that means your PE clients can expect to see their insurance rates — particularly for liability and indemnity (D&O and R&W) — decrease or flatten…
Wildfires in Alberta burned 10 times more area in 2023 than the five-year average
January 5, 2024 Colette Derworiz - THE CANADIAN PRESSAlberta Wildfire says it saw an average number of wildfires last year, but the area burned across the province set a record. The province saw a total of 1,088 wildfires that burned about 22,000 square kilometres from March 1 to…
Vehicle sales posted biggest annual jump last year since 1997: DesRosiers
January 4, 2024 The Canadian PressTORONTO – Auto sales jumped 11.8 per cent in 2023 compared with the year before as vehicle supply continued to improve, according to DesRosiers Automotive Consultants. The report says it was the biggest year-over-year increase in sales since 1997. DesRosiers…
McDougall’s Drayden Insurance acquires Alberta brokerage
January 3, 2024 by Jason ContantAlberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased…
MPI’s Top 5 auto fraud claims of 2023
January 2, 2024 by Jason ContantA customer who claimed amnesia following an auto collision and another who said their symptoms were so severe they were unable to work were among Manitoba Public Insurance’s (MPI) Top 5 fraud claims of 2023. Every year, it’s estimated auto…
Aon to acquire NFP in major brokerage merger
December 20, 2023 Philip PoradoAon expanded its worldwide property and casualty insurance market presence by today acquiring NFP — a leading middle market P&C broker, benefits consultant, wealth manager and retirement plan advisor. Aon will acquire NFP for an estimated $13.4 billion at closing.…
Canada to pilot options for national emergency response agency in 2024
December 15, 2023 Mia Rabson - THE CANADIAN PRESSOTTAWA – A new national emergency response agency may consist of regional response teams that Ottawa can call into action when disaster strikes, Emergency Preparedness Minister Harjit Sajjan said in a recent interview. It is clear some kind of federal…