Topic
Markets / Coverages
Brokers are more like Amazon than they think: IBAO Convention
October 24, 2022 by Alyssa DiSabatinoMuch like Amazon, P&C insurance brokers offer consumers distribution, choice and data, a broker executive observed at the Insurance Brokers Association of Ontario (IBAO) convention in Toronto last Thursday. In the same way, brokers offer insureds three things that…
Amazon U.K. is selling insurance. Should Canadian brokers be worried?
October 21, 2022 by David GambrillAmazon in the U.K. has launched a new online store to sell home insurance, prompting Canadian insurance company and broker executives to ask: ‘Could it happen here?’ “In my view, it’s a turning point,” Intact Insurance CEO Louis Gagnon commented…
Opinion: How to end subscription policy bottlenecks
October 21, 2022 Douglas MorrowWhile the worst of the hard market in Canada is gradually drifting behind us and COVID-19 is taking something of a holiday, not all is rosy, especially for commercial lines business. Brokers worked tirelessly over the past several years to…
How Lloyd’s broke the bottleneck for Canadian MGAs
October 21, 2022 by Jason ContantEditor’s Note: This article has been revised to clarify the rules around continuous binding authorities emanating from Lloyd’s. Managing general agents (MGAs) with a binding authority contract from Lloyd’s — and where the capacity under the contract is provided…
How ESG affects the entire insurance supply chain
October 20, 2022 by Jason ContantImplementing environmental, social and governance (ESG) strategies will create a ripple effect impacting the entire insurance supply chain and billions of dollars in investments, said George Longo, president and CEO of MGA Excess Underwriting. “The ripple effect is going to…
What your snowbird clients need to know before they fly south
October 20, 2022 by Alyssa DiSabatinoSnowbirds flying south for the winter should heed that they need a policy that differs from a traditional travel policy, one expert says. They also must inform their broker that they’ll be on an extended trip, so they can update…
Mining industry digs into alternative methods as risks rise
October 20, 2022 Ian Bickis - THE CANADIAN PRESSIn the North, some mines risk leaking acid if the permafrost melts, while across Canada heavier rainfall will add strain to tailings dams and a lack of it could throw operations. While no strangers to extreme weather, the growing risks…
Why insurance has street performers singing the blues
October 19, 2022 by PhilRising costs for busker’s insurance has street performers singing the blues. To hear them tell it, sky high insurance rates cut so far into their profits that it often makes more sense to just stay home. And, depending on the…
Fiona officially the costliest extreme weather event in Atlantic Canada
October 19, 2022 by Jason ContantHurricane Fiona is the costliest extreme weather event ever recorded in Atlantic Canada, at $660 million in insured damage, according to preliminary estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The long-lived and powerful storm on Sept. 24 is also…
How inflation is factoring into reinsurance results
October 17, 2022 by Jason ContantThe first half of 2022 saw robust premium growth and generally strong underwriting results for global reinsurers, but inflation remains a wild card, according to the latest Aon’s Reinsurance Aggregate (ARA) report series from one of the world’s largest brokerages.…
Small businesses bullish on future growth despite recession concerns: KPMG survey
October 17, 2022 by Jason ContantTORONTO – A new KPMG survey has found Canada’s small and medium-sized businesses are banking on strong growth in the next three years, even as a possible economic downturn remains top of mind in the near term. The survey of…
Why benefits, retirement and wealth planning are now P&C profit centres
October 14, 2022 Philip PoradoRecent merger deals announced by Canadian commercial P&C brokerages increasingly feature acquisitions of wealth management and employee benefits firms, and this is no accident, brokers tell Canadian Underwriter. This subset of M&A is about P&C brokerages becoming a type of…