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Professional Development

Sealing the M&A deal with a handshake
News AnnouncementsAppointmentsBrokersCommercial LinesInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Industry veteran joins Westland following acquisition

January 13, 2023 by Jason Contant

Industry veteran Doug Morrow has joined Westland Insurance as its new vice president of commercial insurance for Alberta, the brokerage announced earlier this week. Most recently president and CEO of Excel Insurance Group, Morrow joined Westland as vice president, commercial

Young, overworked worker unhappy about being passed up for promotion
News EmploymentInsuranceProfessional Development

How to motivate a top performer if you can’t promote them

January 4, 2023 by Jason Contant

Every brokerage has one or more top performers, but what can you do if you can’t promote them? Try developing interim strategies to help these employees get their underlying needs met, advises a new blog from Harvard Business Review. When

Worker gesturing during remote meeting
News EmploymentInsuranceProfessional DevelopmentTechnology

Are your remote workers less engaged?

December 15, 2022 Jason Contant

Executives’ fears that remote workers are becoming less engaged and spontaneous when working online than they are while in the office may be unfounded, new research has determined. One of executives’ biggest worries about remote work is the reduction in

Busy businessman working in the office
News Commercial LinesInsuranceMarkets / CoveragesMGAsProfessional Development

How MGAs are dealing with underwriter shortages

December 12, 2022 by Jason Contant

Canadian P&C managing general agencies (MGAs) are dealing with a lack of underwriters due to increased demand for products and services combined with traditional staff turnover, an industry executive told Canadian Underwriter. “MGAs are, from what we see, the fastest

Cloud file folder being accessed by an insurance broker
News BrokersInsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

Do digitally efficient brokerages make better acquisition targets?

December 2, 2022 Alyssa DiSabatino

Brokerage owners shouldn’t just invest in digitization for its own sake, says one financial advisor. They should do it to make a purchase and integration easier for consolidators. Consolidators don’t necessarily expect small brokerages to digitize before acquisition, said Alex

Close up shot of four businesspeople's hands. Each person is reaching forward and holding the piece of a puzzle next to their colleague's hands.
News BrokersInsuranceProfessional Development

Why financing your brokerage ownership aspirations should come last, not first

November 29, 2022 by Alyssa DiSabatino

Financing is usually the last piece of the brokerage ownership puzzle, suggests one P&C financial advisor, even though 57% of young brokers see financing as their biggest obstacle to ownership, according to Canadian Underwriter survey results.  Broker entrepreneurs should ensure

Two businessmen figurines each standing atop a white puzzle piece and looking pensive
News BrokersInsuranceMergers and AqcuisitionsProfessional Development

How young, aspiring brokerage owners can outflank the consolidators

November 24, 2022 by Alyssa DiSabatino

With the older generation of brokers retiring, opportunities are abound for young brokers who want to buy into an existing independent brokerage, said panellists in Canadian Underwriter’s LinkedIn Live event, ‘How to become a young brokerage owner.’ “[Independent broker owners]

A man sits at a computer desk with a notepad in hand. Another man, both in business clothes, is leaning over his shoulder and pointing at the notepad.
News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Why being a good broker alone won’t cut it for ownership

November 23, 2022 by Alyssa DiSabatino

Want to own your own brokerage? Get familiar with the business side of things first, said a P&C financial advisor in a Canadian Underwriter LinkedIn Live panel discussion. “When I think about what makes a successful brokerage owner, most brokerage

Shopping cart representing selling a business
News BrokersCommercial LinesConstructionEmploymentInsuranceMergers and AqcuisitionsProfessional Development

Three options for selling your brokerage

November 11, 2022 Philip Porado

A consistent stream of property and casualty brokerage acquisition announcements over the past few years likely has a lot of brokerage owners thinking about how they’ll eventually exit the business. For most sales transactions, there are three basic options. One

Celyeste Power is the new CEO of IBC
News AnnouncementsAppointmentsAssociationsEmploymentInsuranceProfessional Development

IBC announces new president and CEO

November 10, 2022 Canadian Underwriter Staff

Celyeste Power will succeed retiring Insurance Bureau of Canada (IBC) president and CEO Don Forgeron at the end of 2022. Power, who takes over as president and CEO on January 1, 2023, is currently executive vice-president for strategic initiatives and

Renee-Lea Soucy, senior manager of commercial insurance, The Co-operators
News AssociationsBrokersInsuranceProfessional Development

How to develop the P&C industry’s future leaders

November 8, 2022 by Jason Contant

It’s important for women in Canada’s insurance industry to hear stories about the paths other women leaders have taken to achieve success, said the winner of a national leadership award from the Insurance Institute of Canada. “We need to give

Older businessman looking worried about getting fired
News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

What happens to wealth advisors when P&C brokers buy them out?

November 4, 2022 Philip Porado

Succession planning is a key component of the acquisition strategies employed by P&C brokers buying wealth management, retirement planning and employee benefits advisories. That said, P&C brokerage buyers aren’t looking for the sellers to leave right away after the sale.