Canadian Underwriter

Professional Development

Cybersecurity concept
News InsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentRiskTechnology

Feds developing cybersecurity process for defence contractors  

June 1, 2023 Sarah Ritchie - THE CANADIAN PRESS

OTTAWA – The federal government says certain defence contracts will be subject to a mandatory cybersecurity certification process starting in the winter of 2024.   Defence Minister Anita Anand made the announcement Wednesday morning at the Canadian Association of Defence and

Working from home or playing with the dog?
News BrokersClaimsCommercial LinesEmploymentInsuranceLegalProfessional DevelopmentRisk

How hybrid work can increase broker E&O risk

May 31, 2023 David Gambrill

Workplace 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

Nails being bent by a hammer to illustrate business errors and the need to slow down and think
News BrokersClaimsCommercial LinesInsuranceLive with CUProfessional Development

What key factors spark E&O claims against brokers?

May 25, 2023 David Gambrill

Senior broker retirements, a labour shortage that’s spurring firms to bring new, inexperienced employees into brokerages, and a hybrid office may be combining to increase a broker’s errors and omissions (E&O) exposure. “It’s very difficult to track [broker E&O] claims

Talent acquisition concept
News BrokersCommercial LinesInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

BrokerLink president shares thoughts on brokerage M&A

May 24, 2023 by Jason Contant

BrokerLink still sees plenty of M&A opportunities in provinces where it currently operates and doesn’t have any immediate plans to expand into new geographic areas, the brokerage’s president told Canadian Underwriter in an interview Tuesday. BrokerLink is focusing its resources

Group of businesspeople holding jigsaw puzzle pieces
News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Definity’s McDougall merges with McFarlan Rowlands 

May 8, 2023 by Jason Contant

Large Ontario brokerage McDougall Insurance Brokers Limited, a subsidiary of Definity Financial Corporation, has merged with another large provincial brokerage — McFarlan Rowlands Insurance Brokers Inc.  The combination of McDougall and McFarlan Rowlands represents more than $700 million in annual

David Wong is the new president and CEO of ICBC
News AnnouncementsAppointmentsInsuranceProfessional Development

ICBC announces new president and CEO

May 1, 2023 by Jason Contant

Insurance Corporation of British Columbia’s (ICBC) board of directors has appointed David Wong as its new president and CEO, effective May 15. Wong, a chartered professional accountant, will join ICBC following years of experience at the province’s power utility, BC

A lot of employees at insurance brokerages are planning to leave the industry
News BrokersInsuranceProfessional Development

What our 2023 survey says about broker job satisfaction

May 1, 2023 Philip Porado

Beyond recruiting challenges, data from Canadian Underwriter’s 2023 National Broker Survey show retention will continue to be a major issue for property and casualty (P&C) insurance brokers this year. The survey, answered by more than 150 brokers nationwide, asked about

Help wanted advertisement
News BrokersEmploymentInsuranceProfessional Development

Why the P&C broker talent crunch won’t end soon

April 28, 2023 Philip Porado

While 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,

Woman mentoring a young employee in the office
News InsuranceProfessional Development

Why ‘reverse mentoring’ is better than mentoring

April 25, 2023 by David Gambrill

Mentoring up, or ‘reverse mentorship,’ in which managers learn as much from employees as employees learn from their managers, is fast becoming a topic of conversation in a P&C industry characterized by significant gaps in age and professional experience. “I’m

Puzzle piece with red icon fitting into puzzle with black icons
News BrokersInsuranceProfessional Development

How brokerages are attracting and retaining key diverse talent

April 24, 2023 by Alyssa DiSabatino

Bringing new talent through the doors is a priority for brokerages nationwide, said 322 respondents to a recent Canadian Underwriter online survey.  About two-thirds (71%) of brokers, reporting all levels of diversity within their senior leadership, have seen at least some

Insurance adjuster examining a building destroyed by fire
News AdjustersClaimsClimate ChangeEmploymentEngineeringInsuranceProfessional DevelopmentRestorationRisk

Can risk management companies close the talent gap?

April 20, 2023 Jason Contant

A 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

An office worker leaving his job with all his belongings in a box
News BrokersEmploymentInsuranceProfessional DevelopmentRisk

Why DEI plays into broker employee satisfaction — and turnover

April 17, 2023 by Alyssa DiSabatino

Amid 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