Canada’s reinsurance marketplace, featuring a relatively small piece of the global premium pie, creates a challenge for reinsurers to grow their business. So why do reinsurers remain optimistic about their future prospects?
SurexDirect.com increased its revenue by 3,097% in five years, making it Canada’s fastest-growing insurance business. How they did it and what’s in store
Considering the potentially devastating effect of a cyber attack on a small business in Canada, it’s surprising to see a recent study showing that more than a third of Canadian firms do not report carrying cyber insurance coverage. “For me,…
Plamen Petkov, vice president of Ontario and business resources at the Canadian Federation of Independent Business, which represents 110,000 small businesses across Canada, provides insight to help brokers forge successful business partnerships with small business owners. DO: Establish very clearly…
Consider the sheer courage of Canadian business owners. With so many commercial risks and liabilities, from property and casualty to employee fraud, credit risk, key-person vulnerabilities – and now cyber attack (see story on Page 23) – it’s a wonder…
Canada’s tourist boom is creating a big opportunity for brokers in travel insurance lines. “Brokers should take advantage of opportunities to ask their clients whether or not they have any friends or family travelling from abroad,” says Dan Keon, director…
Pollution liability is a risk some commercial clients don’t realize they have. Others may be aware of the risk, but mistakenly assume it is covered by an existing commercial general liability policy. Either way, brokers need to know what CGL…
Brokers interested in selling marine insurance should target coverholders and managing general agents (MGAs) in Canada rather than going straight to the London market, advises Capt. John Hosty, national director of marine services at ClaimsPro. “There are a lot of…
In general liability lines, where pricing and competition are still healthy, brokers are more likely to notice windows of opportunity starting to close – particularly in the hot tar and hospitality lines. “Competition is out there, capacity is still out…
In financial and legal lines of commercial insurance, the Canadian property and casualty insurance market has shown a greater willingness to serve clients who are engaged in mergers and acquisitions (M&A). Representations and warranties (R&W) insurance is a type of…
An emerging class of professional consultants is a new area of opportunity for brokers seeking to place errors and omissions insurance. “We as a society have changed to become more service-oriented,” says Marilyn vanGansewinkel, vice president of specialty insurance solutions…
Specialty Lines insurance is quickly becoming the new commercial standard, thanks to the meltdown of the vanilla CGL policy. Here’s why you can expect to reach out to specialty markets more often in the future.