Canadian Underwriter

Topic Brokers

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News BrokersInsurersMergers and Aqcuisitions

2 things brokers can do to stay afloat amid market consolidation

June 28, 2022 by Alyssa DiSabatino

Building relationships across the industry and offering consistency can help brokers overcome a slew of future challenges, including quickening market consolidation, an impending recession, diminished capacity and the hard market, say broker executives. “In order to be able to meet

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News AlbertaBrokersClaimsCommercial AutoInsurersPersonal Auto

Post-Kenney, will the auto rate cap return after the next AB election?

June 27, 2022 by Jason Contant

Outgoing Alberta Premier Jason Kenney’s announcement last month that he will step down following a leadership review is raising concerns among brokers in the province about the possibility of another auto insurance rate cap. In 2017, Alberta’s NDP government under

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News BrokersHRInsurers

How the industry can better promote 2SLGBTQ+ inclusion

June 27, 2022 by Alyssa DiSabatino

Many Canadian P&C companies have shown their support for 2SLGBTQ+ Pride by emblazoning their company logo in rainbow colourways. But creating employee-resource groups, recruitment practices and marketing that embraces 2SLGBTQ+ employees, stakeholders and policyholders is critical for moving the dial

A close up shot of a laptop. One of the keys reads "insurance" and has an umbrella symbol on it.
News BrokersInsurers

Digital-only for P&C consumers after the pandemic? Not so fast…

June 24, 2022 by Alyssa DiSabatino

Despite online insurance gaining popularity, consumers still need — and want — personalized advice from their insurance companies and brokers, executives observed during a recent industry panel discussion.   “I had really thought at the end of 2020 that digital

Insurance broker discussing and consulting on auto insurance policy
News BrokersInsurersOntarioPersonal Auto

Broker or insurer: Who’s responsible for letters of non-renewal on auto policies?

June 23, 2022 by Jason Contant

The issue of how much responsibility an Ontario broker has for sending out non-renewal notices to auto insurance clients is in the spotlight, featuring an online discussion focused on adequate notice time and the possibility of errors and omissions (E&O)

News AlbertaB.C.BrokersInsurersLegal

Don Forgeron to retire from Insurance Bureau of Canada

June 23, 2022 by Alyssa DiSabatino

Don Forgeron will retire as president and CEO of the Insurance Bureau of Canada after a tenure of almost 30 years. He will also retire as a member of the IBC’s board of directors. The search for Forgeron’s successor will

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News B.C.BrokersClaimsCommercialInsurersLegal

Water damage dispute: Why the court wouldn’t end three-year dispute resolution

June 22, 2022 by David Gambrill

B.C.’s Supreme Court has denied a claimant’s attempt to bail out of two mandatory dispute resolution hearings with multiple insurers in a three-year dispute over the value of water damage in her strata unit. “The plaintiff is understandably frustrated by

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News BrokersInsurersMergers and Aqcuisitions

How much of the industry will change hands in five years: Intact exec

June 22, 2022 by Alyssa DiSabatino

Canada’s largest insurer thinks 15% of insurers will undergo ownership changes in the next five years. “We predict that about 15% of the existing market shares will change hands in the next five years,” said Louis Gagnon, CEO of Intact

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News BrokersHRInsurersTrusted Advisor

Commissions may not compensate brokers for rising workloads

June 21, 2022 by David Gambrill

Commission structure doesn’t always compensate for the time brokers must spend preparing for prospective business, only to have a client reject the proposal, said a broker responding to Canadian Underwriter’s latest National Broker Survey. “If I go to a dentist,

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News BrokersInsurersMergers and Aqcuisitions

Three key issues facing the broker channel

June 21, 2022 by Alyssa DiSabatino

Expect the quickening pace of mergers and acquisitions (M&A) activity to present a big challenge — or advantage — to brokers, Joseph Carnevale, president at Insurance Brokers Association of Ontario, said at the Young Brokers Conference.   The Insurance Broker

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News BrokersCommercialCommercial AutoConstructionCyberHRPersonal AutoPersonal HomeProperty

Yes, COVID-19 really did boost broker workloads

June 20, 2022 by David Gambrill

While the pandemic created extra work for brokers, it also highlighted the value of the broker proposition, which includes, choice, advice and advocacy, according to Canadian Underwriter‘s 2022 National Broker Survey, which asked more than 250 brokers nationwide about challenges

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News BrokersClaimsInsurers

How the industry is addressing service level challenges

June 20, 2022 by Alyssa DiSabatino

Consumer behaviour, supply chain issues and staffing shortages are among the reasons why service levels have been challenged in recent months, but revamping outdated technology and insourcing claims may help ease the backlog, say industry executives.  Processing claims in-house helps