Topic Brokers
What you need to do to get your client’s submission approved by underwriters
September 24, 2020 by Adam MalikBrokers need to pay close attention to the quality of submissions they make on behalf of clients to underwriters because the smallest missing detail can be the difference in whether or not the application is approved. Underwriters are swamped these…
Commercial clients that may take the longest to recover from the pandemic
September 23, 2020 by Adam MalikAfter early hopes that brokers and insurers might be able to sell more commercial premium early next year as small businesses activity normalizes, a new report finds that it may be upwards of a year-and-a-half on average for a return…
What happens in Alberta when auto insurers are not comfortable with their profitability
September 23, 2020 by Greg MeckbachThe Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday…
One COVID cyber threat you may not have considered
September 22, 2020 by Jason ContantCyber exposure for your clients has shifted from the obvious operational standpoint of remote working during the COVID-19 pandemic to a data retention standpoint, a Gallagher executive said recently. “Many organizations are collecting personal health information on employees, maybe on…
Aon exec urges the industry to ‘try to do better’ at offering basic coverages
September 22, 2020 by Adam MalikThe property and casualty insurance industry needs to to a better job of ensuring that basic coverages — such as protection from water and fire — are available to clients and that there isn’t a protection gap, said Matt Wolfe,…
Selling a career in insurance? Try this approach….
September 21, 2020 by Adam MalikWhen a student or recent graduate asks what they’ll be doing if they were to work in the property and casualty insurance industry, it’s important to give them a detailed sense of what any given career in the industry might…
What brokers can expect to see in the quota share subscription business
September 21, 2020 by Adam MalikBrokers during the COVID-19 pandemic can expect to see carriers tighten up policy wordings to reduce ambiguity about pandemic cover, but that might cause delays in quota share subscription business as insurers ponder the precise wordings they want to use,…
It’s full steam ahead for brokerage M&A, now that the pandemic pause is over
September 18, 2020 by Jason ContantAfter the COVID-19 pandemic temporarily paused brokerage mergers and acquisitions (M&A) activity in Canada earlier this year, it appears that the deals are once again moving forward at a steady pace. The markets’ reaction to the pandemic has been very…
One thing an insurer will consider before investing in commercial surety bonds
September 17, 2020 by Jason ContantSpecific industry risk can play a major role in how much capital an insurer is willing to put forward for commercial surety bonds, a speaker said during a recent webinar. Industry risk is a “unique” underwriting consideration, Rob Dempsey, senior…
What’s unique to this hardened real estate insurance market
September 17, 2020 by Adam MalikAt the same time insurers have a reduced appetite to take on real estate risks, real estate developers during a pandemic-induced economic recession have an aversion to investing a lot of money into risk-reduction measures. These twin dynamics are a…
Intact’s rationale for buying this bond and marine brokerage
September 16, 2020 by Greg MeckbachIntact Financial Corp.’s latest “tuck-in” brokerage acquisition is part of its ongoing expansion effort in the United States, chief financial officer Louis Marcotte suggested Tuesday. International Bond & Marine Brokerage Ltd. of Hoboken, N.J., announced Sept. 11 it is now…
Aon exec discusses industry ‘sins’ and puts COVID claims into perspective
September 16, 2020 by Adam MalikRiding the wave of high interest rates years ago, some P&C insurers and reinsurers overlooked their escalating combined ratios, an industry exec recently observed during a webinar. And that’s coming back to bite the industry now that the global COVID-19…