Topic Brokers
The biggest challenge for commercial brokers right now
September 15, 2020 by Adam MalikAmong a myriad of issues facing Canada’s P&C industry, reduced capacity in the property and casualty insurance market is top of mind for one senior executive at Gallagher. “While rate is a very big concern, capacity reduction, to me, is…
Why water damage claims cost the industry more each year than severe weather claims
September 14, 2020 by Adam MalikWater is the primary reason for rising commercial property claims costs and experts are putting the blame squarely on one major issue: Deteriorating infrastructure. Some industry experts say a sharp increase in water damage caused by aging and inadequate pipes…
Westland Insurance reveals its M&A strategy for the future
September 14, 2020 by Jason ContantFresh from closing four acquisitions in western Canada, large brokerage Westland Insurance Group plans to continue exploring opportunities in the west, as well as consider deals that would move the brokerage in a more easterly direction. Westland announced on Sept.…
What’s driving D&O rate increases for privately-held firms
September 11, 2020 by Greg MeckbachLawsuits from employees alleging harassment or discrimination is one reason for significant price increases in directors’ and officers’ liability rates. In Canada, commercial brokerage Gallagher is seeing an uptick in age and gender discrimination claims and workplace harassment claims under…
The ‘new normal’ workplace that could be coming your way
September 11, 2020 by Adam MalikWhile a rating agency complimented the property and casualty insurance space for pivoting its work environment from the office to employee homes, a new workplace survey has found that Canadian employees are looking for greater flexibility in choosing where they…
How brokerage buyers are reacting to COVID market conditions
September 11, 2020 by Jason ContantDemand for Canadian property and casualty insurance brokerages remains strong during the COVID-19 pandemic, but potential brokerage purchasers are becoming more targeted in their approach, a P&C transaction advisor observed. “For most potential transactions, the list of potential purchasers has…
The next big step in accelerating real-time data exchange
September 10, 2020 by Jason ContantThe Canadian property and casualty insurance industry intuitively understands the benefits to brokers, carriers and consumers of better connectivity — it’s a matter of getting everybody moving in the same direction, an industry veteran told Canadian Underwriter recently. “Moving data…
The key demographic noticing the industry’s technological pivot
September 9, 2020 by Adam MalikThe property and casualty insurance industry’s response following the global declaration of the COVID-19 pandemic and how it adjusted quickly in numerous aspects, especially technology, has made the industry more attractive to new graduates, according to a recent report. While…
Why your clients aren’t feeling too good these days
September 9, 2020 by Adam MalikWhether it’s your personal or commercial clients, neither are feeling too optimistic about their financial situation as the COVID-19 pandemic continues to stress them out, a pair of recent surveys have found. But the head of the national broker association…
COVID-19 compounds ongoing real estate insurance challenges
September 8, 2020 by Adam MalikThe global pandemic isn’t necessarily causing a large number of problems around insurance issues in the real estate sector, but it’s clogging up the pathway to making things better. “The way we’re thinking about real estate and insurance is that,…
Thinking of selling your brokerage during COVID-19? Here’s how to proceed
September 8, 2020 by Jason ContantCanadian brokers considering an upcoming merger or acquisition may understandably be concerned given the economy during the ongoing COVID-19 pandemic, but one property and casualty brokerage M&A expert says his firm’s advice is the same as it’s always been. “That…
How brokers can help mitigate risk when clients build in risky areas
September 4, 2020 by Adam MalikCost management needs to become a top priority if the property and casualty insurance industry wants to slow down the rise in premiums for the real estate sector. And to do that, an expert explained, both industries — insurance and…