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Executive Outlook 2021: Coming Next Week

December 17, 2020 by David Gambrill

For nine long months, Canada’s property and casualty industry has responded to clients’ needs during a global pandemic first declared in March 2020. COVID-19, the disease caused by the novel coronavirus, has effectively changed the way we live. It has

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What brokers need to do to place hospitality coverage

December 16, 2020 by Greg Meckbach

When it comes to the hospitality sector, insurers’ risk appetites are constantly changing and underwriters are especially concerned about clients who get most of their revenue from alcohol, a managing general agent reports. “A broker has to spend a lot

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Regulator cautions brokers about sharing and storing client data

December 15, 2020 by David Gambrill

As the pandemic continues to plunge Canada’s property and casualty insurance industry deeper into the digital space, regulators are issuing ongoing reminders — and warnings — about how brokers are sharing and storing their clients’ personal data. Most recently, Peter

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Feeling more like a career counsellor than a broker these days? That’s not a bad thing.

December 14, 2020 by Adam Malik

Based on estimates of 160,000 Canadian small businesses at risk of closing due to the COVID-19 pandemic — or even as many as 225,000 closures, per the Canadian Federation of Independent Business — brokers have a part to play in

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The shift in how brokers are paid

December 12, 2020 by Jason Contant, Online Editor

Compensation models based on performance continue to rise in popularity. A look at what some brokerages are doing and why…

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The latest M&A news from BFL, NFP and Hub

December 11, 2020 by Jason Contant

A year-and-a-half after large commercial brokerage BFL Canada acquired Summit Insurance Brokers, the smaller British Columbia-based brokerage has officially been rebranded to BFL Canada Insurance Services Inc. “As of now, all the operations led in Central and Northern British Columbia

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Defying The Grinch may cost your clients home insurance coverage

December 11, 2020 by David Gambrill

Are your clients tempted to defy The Grinch who stole Christmas and have large holiday gatherings during the pandemic regardless of what public health orders might say? You might want to tell them about pandemic exclusions in their home insurance

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COVID’s impact on brokerage M&A: Myth versus reality

December 10, 2020 by Greg Meckbach

The onset of the COVID-19 pandemic made it difficult to raise money from major banks to finance mergers and acquisitions, but well-run brokerages will still be attractive to buyers, suggests an expert in brokerage valuation. “When COVID hit, the banks

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Western broker: Don’t chop off the head of oil industry

December 9, 2020 by Greg Meckbach

Although the impact of carbon emissions on climate is a major concern for carriers, western Canadian brokers are concerned about efforts to reduce Canada’s reliance on oil and gas. “Oil and gas is not going away any time soon, and

News BrokersClaimsCommercialInsurersProperty

Will Ontario’s new law result in a flurry of snow removal capacity?

December 9, 2020 by David Gambrill

On the day before heavy, wet snow and slush graced the streets of southern Ontario, the provincial government passed a law Tuesday that brokers believe will make it easier for them to find insurance coverage for snow removal contractors. The

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What underwriters can do to help brokers during a hard market

December 9, 2020 by Adam Malik

They say timing is everything, and that is particularly true of brokers working with underwriters. The earlier underwriters can tell brokers about the market challenges they are facing, what they deem to be an important part of a submission, and

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Editorial: Regulators, leave subscription policies alone

December 7, 2020 by David Gambrill

When it comes to regulating “Best Terms Pricing” in Canada, Canadians, politicians and insurance regulators be forewarned: Be careful what you wish for. Banning the practice in a hard commercial lines market could wind up making things worse for consumers,