Topic Brokers
How and where brokerages can find their next hire
February 11, 2022 by Alyssa DiSabatinoThe ongoing war for talent, coupled with the Great Resignation, has forced brokerages to shift their mindset on how they find and recruit talent. And that includes reaching out directly to suitable candidates on social media. Brokerages must begin to…
Challenging market conditions remain for these two lines in Canada
February 10, 2022 by Jason ContantMarket conditions for cyber and directors’ and officers’ (D&O) lines of business remain challenging in Canada, according to Aon plc’s latest quarterly Global Market Insights Report. Aon’s report for the fourth quarter of 2021, released Wednesday, emphasizes how new forms…
Wildfire costs show need for preventative measures
February 9, 2022 by Greg MeckbachNatCat costs from summer 2021’s B.C. wildfires reached $77 million in insured damage in White Rock Lake and $78 million in Lytton. With renovations adding value to homes, and by extension insurable damage risk, it may make sense to encourage…
Is M&A growth better than organic growth?
February 9, 2022 by Alyssa DiSabatinoWhen it comes to expanding your brokerages business, M&A may not always be better than organic growth, said panellists during a Canadian Underwriter webinar on Feb. 8. Doug Morrow, CEO and managing partner, Excel Insurance Group, sent a plea…
Westland’s newest brokerage acquisition
February 3, 2022 by Canadian Underwriter StaffWestland Insurance Group has continued its expansion spree, today announcing acquisition of Campbell, Roy & Eldridge Insurance Services. Markham, Ont.-based Campbell, Roy & Eldridge offers a wide range of coverages, including home, condo, auto, RV, motorcycle, boat, watercraft, business, trucking…
Large Quebec brokerage rebrands itself
January 31, 2022 by Alyssa DiSabatinoLussier Dale Parizeau, Quebec’s largest brokerage, has unveiled its new corporate name. The firm will now be known as Lussier and will carry a new brand image, the brokerage announced in a press release Monday. “This change is consistent…
Brokerage launches new specialty entity
January 28, 2022 by Jason ContantBrokerage Wilson M. Beck Insurance Services (WMB) has officially opened the doors to a new specialty entity in Vancouver. Wilson M. Beck Insurance Services (Specialty) Inc., or WMB Specialty, will operate as a commercially-focused insurance brokerage as part of the…
Customers rank P&C industry’s winners and losers during COVID
January 25, 2022 by David GambrillCOVID-19 has shown that Canadians appreciate insurance agents and brokers with good attitudes and product knowledge. But insurance companies are still struggling with basic service issues like phone wait times, billing/payment, and policy cancellation, according to an analysis of more…
Canada’s most popular brokerage M&A models
January 24, 2022 by Jason ContantPrivate equity-backed brokerages that acquire 100% of a brokerage and then offer the ability to roll over some equity continue to be Canada’s most popular M&A model, but others are gaining traction, a P&C transaction advisor says. “While obtaining markets…
Clients likely unaware of criminal websites pretending to sell P&C coverage
January 21, 2022 by Greg MeckbachScam artists who set up websites impersonating home and auto insurance brokerages could be taking advantage of uninsured motorists, a former brokerage owner says. In theory, the industry can try to block access to websites operated by unlicensed miscreants purporting…
Looking to sell your brokerage? Here’s what to ask yourself first
January 21, 2022 by Jason ContantWhen it comes to selling your brokerage, timing is everything. Principals considering selling their brokerage should always ask themselves when is the best time to exit in terms of career and family situation, and then work backwards to plan from…
Behind the hard-hit condo insurance market in B.C. and Alberta
January 20, 2022 by Jason ContantWood frame construction for stratas, increased building material costs, and earthquake exposure in British Columbia contributed to the skyrocketing condo insurance premiums that hard market sector saw over the past few years, an Aon executive says. “There’s a lot more…