Topic Brokers
Municipal insurers heading for the exits, broker exec reports
May 11, 2021 by Adam MalikA decade of sliding down a slippery financial slope has prompted insurers to run for the exits in the municipal insurance line of business. A number of companies have exited the market, with more possibly to follow, leaving brokers with…
Merger mania: Multiple brokerage deals announced in May
May 11, 2021 by Jason ContantMay 2021 came in with a bang for Canadian brokerages involved in mergers and acquisitions activity, particularly in western Canada and Ontario. Over the course of a week, at least seven acquisitions were announced in the Canadian P&C brokerage space.…
The Number 1 challenge facing Canada’s broker channel
May 11, 2021 by David GambrillOut of all the challenges facing the broker channel right now, the hard market is the biggest one of them of all, according Canadian Underwriter‘s 2021 National Broker Survey. Seventy-four per cent of Canadian P&C insurance brokers who responded to…
Broker strategies for making it through the hard market
May 11, 2021 by David GambrillBrokers are currently caught between a pandemic and a hard market, with several insurers predicting that Canada’s hard market cycle in property and casualty insurance will last at least one or two more years beyond the end of the pandemic.…
Brokers cut insurers some slack during the pandemic
May 11, 2021 by David GambrillBrokers appear to be cutting their insurer partners a bit of slack during the pandemic, with more brokers agreeing this year that insurers are striking a fair balance between the interests of carriers and brokers. Over the past three years,…
In the hard market, are you selling on price or coverage?
May 11, 2021 by David GambrillPrice point and carrier capacity have become increasingly important factors for brokers in recommending insurance coverage to their clients over the past year, according to Canadian Underwriter’s 2021 National Broker Survey. Canadian Underwriter asked 234 Canadian P&C insurance brokers across…
The ‘perfect way’ for insurers to put capital back into the marketplace
May 10, 2021 by Greg MeckbachThe hard market in commercial lines has caused some managing general agents to lose some products, yet more insurance is still being placed through MGAs, panelists told brokers listening to a recent webinar. “I think it’s a perfect way for…
Brokerages will need these new skill sets
May 10, 2021 by Greg MeckbachTo compete in a digital world, the insurance industry needs to hire data scientists and computer programmers, Virtual Symposium B.C. attendees heard last week. “Every insurance organization is going to look at new roles that they never had before,” said…
Where MGAs could find new capital as Lloyd’s limits capacity
May 8, 2021 by Greg MeckbachWith some commercial coverages becoming harder to place in the hard market, reinsurers are looking to distribute through managing general agents, Virtual Symposium B.C. attendees heard Thursday. “I had two meetings today with two separate reinsurers who are very interested…
Intact-RSA deal awaits final clearance for takeoff on June 1
May 6, 2021 by David GambrillIntact Financial Corporation and Dutch insurer Tryg A/S have received all anti-trust and regulatory approvals for the acquisition of RSA Insurance Group plc, setting the stage for closing the mega-merger within a month. The last items remaining on the to-do…
Putting the ‘casual’ into business casual: Has it gone too far?
May 6, 2021 by Adam MalikDoes your boss show up for a video conference in a hoodie? How many times during the pandemic have you seen a cat stroll across the screen during a video meeting? Or heard children fighting in the background? Most have…
‘Pandamennial’ careers take a nosedive: Why the industry should help
May 5, 2021 by Adam MalikGlobal events have delayed the career development of young insurance professionals and the P&C industry needs to figure out how to help, risk manager execs said during the recent RIMS Live 2021 virtual conference. Colleen Zitt, chief risk officer at…