Philomena Comerford, President, CEO, Baird MacGregor Insurance Brokers LP & Hargraft Schofield Deemed an essential service, most tech-savvy brokerages deftly pivoted to a remote workforce model when COVID shut down the economy in March. Necessity became the mother of invention.…
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…
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…
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…
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…
Compensation models based on performance continue to rise in popularity. A look at what some brokerages are doing and why…
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…
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…
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…
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…
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…
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…