Topic Brokers
One essential thing required for condo premium relief
November 10, 2020 by Adam MalikClients don’t always know the process when they have to report a condo insurance claim, and a number of property and casualty insurance professionals believe education of condo managers and boards is key to turning around the hard market in…
Broker suspended for passing off client’s cancelled vehicle plates as his own
November 10, 2020 by David GambrillA B.C. broker has been suspended for two years and fined $1,000 for passing off a client’s cancelled vehicle license plates as his own, giving the appearance that his vehicle was insured when in fact it wasn’t. Ping Hong (Gary)…
Intact sets 50% growth target for BrokerLink
November 10, 2020 by Greg MeckbachIntact Financial Corp. is aiming to grow its brokerage subsidiary to a $3-billion-a-year operation, CEO Charles Brindamour told investment banking analysts recently. “BrokerLink recently surpassed $2 billion in premiums as it continues to grow organically and through acquisitions,” Brindamour said…
How long will the haul be for Canada and the pandemic?
November 9, 2020 by Adam MalikA second wave of the COVID-19 pandemic is gripping parts of Canada and it will likely be well into next year until we come out of it, an expert predicts. And the longer things drag on, the worse it bodes…
Brokerage M&A round-up: Which four were bought?
November 9, 2020 by Jason ContantBritish Columbia-based Westland Insurance Group Ltd. has moved into the Ontario market, announcing that it has acquired Gillons Insurance Brokers Ltd. The “significant and substantial milestone” supports Westland’s expansion strategy to become a national insurance brokerage, the brokerage said when…
Culture change needed to mitigate condo losses: Aviva exec
November 6, 2020 by Adam MalikAs capacity for condo insurance shrinks and premiums continue to mount, property managers and condo boards will find greater success with underwriters if they can show they are embedding responsibility for risk management and mitigating losses into their corporate culture,…
Why the impact of an Intact-RSA combo would vary by province
November 6, 2020 by Greg MeckbachThings could get interesting for brokers in Atlantic Canada if Intact takes over RSA’s Canadian operations, a Saskatchewan broker told Canadian Underwriter Friday. That being said, he felt if the proposed deal announced Thursday goes through, it would still leave…
Overcoming barriers to tech innovation: ‘If you don’t build it, they will leave’
November 5, 2020 by David GambrillIn the 1989 hit movie Field of Dreams, starring Kevin Costner, 36-year-old Ray Kinsella is wandering through his cornfield one evening when he hears a voice whispering, “If you build it, he will come.” In this instance, “he” refers to…
The price you pay for a lack of diversity
November 5, 2020 by Adam MalikIf your brokerage lacks diversity, you may not only be missing out on growth opportunities, but you also are setting yourself up for bad hires, bad decision-making, and reputational harm, a keynote speaker recently told Ontario brokers. Organizations lacking diversity…
When to not hire for soft skills
November 4, 2020 by Adam MalikA common adage around the insurance industry is to hire for soft skills and teach the technical stuff later. While that’s still mostly true among brokerage leaders taking part in a recent panel, one noted that there are times when…
IBC talking to feds about future pandemic risk transfer
November 2, 2020 by Greg MeckbachThe Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the…
What industry experts think of pandemic auto rebates
October 30, 2020 by Adam MalikInsurance companies responded well and appropriately to the COVID-19 pandemic in terms of assisting customers by way of premium relief and other measures, according to industry experts. Canadian Underwriter recently checked in with insurers on the current status of relief…