Topic Commercial
Doubling down on specialty
October 2, 2020 by Greg Meckbach, Associate EditorBernard McNulty, Allianz Global Corporate & Specialty’s new chief agent for Canada, explains the impact of the pandemic and what changes may be in store
The rise (and fall?) of specialization
October 1, 2020 by David Gambrill, Editor in ChiefSpecialization continues to be a major growth strategy for brokers, as our third annual National Broker Survey shows. But has the pandemic exposed the limits to specialization…?
Expectations and relevancy: What’s at risk for the P&C industry
September 30, 2020 by Adam MalikIf the property and casualty insurance industry doesn’t “come to grips” with meeting client needs, the industry is at risk of losing relevancy in the marketplace, warned an industry consultant. Phil Cook, who is also chairman of Omega Insurance Holdings,…
Intact warns of indirect economic impact from COVID
September 29, 2020 by Greg MeckbachThe economic impact of the COVID-19 pandemic is one of the biggest risks facing Canadian insurers, executives told a recent investors’ conference. “What can happen to us is what we call indirect losses,” Intact Financial Corp. CFO Louis Marcotte said…
Mud + snow tires count as winter tires: Tribunal
September 28, 2020 by Greg MeckbachBritish Columbia’s civil resolution tribunal has ruled against a motorist who claims the car he rented did not have proper winter tires because they were marked “mud + snow,” but the motorist is not liable for alleged damage to the…
‘Bold and underline that’ — What this Aon exec says is the top reinsurance issue
September 25, 2020 by Adam MalikSocial inflation is the top item of concern for an Aon reinsurance executive, even if it’s an issue being exacerbated in the United States rather than in Canada. “I would bold and underline that — that is, I think, the…
What you need to do to get your client’s submission approved by underwriters
September 24, 2020 by Adam MalikBrokers need to pay close attention to the quality of submissions they make on behalf of clients to underwriters because the smallest missing detail can be the difference in whether or not the application is approved. Underwriters are swamped these…
Winners and losers of the COVID-19 quarter
September 24, 2020 by David GambrillAlthough COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one…
How Canadian courts could be influenced by U.K. business interruption test case
September 23, 2020 by Greg MeckbachA recent British court ruling could be good news for Canadian clients who bought insurance covering business interruption from an occurrence of a notifiable disease within a specified distance of their premises, and who had to close due to the…
One broker’s bold prediction about contactless payment options
September 21, 2020 by Greg MeckbachConcerns over the risk of COVID-19 transmission could accelerate the changes that technology has been bringing to financial transactions, including contactless payment options, a commercial broker suggests. “Financial services are changing very quickly,” said Mark Morency, senior vice president and…
How Northbridge is advising clients to prepare for second COVID-19 wave
September 18, 2020 by Greg MeckbachOne key component of preparing for the anticipated second wave of COVID-19 cases in Canada is for businesses to assess how they responded to the first wave of the disease, Northbridge Insurance is telling its commercial clients. “Many businesses that…
Veteran brokers are seeing their first-ever hard market. What they need to know.
September 18, 2020 by Greg MeckbachBrokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests.…