Topic HR
ICBC announces new president and CEO
May 1, 2023 by Jason ContantInsurance Corporation of British Columbia’s (ICBC) board of directors has appointed David Wong as its new president and CEO, effective May 15. Wong, a chartered professional accountant, will join ICBC following years of experience at the province’s power utility, BC…
Brokers optimistic about growth, but support for 2 key M&A strategies declines
May 1, 2023 by Philip PoradoWhile property and casualty (P&C) insurance brokers in Canada said they’re optimistic about the future, Canadian Underwriter‘s 2023 National Broker Survey shows declining support for two key brokerage growth strategies, including M&A. When asked about expected financial performance in 2023,…
What our 2023 survey says about broker job satisfaction
May 1, 2023 by Philip PoradoBeyond recruiting challenges, data from Canadian Underwriter’s 2023 National Broker Survey show retention will continue to be a major issue for property and casualty (P&C) insurance brokers this year. The survey, answered by more than 150 brokers nationwide, asked about…
Why the P&C broker talent crunch won’t end soon
April 28, 2023 by Philip PoradoWhile the hard market’s still a huge challenge for Canada’s broker distribution channel in 2023, finding qualified workers was also top concern for brokers. So said more than 150 nationwide respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey,…
How brokers can protect clients from ESG and DEI claims risk
April 25, 2023 by Philip PoradoBrokers placing directors and officers (D&O) insurance coverage should recognize the growing importance of how private company clients manage both environmental, social and governance (ESG) and diversity, equity and inclusion (DEI) concerns. Those issues are of increasing concern to the…
Why ‘reverse mentoring’ is better than mentoring
April 25, 2023 by David GambrillMentoring up, or ‘reverse mentorship,’ in which managers learn as much from employees as employees learn from their managers, is fast becoming a topic of conversation in a P&C industry characterized by significant gaps in age and professional experience. “I’m…
Navacord makes largest acquisition of the year
April 24, 2023 by Jason ContantNavacord has made its fifth and largest transaction of the year with the acquisition of British Columbia-based SeaFirst Insurance Brokers, effective Apr. 1. With roots dating back to 1950, SeaFirst Insurance has since grown to one of the largest commercial…
How brokerages are attracting and retaining key diverse talent
April 24, 2023 by Alyssa DiSabatinoBringing new talent through the doors is a priority for brokerages nationwide, said 322 respondents to a recent Canadian Underwriter online survey. About two-thirds (71%) of brokers, reporting all levels of diversity within their senior leadership, have seen at least some…
Why the industry needs to stop saying they “fell” into insurance
April 20, 2023 by Alyssa DiSabatinoIf you asked a room of insurance professionals how they got into the business, they’ll probably tell you they “fell into it.” But the industry is doing itself a disservice by being so “self-deprecating,” suggested Rob Marsh, president of Liberty…
Why DEI plays into broker employee satisfaction — and turnover
April 17, 2023 by Alyssa DiSabatinoAmid a shortage of P&C industry talent, brokerages should heed the fact there may be a subtle risk to failing to address diversity — employee attrition. Brokers working in organizations without diversity in senior leadership are three times more likely to…
Meet WTW’s new North America Proposition Leader
April 17, 2023 by Jason ContantLaura Doddington has been appointed as WTW’s new North America Proposition Leader, the commercial brokerage announced Monday. Based in Toronto, Doddington will be responsible for pricing, product, claims and underwriting (PPCU) personal lines for WTW’s Insurance Consulting and Technology business.…
What financial uncertainty may mean for D&O claims
April 12, 2023 by Philip PoradoPrivate companies, including not-for-profits, face rising legal and other exposures from lenders and private investors, customers and employees that can impact Directors & Officers (D&O) insurance policies. And, over the past three years, economic volatility has emerged as a key…