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The downside of selling for 4 times multiple during COVID

October 23, 2020 by Greg Meckbach

Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15

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Digital brokers: Should you build your own tech, or buy someone else’s?

October 22, 2020 by David Gambrill

Okay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers

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40-year industry vet discusses his take on tech: Does it help or hinder?

October 20, 2020 by Greg Meckbach

When Bob Tisdale started his insurance career in the late 1970s, his employer at the time was just starting to adopt computers. “A lot of people at the time predicted that that was going to be the end of everybody’s

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Compensation during COVID: Broker principals reveal their favourite way to pay producers

October 16, 2020 by David Gambrill

In the dog-eat-dog world of trying to generate sales during a global pandemic, brokerage principals are increasingly turning to performance-based compensation to help improve the performance of their brokers, according to Canadian Underwriter’s 2020 National Broker Survey. Of the more

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What Canada’s Supreme Court says about employers’ liability for bonuses

October 15, 2020 by Greg Meckbach

A constructive dismissal award against a Halifax-based fish oil maker of nearly $1.1-million has been restored by the Supreme Court of Canada. When it comes to employment practices liability, a key lesson from Matthews v. Ocean Nutrition Canada Ltd., released

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The business case for diversity and inclusion at a brokerage

October 9, 2020 by Greg Meckbach

If you truly want to connect with your customers, your organization must be diverse, an industry consultant suggests. “There is room for improvement in corporate Canada, not just in property and casualty insurance, in ensuring women, visible minorities and people

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Are you burned out and mentally strained? The club is growing

October 8, 2020 by Adam Malik

Employees across Canada are feeling more burned out now than they were a year ago, according to one survey, while other reports highlight mental health challenges as the COVID-19 pandemic drags on. Professionals report that they are drowning in work

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Fairfax welcomes back former Canadian governor general to its board

October 5, 2020 by Greg Meckbach

Fairfax Financial Holdings Ltd. announced Monday that former Governor General of Canada David Johnston is back on its board of directors. Johnston had to step down from the Fairfax board when he became Governor General of Canada in 2010, the

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We need to talk…

October 4, 2020 by David Gambrill, Editor in Chief

Based on recent consumer research and brokers surveys, Canadian Underwriter has identified three crucial topics of conversation to help brokers forge stronger bonds with their clients

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‘We have a lot of work to do’

October 3, 2020 by Greg Meckbach, Associate Editor

How can the Canadian P&C industry ensure its workplaces reflect the communities they serve? We asked senior industry executives what can be done to make sure everyone feels respected and valued, regardless of demographic factors such as gender, skin colour, sexual orientation or gender identity. Here’s what they told us….

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Doubling down on specialty

October 2, 2020 by Greg Meckbach, Associate Editor

Bernard McNulty, Allianz Global Corporate & Specialty’s new chief agent for Canada, explains the impact of the pandemic and what changes may be in store

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Brokerage M&A roundup: Westland and BrokerTeam announce deals

October 2, 2020 by Greg Meckbach

Westland Insurance Group and BrokerTeam Group have both announced separate deals this past week. Westland Insurance Group Ltd. acquired two Alberta brokerages, effective Oct. 1. Surrey, B.C.-based Westland announced Friday it closed the acquisition of Carstairs, Alta.-based Ironside Insurance Brokers