Topic MGAs
Understanding cyberattack techniques can improve your game
September 20, 2021 by Canadian Underwriter StaffKnowing the most common cybersecurity attacks can help brokers better advise their clients on risk mitigation strategies, a Canadian cyber insurance provider has said. Selling cyber policies remains a concern for many brokers, who are struggling to keep up with…
How one MGA keeps employees moving — virtually
September 15, 2021 by Brooke SmithYou may not know the Mayo Clinic’s Dr. James Levine. But you’ve likely heard his now-famous phrase: “Sitting is the new smoking.” With many employees sitting in front of a computer in the comfort of their homes for the past…
Insurer, MGAs give employees more time off during pandemic
September 14, 2021 by Brooke SmithThe pandemic has spurred MGAs and one insurer to offer additional paid time off and be more generous with their vacation policies. AXA Group announced Sept. 7 that it was giving its 153,000 employees worldwide two additional paid days off…
Why and where Intact wants to buy more MGAs
September 12, 2021 by Greg MeckbachDon’t be surprised if Intact Financial Corp. buys managing general agents in the United States who place commercial specialty insurance. “We think there is a big opportunity at the MGA level. We are still focused on that,” Intact CEO Charles…
Brokers should focus on prevention in the cyber sales conversation, suggests MGA
September 9, 2021 by Canadian Underwriter StaffBrokers need to change the way they sell cyber insurance and focus on preventing cyberattacks in the first place, a cyber insurance provider suggests. A cyber claim can be terminal for a business, Vishal Kundi, CEO and co-founder of Toronto-based…
MGA’s program gives employees money to take time off
September 1, 2021 by Brooke SmithYou’re burning out. According to a June survey from Canadian Underwriter, 54% of P&C employees reported feeling at least some stress and burnout working from home. Human resources experts often recommend that employees use their vacation entitlement to recharge, but…
Why now is the time for brokers to talk about intellectual property insurance
August 27, 2021 by Jason ContantWhile the technology and life sciences sectors have been traditional areas of focus for intellectual property (IP) insurance, one specialist insurance provider says now is the time for brokers to open up discussions to include other industries. Maddi Brown, intellectual…
This line of business needs to be simplified, MGA says
August 24, 2021 by Jason ContantThe insurance industry needs to move forward and simplify intellectual property (IP) coverage for the small- and medium-sized enterprise (SME) market, a specialist insurance provider said. IP insurance typically involves long, complicated proposal forms, a fee charged to get a…
How Lloyd’s insurers will react to capacity reductions in Canada
August 16, 2021 by Greg Meckbach“Constant churn” helps restore some capacity withdrawn by syndicates, though not always at the same terms and conditions, Lloyd’s Canada’s new president suggests. “When capacity is scarce in one or more syndicates, other syndicates likely view this as an opportunity,”…
Why Intact has no intention of selling BrokerLink
August 4, 2021 by Greg MeckbachIf you knock on Intact’s door offering money to buy its BrokerLink subsidiary, prepare to get rejected. “You are far more likely to see us putting way more capital in [the property and casualty insurance brokerage] space than the other…
CEOs becoming easy targets of ‘spear-phishing’: cyber insurance provider
August 3, 2021 by Canadian Underwriter StaffWith C-Suite email credentials sold on the dark web for as little as $250 per user, Canadian CEOs could become increasing targets for “spear-phishing” attacks, a cyber insurance provider warns. The digital scam involves sending fraudulent emails from what appears…
Boom or bust: What MGAs are seeing in commercial lines
July 27, 2021 by Jason ContantWith many people still working from home, one marine underwriter has seen the pleasurecraft line of business “take off.” But that doesn’t mean it’s smooth sailing for marine underwriting. It can still be difficult finding capacity for small- or mid-sized…