Where would you like to leave things? It’s a critical question for Canada’s property and casualty (P&C) brokers, especially given the seniority of brokers represented in Canadian Underwriter’s 2024 annual National Broker Survey. More than 200 brokers nationwide shared views…
Fixing the labour shortage plaguing Canada’s P&C insurance industry is officially Job 1 for the broker channel, Canadian Underwriter’s 2024 National Broker Survey shows. Failing to do that, survey respondents say, puts brokerages at risk of sustaining collateral damage in…
Lloyd’s Canada president and attorney-in-fact Marc Lipman has been appointed president of Lloyd’s Americas, effective Sept. 1. Lipman, former chief operating officer of AIG Canada, joined Lloyd’s Canada in June 2020. “Under his leadership, Lloyd’s Canadian business has been reinforced…
Who are you going to hire? It’s a key question as Canada’s property and casualty (P&C) insurance brokers look to simultaneously broaden diversity within their teams and solve a hiring crisis that’s persisted for nearly a decade. One way firms…
Varying assumptions underlying the reporting of combined ratios by Canadian P&C insurers — a longstanding measure of company profitability — have, under IFRS-17 rules, undermined the intent of the new accounting standards, industry executives say. The issue bubbled to the…
Getting the basics right can help an organization improve its cybersecurity posture, a former intelligence officer at the Canadian Security Intelligence Service (CSIS) said during an industry event Thursday. Three basic strategies — mitigate, separate and positive control — can…
Quebec brokerages PMA Assurances and PMT ROY Assurances et services financiers have merged under the name Ellipse Agence en assurance de dommages inc., creating what the firm is calling the province’s largest damage insurance agency distributing Intact Insurance products exclusively.…
BrokerLink aspires to increase its direct premiums written (DPW) by more than $1 billion over the next year-and-a-half. In 2023, BrokerLink surpassed $3.5 billion in DPW. “Our ambition is to be $5 billion by the end of 2025,” president Joe…
Three-quarters of brokers believe their organizations must address diversity to be a successful business. Yet, this number is waning — from 91% in 2022 to 84% in 2023, and to 75% in 2024, according to a recent Canadian Underwriter survey.…
Cloud-based services can serve as a much-needed speed accelerator to the Canadian P&C insurance industry, eliminating friction and digitizing the customer experience, speakers said Thursday at the 2024 CIP Society Symposium in downtown Toronto. “I personally think the biggest threat…
Gravity brought financial results for Canada’s property and casualty insurance industry back down to Earth in 2023, despite a rebound to pre-pandemic investment returns. “As we predicted last year at this time, the abnormally high industry returns for 2021 and…
A polarized social and political climate means one-third of employees at P&C brokerages across Canada avoid conversations about controversial subjects while at work, Canadian Underwriter’s 2024 Brokerage DEI survey finds. The survey asked respondents about numerous aspects of diversity, equity and inclusion…