Topic Operations
New senior executive for two major P&C brand names
November 2, 2022 by Jason ContantInsurance industry veteran Guy Lecours has been appointed chief operating officer of L’Unique and Unica, effective Nov. 21. Christian Fournier, executive vice president and lead of property and casualty insurance at Beneva, announced the appointment Wednesday. Lecours succeeds Yves Gagnon,…
How acquisitions help P&C brokers boost cross-selling options
October 28, 2022 by Philip PoradoSeveral Canadian commercial P&C brokerages are actively acquiring wealth management, retirement planning and employee benefits firms so they can boost revenues by adding to their product ranges. The simple math suggests a larger product suite — one that brings in…
Mapping your customer’s journey? Try the same with your employees
October 27, 2022 by David GambrillMonitoring your company’s systems and processes, as opposed to monitoring the work output of your individual employees, may be the answer to boosting your company’s productivity by 9% to 10% annually, suggests a new article by Harvard Business Review. A…
Communication around claims must be top priority: CEOs
October 24, 2022 by David GambrillSupply chain pressures and labour shortages mean Canada’s P&C industry and its suppliers need to focus on communications around claims service to maintain consumer trust and high service levels, insurance executives told a broker conference last week. Matthew Turack, group…
How Lloyd’s broke the bottleneck for Canadian MGAs
October 21, 2022 by Jason ContantEditor’s Note: This article has been revised to clarify the rules around continuous binding authorities emanating from Lloyd’s. Managing general agents (MGAs) with a binding authority contract from Lloyd’s — and where the capacity under the contract is provided…
Canadian P&C brokerage M&A explodes in late 2022
October 13, 2022 by Jason ContantP&C brokerage merger and acquisition activity in Canada remains strong and healthy, as evidenced by the number of deals announced in just the past couple of weeks. Those deals involve brokerages that include Westland Insurance Group, BrokerLink, Western Financial Group,…
Definity acquires majority stake in an Ontario brokerage
October 7, 2022 by Jason ContantDefinity Financial Corporation has increased its ownership interest in Ontario-based brokerage McDougall Insurance from approximately 25% to 75%, “building a broker partnership with proven M&A expertise.” The partnership is for a cash consideration of $217 million (subject to post-closing adjustments),…
Where DEI training doesn’t work
October 6, 2022 by Alyssa DiSabatinoIncorporating diversity, equity and inclusion (DEI) successfully into the workplace has to come from a genuine desire to improve a workplace culture rather than as a way to check boxes, speakers said in a RIMS Canada Conference panel discussion. “Often…
Do your clients really want digital delivery of insurance documents?
October 5, 2022 by Jason ContantMore than half of your clients want to receive their insurance documents in paper format, according to extrapolated results of Insurance Brokers Association of Ontario’s (IBAO) Going Paperless project. “It’s not a slam dunk – just because somebody wants to…
Regulating business culture. A “solution in search of a problem?”
October 4, 2022 by David GambrillIn what lawyers are calling a “solution in search of a problem,” Canada’s solvency regulator is seeking input from the Canadian property and casualty insurance industry on how to regulate business culture. “I feel like this culture conversation in Canada…
How changing bond yields can help insurers fill their coffers
September 30, 2022 by Canadian Underwriter StaffBond investments make up a large percentage of insurance companies’ investment portfolios. And bond investors have faced challenges throughout 2022, with rising yields causing returns to lag at historic levels, Michael Cook, vice president, client relations & LDI client portfolio…
Why risk managers are feeling a sense of urgency
September 29, 2022 by Jason ContantThe COVID-19 pandemic has changed the business and risk landscape dramatically over the past couple of years and created a sense of urgency to spread risk knowledge and education, the new CEO of RIMS said in an interview with Canadian…