Topic Operations
Tackling brokers’ Number 1 workflow pain point — eDocs
March 27, 2024 by David GambrillImagine a brokerage having to hire someone just to open electronic documents (eDocs) from insurance companies to find out what they’re about. And yet, that’s exactly what happens when insurance companies send eDocs to brokerages with catch-all titles such as…
How to keep cyber criminals from capitalizing on company culture
March 26, 2024 by Alyssa DiSabatinoHumans continue to be the weakest links when it comes to corporate cyber security, but companies looking to reduce phishing or ransomware attempts must first address their company culture, one expert tells Canadian Underwriter. Over the past two to…
Who’s getting squeezed in the brokers’ war for talent
March 19, 2024 by David GambrillA war for talent in Canada’s P&C insurance industry may be inadvertently causing collateral damage in smaller and mid-sized brokers, Traci Boland, Insurance Broker Association of Canada president, tells Canadian Underwriter. That said, their smaller size may allow them to…
Op-Ed | How to protect your team from abusive client behaviours
March 19, 2024 by Adam Mitchell, CEO of Mitch InsuranceI’m often asked about how we grew our business. There’s no hack to achieving success. If washboard abs are your goal, one sit-up won’t do it. You need to consistently put in the effort to see results.We’re all aware of…
How much P&C insurance underwriters earn in Canada
March 19, 2024 by Alyssa DiSabatinoSenior-level underwriters in Canada may earn as much as $130,000 or more in yearly salary, new research by Impact Recruitment shows. The P&C recruitment agency’s 2024 Insurance Salary Guide details pay ranges for underwriters and their assistants and breaks down compensation…
How quantum computing could impact risk management and claims
March 18, 2024 by Jason ContantQuantum computing’s impact on P&C insurance operations will be wide-ranging, say several sources who spoke with CU. Almost every sector and department of the industry could be affected, including actuarial, risk management and underwriting teams, data analytics, IT, claims processing,…
Ex-broker suspended for misusing client’s credit card
March 13, 2024 by David GambrillA former B.C. broker has been suspended for three years after making unauthorized purchases on a client’s credit card, the Insurance Council of B.C. has ruled. The province’s broker regulator ordered the suspension in February 2024, after finding that Maninder…
Staying on the right side of Quebec’s language law, Bill 96
March 7, 2024 by David GambrillCanada’s property and casualty insurance industry is advised to establish a policy and train employees to comply with Bill 96, Quebec’s French language law, which calls for all policy contracts with clients in the province to be done in French…
How Aviva Canada fared in 2023
March 7, 2024 by Jason ContantAviva Canada ended 2023 with an undiscounted combined operating ratio (COR) of 95.3% and double-digit growth in gross written premiums, despite challenging market conditions that included increased weather-related losses and heightened auto theft. The undiscounted ratio for 2023 was up…
How to use your brokerage’s data to gain and retain clients
March 4, 2024 by Alyssa DiSabatinoFinding ways to harness your brokerage’s data can improve customers’ expectations and overall satisfaction rates, two brokerage heads shared at the Insurance Canada Technology Forum in Toronto. For example, brokerages tracking and taking action on their internal metrics will…
Vehicle warranties: Auto insurers don’t owe premium tax on dealer’s fees
February 29, 2024 by David GambrillAn insurer doesn’t owe provincial premium tax on auto dealer’s fees charged for vehicle equipment warranties, the Supreme Court of B.C. has ruled. Vehicle equipment warranties are commonly sold at auto dealerships. Customers pay for vehicle warranty policies as part…
Navacord’s first deal of the year
February 29, 2024 by Jason ContantCommercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance. Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press…