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WTW names head of personal lines for Canada, U.S.

January 10, 2024 by Jason Contant

Large brokerage WTW has appointed Despina Buganski as head of personal lines for its Corporate Risk & Broking division for North America (CRB NA). Effective immediately, both WTW’s Canadian and U.S. personal lines teams will report directly to Buganski, the

Training people for success
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How firms are training tomorrow’s talent

January 8, 2024 by Alyssa Di Sabatino

Intermediate and senior underwriting positions are opening up across the industry. That has firms looking for ways to cultivate junior underwriters into successive roles. The issue, though, is that learning curves can be steep for new hires. Up-and-coming underwriters are

Bearded man comfortably sitting on a coach reading a book and holding his dog .
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How can you be a better leader? Forget about work after quitting time

January 5, 2024 by David Gambrill

Employees deem leaders who psychologically detach from work when they aren’t in the workplace as more powerful and engaged in the office, new research shows. “We found that when leaders psychologically detached from work when at home – they did

Signing a new contract
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Why broker commissions are going down

January 3, 2024 by David Gambrill

Broker commissions in Canada’s property and casualty insurance industry were down by about 5% to 7% in personal lines last year, as noted in the Canadian Council of Insurance Regulators’ 2022 Annual Statement on Market Conduct Public Report. In personal

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The down low on D&O risk in 2024

December 18, 2023 by Alyssa DiSabatino

Clients will benefit from competitive market pricing for directors and officers (D&O) insurance in 2024, but can expect underwriting discipline to return, says Allianz Commercial’s D&O insurance report.  Of particular concern is inadequate responses by company directors and officers to

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Why most of your commercial clients are underinsured by at least 30%

December 12, 2023 by Jason Contant

Accurate valuation and occupancy data points remain top challenges for commercial broker submissions, according to Greg McCutcheon, president of Canada’s largest property data provider, Opta Information Intelligence.  In this inflationary environment, keeping up with valuations and ensuring commercial property brokers

Merger and acquisition business concept
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MGA acquires Echelon’s surety division

December 11, 2023 by Jason Contant

Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division.  “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,

Digital puzzle pieces; digital M&A concept
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Private equity firm acquires digital brokerage

December 8, 2023 by Jason Contant

Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.

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What Canadian risk managers earned in 2023

December 7, 2023 by Alyssa DiSabatino

Canadian risk managers earned a median annual base salary of $122,000, according to a recent Risk Management Society (RIMS) survey. This accounts for a 1.6% increase from $120,000 in 2021, when RIMS last conducted this survey.  However, the salary for Canadian

Business leader press a mergers and acquisitions holographic button
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U.S.-based insurance provider to acquire Sutton Special Risk

December 6, 2023 by Jason Contant

New York-headquartered insurance services provider Amynta Group has entered into a definitive agreement to acquire specialty insurance managing general underwriter (MGU) Sutton Special Risk Inc. “The acquisition of Sutton expands Amynta’s offerings in the accident and health market and accelerates

Diversity in the office
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Is your board looking at their own diversity?

December 5, 2023 by Jason Contant

It’s no longer sufficient for insurance industry board members to talk about diversity across the organization — boards need to actively look at their own diversity and address any gaps, KPMG suggested in a recent thought leadership piece.  “To build

Financial volatility
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How P&C investment returns will impact carriers in 2024

December 5, 2023 by Alyssa DiSabatino

While repricing risk has no doubt helped P&C insurers improve profitability, investment returns driven by a higher interest rate environment are increasing insurers’ profits globally, a new Swiss Re sigma report shows.  And yet, most carriers will not earn their