TORONTO – Restaurant owners say they are concerned about operations as federal subsidies begin to wind down, even as provinces like Ontario extend stay-at-home or lockdown measures. Restaurants Canada is seeking an exemption from the federal government’s scheduled phase-out of…
A corporate diversity, equity and inclusion (DE&I) program is essential because it’s driving business innovation, which is a competitive advantage, risk managers heard during a recent web conference. Carla Harris, vice chairman and managing director of Morgan Stanley, spoke at…
Arthur J. Gallagher & Co. has announced an agreement to acquire certain Willis Towers Watson reinsurance, specialty and retail brokerage operations as part of a proposed “regulatory remedy” for the pending Aon and Willis Towers Watson deal. Under the agreement,…
As business leaders await an easing of pandemic lockdown restrictions, Aon Plc executives suggest that, going forward, they plan to apply the lessons they’ve learned during COVID-19 regarding collaboration. “We are going to be smart about how we do [travel…
May 2021 came in with a bang for Canadian brokerages involved in mergers and acquisitions activity, particularly in western Canada and Ontario. Over the course of a week, at least seven acquisitions were announced in the Canadian P&C brokerage space.…
Brokers are currently caught between a pandemic and a hard market, with several insurers predicting that Canada’s hard market cycle in property and casualty insurance will last at least one or two more years beyond the end of the pandemic.…
Brokers appear to be cutting their insurer partners a bit of slack during the pandemic, with more brokers agreeing this year that insurers are striking a fair balance between the interests of carriers and brokers. Over the past three years,…
To compete in a digital world, the insurance industry needs to hire data scientists and computer programmers, Virtual Symposium B.C. attendees heard last week. “Every insurance organization is going to look at new roles that they never had before,” said…
Open banking rules could help create a level playing field between technology companies and the insurance industry, speakers suggested at a recent virtual conference. Bringing in “consumer-directed finance” will help consumers benefit from a broader range of financial products and…
Collectivfide Insurance Group Inc. has finalized the acquisition of Barrie, Ont.-based multiline broker RK Mooney Insurance Brokers Ltd., the fourth brokerage acquisition for Collectivfide, a company formed in 2019. Collectivfide’s shareholders represent mutual insurers in Ontario and across Canada. Although…
The industry could potentially evolve towards an “open insurance strategy,” similar in concept to open banking, whereby consumers allow third parties access to their insurance data, an insurtech CEO suggests. In Europe, open banking gives consumers access to their banking…
The parent company of Northbridge Insurance took a stand against cutting staff due to the pandemic. “One of the things we did last year is we said [to the president of each Fairfax-owned insurer], ‘You cannot use COVID-19 as a…