Canadian P&C insurers have generally embraced the general principles of the Fair Treatment of Consumers (FTC), but the industry still has some work to do in specific benchmark areas, according to an annual statement on market conduct issued by the…
The onset of the COVID-19 pandemic made it difficult to raise money from major banks to finance mergers and acquisitions, but well-run brokerages will still be attractive to buyers, suggests an expert in brokerage valuation. “When COVID hit, the banks…
Intact Financial Corporation was holding focus groups on diversity and inclusion a few months ago, when a young manager of colour shared her experience with the insurer’s senior management. “She gave an example to us, which struck most of the…
Many brokers turned working from home into a success. What lessons can we take with us when we return to the office?
The industry continues to consolidate and pension funds are one major source of capital for insurers, a Montreal-based merger and acquisition expert observes. “One or two notable [carrier M&A] transactions per year has slowly transformed the Canadian landscape, including the…
Being able to collect better data regarding sales and customer behaviour are obvious reasons to upgrade the data system at your brokerage, but there are other benefits, Vancouver-based P&C insurance consulting firm Smythe Advisory said in a blog published Tuesday.…
Internal referrals made by successful employees are the top way brokerages are finding quality talent to add to their ranks, attendees of a recent webinar panel heard. When asked to discuss what strategies worked best to find talent, the three…
Aviva Canada CEO Jason Storah has no time for arguing about the validity of climate change and the threats facing the planet that are affecting the insurance industry. Instead of debates about climate change based on speculation and conjecture, he’d…
When COVID-19 was officially declared a pandemic nearly nine months ago, Jean-François Chalifoux was helping to lead the merger that formed Canada’s largest mutual insurer. “I was in Montreal March 12 [2020] and at 11:00 a.m. sharp, the [National Hockey…
Prime Minister Justin Trudeau pushed back against critics of his government’s COVID-19 vaccination plan with assurances most Canadians would be inoculated by September 2021, with a former NATO commander leading distribution. Trudeau announced Friday that Maj.-Gen. Dany Fortin will lead…
Improving diversity and inclusion (D&I) in insurance companies has a positive impact on the business above and beyond compliance and the reputation of the organization, speakers said recently at a virtual industry event. Some of the benefits include better talent…
As the pandemic enters its ninth month, risk managers are seeing more emphasis on the length of conversations and the importance of wearing proper masks. “The key thing now is the length of contact with somebody else. Right now, if…