Canadian Underwriter

Topic Operations

Business merger and acquisition concept
News BrokersCommercialMergers and AqcuisitionsMGAsOperationsQuebec

Behind the scenes of an aggressive brokerage consolidator

August 19, 2022 by Jason Contant

Synex Business Performance plans to end this year with more than $1 billion in premium, a far cry from its humble beginnings of $3 million in premium just seven years ago. Currently, the Quebec City-based holding company has about $800

Paying a ransomware demand
News ClaimsCommercialCyberOperationsTechnology

Before paying a ransom, hacked companies should consider their ethics and values

August 18, 2022 by The Canadian Press

Michael Parent, Professor, Management Information Systems, Simon Fraser University – THE CONVERSATION   The recent cyberattacks in August on Bombardier Recreational Products and the Ontario Cannabis Store highlight the continuing scourge of cyber criminals and ransomware. Ransomware is a piece

Malware detected on a computer
News ClaimsCommercialCyberOperationsTechnology

Ski-Doo maker ramping up operations after cyberattack forced suspension

August 16, 2022 by The Canadian Press

VALCOURT, Que. – BRP Inc. says it is ramping up production at four of its factories after a cyberattack brought its operations to a halt earlier this month. The Ski-Doo and Sea-Doo maker says manufacturing sites in Valcourt, Que., Sturtevant,

Sea of hands symbolizing teamwork
News HRManagementOperations

Employee engagement: managers need support, too

August 15, 2022 by Jason Contant

Managers are in the best position to help their employees’ social and emotional needs in the hybrid workplace, but managers themselves need more support, too, said a recent blog from Harvard Business Review. In this hybrid work world, it can

A young businesswoman using a laptop and looking stressed out
News BrokersEmerging RisksHROperations

‘Quiet quitting.’ Are your brokers at risk?

August 9, 2022 by Jason Contant

High stress is one reason a broker might choose to leave the industry, but employers should be aware of another phenomenon affecting the broader working community today – ‘quiet quitting.’ Quiet quitting is silent withdrawal from the overbearing pressure of

Front part of a damaged car
News ClaimsInsurersLegalOperationsPersonal Auto

Aviva’s Project Bumper: Car repairers lose challenge to FSRA’s cease and desist order

August 5, 2022 by David Gambrill

Correction and Clarification Notice: The following article has been updated to correct errors contained in the originally published version of this story. First and foremost, FSCO’s proposed cease and desist order was not in effect at the time the Wardas

Poles measuring high water marks in a lake
News InsurersLoss ControlOperations

Was 2021 a high-water mark for P&C industry returns?

August 4, 2022 by Glenn McGillivray

Despite turmoil from the ongoing COVID-19 pandemic that affected everything from the need to work remotely, auto premium rebates and the handling of Cat claims, to the availability and price of building materials and labour, Canada’s P&C insurers still managed

Picture of the Toronto city skyline
News BrokersHRManagementOperations

National Canadian brokerage reports 110% revenue increase

August 2, 2022 by Jason Contant

NFP has grown dramatically in Canada over the last three years, with a 110% expansion in revenue, the large national brokerage reported late last month. “NFP in Canada is 20 times larger than it was five years ago,” Scott Saddington,

News Operations

How risk pros feel about attending in-person events in the COVID era

July 29, 2022 by David Gambrill

Insurance is a relationships-based industry, but Canada’s risk professionals appear conflicted about attending in-person industry events again, even after most public health restrictions have been dropped in most provinces, a Canadian Underwriter online survey suggests. On one hand, 69% out

Business person walking through a target to illustrate specialization
News BrokersCommercialCommercial AutoConstructionCyberHRInsurersManagementMergers and AqcuisitionsOperationsPersonal AutoPersonal HomeProperty

Is specialization the best route to broker independence?

July 27, 2022 by Jason Contant

A bevy of challenges, including M&A frenzy, rapidly evolving technology, automation and directs, has spurred some independent brokerages to focus on specialization. And some are even divesting of personal lines. “From a client perspective, it’s great to have a broker

Concept of employee retention
News HRManagementOperationsTechnology

Where employers are having difficulty attracting and retaining talent

July 27, 2022 by Jason Contant

Attracting and retaining IT and digital talent remains the biggest challenge for companies around the world, and it’s an even bigger problem for employers than it was in 2021, according to a recent survey from WTW. IT/digital talent remains the

Merger and acquisition partnership
News BrokersCommercialCommercial AutoMergers and AqcuisitionsOntarioOperations

What Navacord’s 15th deal of the year brought into the fold

July 26, 2022 by Jason Contant

Navacord Corp. has completed its 15th M&A deal of the year, this one involving a large commercial brokerage known for its risk management expertise with automotive dealerships. Navacord’s latest partnership is with Ottawa-based Binks Insurance Brokers Limited. Founded in 1918,