Topic Operations
How insurtechs can stand out in a crowded P&C market
January 17, 2024 by David GambrillMarket dynamics are making it tougher for start-up insurtechs to find willing insurance company partners, and some say digital specialization is the key for insurtechs to make their way into the squeezed P&C industry. “Focus on specific differentiation,” advises Marcus…
Quantum computing: How could it be regulated?
January 16, 2024 by Jason ContantCanadian financial services regulators have the emerging technology of quantum computing on their radar, but questions remain around its potential regulation. “Regulating quantum computing, especially in the context of the insurance industry, is complex due to the technology’s novelty and…
Why Mitch Insurance opened its first Ontario branch — and what’s next
January 16, 2024 by Alyssa DiSabatinoMitch Insurance has opened a new branch in Kingston, Ontario, with a tri-fold objective to grow its footprint organically, establish a commercial focus in the province and provide entrepreneurial brokers the chance to manage a book of business. The Kingston…
Two brokerages, one MGU involved in recent deals
January 15, 2024 by Jason ContantEditor’s Note: This story has been corrected to clarify that Keyes Insurance was not acquired by the Canadian Broker Network but rather joined its membership. Keyes Insurance remains a fully independent brokerage solely owned by Shaun Keyes. Canadian Underwriter apologizes…
What do your insurance clients actually need? Ask them
January 15, 2024 by Alyssa DiSabatinoThe first step to conducting research on customer needs is to ask, rather than assume, what your customers want, suggested Robin Shufelt, CEO at First Acre Insurance — a new farming MGA. Yet, despite the insurance industry investing nearly…
Regulators watching how broker sales tied to compensation
January 12, 2024 by David GambrillCanada’s insurance regulators are paying close attention to how insurers are assessing the performance of their sales force and/or linking broker compensation to the fair treatment of consumers. In particular, they are monitoring whether brokers are being assessed using purely…
Return-to-office and flexibility: can they coexist?
January 11, 2024 by Alyssa DiSabatinoP&C leaders may be able to bring staff back into the office without sacrificing the flexibility their employees want. In fact, the key to getting ‘return to office’ right is an organization’s ability to draw workers back to their desks,…
WTW names head of personal lines for Canada, U.S.
January 10, 2024 by Jason ContantLarge 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…
How firms are training tomorrow’s talent
January 8, 2024 by Alyssa Di SabatinoIntermediate 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…
How can you be a better leader? Forget about work after quitting time
January 5, 2024 by David GambrillEmployees 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…
Why broker commissions are going down
January 3, 2024 by David GambrillBroker 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…
The down low on D&O risk in 2024
December 18, 2023 by Alyssa DiSabatinoClients 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…