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Is specialization the best route to broker independence?
July 27, 2022 by Jason ContantA 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…
Brokerage E&O 101: How to win lawsuits against evasive clients
July 27, 2022 by David GambrillTaking notes and attaching them to a client’s file as part of an everyday business practice allowed a veteran broker at Wyatt Dowling Insurance Brokers to win a lawsuit launched by her client over two cars that burned up in…
Environment Canada confirms tornado touched down north of Belleville, Ont.
July 26, 2022 by The Canadian PressEnvironment Canada has confirmed at least one tornado touched down in an area north of Belleville, Ont., as severe thunderstorms swept through parts of southern and eastern Ontario on Sunday night. In a preliminary report, the weather agency says staff…
Storm that lashed Laurentians likely a tornado, Environment Canada says
July 25, 2022 by Adina Bresge and Virginie Ann - THE CANADIAN PRESSThe churning storm that toppled trees and battered homes in the Laurentians was likely a tornado, a meteorologist with Environment Canada said Sunday. The national weather agency said forceful winds lashed the area around Saint-Adolphe-d’Howard, Que., about 100 kilometres northwest…
What the latest wildfire near Lytton, B.C. reveals
July 22, 2022 by Jason ContantThe out-of-control wildfire burning near Lytton, B.C. shows the community and its surrounding area are at high risk of repeated fires, said Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR). The Nohomin Creek wildfire about 1.7…
Storm causes property damage in southeast Alberta
July 19, 2022 by The Canadian PressMEDICINE HAT, Alta. – Alberta Emergency Alert says a storm has caused damage to homes and vehicles in the southeastern corner of the province. It initially called it a tornado, but now says it was a storm with dangerous and…
BrokerLink closes three more acquisitions across Canada
July 15, 2022 by Jason ContantBrokerLink is continuing its expansion into Alberta, Ontario and Atlantic Canada with the acquisition of three more brokerages over the past couple months. A subsidiary of Intact Financial Corporation, BrokerLink closed the acquisition of New Brunswick-based McTague Insurance on June…
Out-of-control blaze grows near fire-ravaged Lytton, B.C.
July 15, 2022 by The Canadian PressLYTTON, B.C. – A wildfire blazing just west of Lytton, B.C., has now scorched five square kilometres of trees and bush, more than doubling in size in less than 12 hours. BC Wildfire Service spokeswoman Taylor Colman says the out-of-control…
Hard market challenges aside, brokers not racing for the exits
July 12, 2022 by David GambrillCanada’s hard market in insurance remains the Number 1 concern of new and experienced brokers alike, as well as brokerages big and small, according to Canadian Underwriter‘s 2022 National Broker Survey. The gender split among respondents was most prominent, with…
Inflation might not lead to higher claims amounts in Canada
July 8, 2022 by Philip PoradoWith overall consumer inflation near 40-year highs, can sharply rising claims costs and social inflation be far behind? It’s too soon to tell, an Aon expert tells Canadian Underwriter. Speculation that consumer price inflation might spark social inflation for casualty…
Where home insurance premiums are trending upwards in 2022
July 8, 2022 by Jason ContantLaSalle, Ont., has the highest home insurance premiums in the province right now, whereas Ajax, Ont., offers the least expensive home insurance premiums, according to the latest data from rate comparison site RatesDotCa. On average, home insurance premiums in Ontario…
Lightning starts 136 wildfires over seven days in Yukon: fire information officer
July 8, 2022 by The Canadian PressWHITEHORSE – A Yukon information officer says firefighters in the territory have been bolstered by crews and resources from British Columbia to help fight a growing number of wildfires. Mike Fancie says in a news release Wednesday that about 60…