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Acquisition broadens NFP’s Ontario base

June 8, 2023 by Philip Porado

NFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release. The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,”

Two groups of employees join together after merger
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BrokerLink buys Burlington brokerage

June 6, 2023 by Philip Porado

For the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle),

Working from home or playing with the dog?
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How hybrid work can increase broker E&O risk

May 31, 2023 by David Gambrill

Workplace flexibility, one feature of a hybrid workplace, has proven to be a selling point to attract younger brokers. But the hybrid office makes it difficult to supervise newly recruited brokers to make sure they’re doing things correctly, broker E&O

Vice pushing on both side of businessman to represent the hard insurance market
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Brokers still worry about the hard market, but what’s next?

May 1, 2023 by Philip Porado

Although Canadian property and casualty (P&C) insurance brokers still call the hard market their greatest challenge, their overall level of concern is gradually waning. So found Canadian Underwriter’s 2023 National Broker Survey, in which more than 150 brokers nationwide expressed

A broker being lifted up by her team and carriers.
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National Broker Survey: Top tech solution brokers want from carriers

May 1, 2023 by Philip Porado

Brokers worried about challenges faced when placing business during a hard market are looking to carriers for help with online claims service capabilities, said respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey polled 150 brokers nationwide about challenges

A lot of employees at insurance brokerages are planning to leave the industry
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What our 2023 survey says about broker job satisfaction

May 1, 2023 by Philip Porado

Beyond recruiting challenges, data from Canadian Underwriter’s 2023 National Broker Survey show retention will continue to be a major issue for property and casualty (P&C) insurance brokers this year. The survey, answered by more than 150 brokers nationwide, asked about

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Why the P&C broker talent crunch won’t end soon

April 28, 2023 by Philip Porado

While the hard market’s still a huge challenge for Canada’s broker distribution channel in 2023, finding qualified workers was also top concern for brokers. So said more than 150 nationwide respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey,

Inflation remains a concern for Canadian insurance brokers
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Why brokers still need to protect clients from inflation

April 18, 2023 by Alyssa Di Sabatino

Canada’s inflation rate eased to 4.3% in March, Statistics Canada reported on April 18. That’s down nearly a percentage point from February’s 5.2% and solidly below inflation’s 8.1% peak in summer 2022. And, with inflation beginning to cool, P&C insurance

Business for sale sign.
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Budget proposals on business sales could affect brokerage owners

March 30, 2023 by Philip Porado

The big deal for Canada’s P&C insurance industry in 2023’s federal budget was a $31.7 million commitment over three years to protect households at high risk of flooding and without access to adequate insurance. But there was some less-noticed news.

Happy woman client receiving a text message from her insurance broker.
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Sales Column: Clients ignoring your emails? Try texting

February 22, 2023 by Adam Mitchell

People love their smartphones. And even those who claim they don’t still spend hours using them every day. A study last year by cybersecurity company NordVPN found 66% of Canadians even use their phones while in the washroom. I’ve always

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Industry vet joins new brokerage

February 7, 2023 by Alyssa DiSabatino

Industry veteran Paul Martin has been appointed as chief operating officer of Lawrie Insurance Group.  Previously, Martin was president and COO of KRG Insurance Brokers for more than 40 years — a position he maintained when KRG merged with RRJ

Beach chair and umbrella in the sun.
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Do younger Canadians planning vacations value travel insurance?

February 2, 2023 by Canadian Underwriter Staff

Making up for the inability to travel during the pandemic is top of mind for 70% of Canadian millennials, who told an Allianz Global Assistance survey conducted by Ipsos they’ll be taking a vacation this year. Of those saying they’ll