Canadian Underwriter

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Road forks meet to represent a merger
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U.K.-based firm buys two Canada brokerages

September 12, 2023 by Canadian Underwriter Staff

Looks as if the summer 2023 P&C brokerage merger train will keep on rolling into the fall. Specialist insurance and reinsurance broker BMS Group has acquired Canada-based insurance brokers, Smith & Reid Insurance Brokers Ltd. and O’Neil Insurance. Smith &

Construction site with heavy machinery and trucks
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How NFP’s updating construction and infrastructure operations

September 7, 2023 by Philip Porado

Property and casualty broker NFP announced it will integrate its surety practice into its Construction & Infrastructure (C&I) group, which supports companies in the construction space. These changes impact operations worldwide, including Canada, NFP said. “Surety plays a vital role

Insurance claims adjuster working in the field
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How the pandemic changed adjusting for the long haul

July 10, 2023 by Philip Porado

COVID-19 restrictions led adjusters to shift claims work to desktop teams. The change was driven by client reluctance to meet in-person and employees’ desire to reduce site work until the risks were better understood. But those changes can make some

Economic and geopolitical risks have insurers walking a tightrope in 2023
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Despite easing inflation, P&C insurers face challenges

June 27, 2023 by Philip Porado

Canada’s May inflation rate slipped to an annualized 3.4%, Statistics Canada said Tuesday. That’s the lowest rate in two years and solidly below the 4.4% annual rate posted in April. It’s also in line with the Bank of Canada’s efforts

Melting ice cream to signify a softening market for commercial insurance
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Is market segmentation helping to soften pricing?

June 14, 2023 by David Gambrill

A softening, but segmented, insurance market is allowing commercial lines brokers to leave some aspects of the years-long hard market behind. Improved pricing models are one key ingredient in the ‘stability’ now seen in commercial lines, brokers observed. Carriers are

Contract waiting for a signature
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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,