Canadian Underwriter

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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

News BrokersCommercialCommercial AutoInsurersPersonal AutoPersonal HomeTrusted Advisor

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

Broker standing in front of a series of doors, representing choices.
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Does your client need D&O or an ancillary coverage?

January 26, 2023 by Philip Porado

While directors and officers (D&O) insurance is designed to cover individuals and corporate assets on the broadest threat level, certain exposures may require separate, dedicated policies focused on specific risks. When claim scenarios are investigated, it may become clear a

College students in a classroom.
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Can a new college program draw talent to commercial brokerages?

January 18, 2023 by Alyssa DiSabatino

The specialized nature of commercial brokering is causing a talent shortage now that veterans are retiring in droves. “I literally get three or four different companies a week that ask for talent, and it’s amplified across the industry,” said John

Car accident on highway with ambulance responding
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ICBC’s new approach to claims interactions with injured drivers

December 5, 2022 by Dr. Donna Bain

The new Enhanced Care model put in place by the Insurance Corporation of British Columbia (ICBC) in Spring 2021 emphasizes proactive outreach to injured customers to help them recover, while also communicating about insurance benefits and processes. Enhanced Care changed

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What makes the current claims environment so challenging?

December 2, 2022 by Philip Porado

A convergence of global factors will cause above-average levels of claims inflation for the foreseeable future. Claims professionals who spoke with Canadian Underwriter said multiple market-dependent factors – including prolonged COVID-19 lockdowns in China, political instability, labour and materials shortages,

Close up shot of four businesspeople's hands. Each person is reaching forward and holding the piece of a puzzle next to their colleague's hands.
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Why financing your brokerage ownership aspirations should come last, not first

November 29, 2022 by Alyssa DiSabatino

Financing is usually the last piece of the brokerage ownership puzzle, suggests one P&C financial advisor, even though 57% of young brokers see financing as their biggest obstacle to ownership, according to Canadian Underwriter survey results.  Broker entrepreneurs should ensure

Shopping cart representing selling a business
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Three options for selling your brokerage

November 11, 2022 by Philip Porado

A consistent stream of property and casualty brokerage acquisition announcements over the past few years likely has a lot of brokerage owners thinking about how they’ll eventually exit the business. For most sales transactions, there are three basic options. One

Celyeste Power
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IBC announces new president and CEO

November 10, 2022 by Canadian Underwriter Staff

Celyeste Power will succeed retiring Insurance Bureau of Canada (IBC) president and CEO Don Forgeron at the end of 2022. Power, who takes over as president and CEO on January 1, 2023, is currently executive vice-president for strategic initiatives and