Canadian Underwriter

Topic Trusted Advisor

Businesspeople shaking hands over a signed contract
News BrokersClaimsCommercialCommercial AutoCyberInsurersLegalMergers and AqcuisitionsPersonal AutoPersonal HomePropertyTrusted Advisor

Selling your brokerage? Don’t forget to tell your clients

October 31, 2022 by Michael Carey

Imagine you’re a client who calls your broker to talk about renewing a policy, only to find they’ve sold the business and moved to Florida. It’s hardly an elegant retirement notification. A client would much rather be told about the

Magnet draws talent to a company
News BrokersInsurersLicensingMergers and AqcuisitionsTrusted Advisor

How to find P&C talent by acquiring wealth planning advisories

October 27, 2022 by Philip Porado

Frequent announcements about Canadian P&C brokerages buying retirement and wealth planning advisories raises an interesting question: What do the acquirers offer to the employees of the firms they buy? The short answer is development opportunities, said Terri Botosan, regional president

gear breaking under stress.
News BrokersCommercialCommercial AutoCyberInsurersLoss TrendsMGAsOpinionPersonal AutoPersonal HomeTrusted Advisor

Opinion: How to end subscription policy bottlenecks

October 21, 2022 by Douglas Morrow

While the worst of the hard market in Canada is gradually drifting behind us and COVID-19 is taking something of a holiday, not all is rosy, especially for commercial lines business. Brokers worked tirelessly over the past several years to

Buyout and related words like transaction, debt, ownership and investment
News BrokersCommercialCommercial AutoConstructionCyberHRMergers and AqcuisitionsPersonal AutoPersonal HomeTrusted Advisor

Why benefits, retirement and wealth planning are now P&C profit centres

October 14, 2022 by Philip Porado

Recent merger deals announced by Canadian commercial P&C brokerages increasingly feature acquisitions of wealth management and employee benefits firms, and this is no accident, brokers tell Canadian Underwriter. This subset of M&A is about P&C brokerages becoming a type of

Commuter traffic in Montreal
News BrokersClaimsCommercial AutoPersonal AutoTrusted Advisor

Many Canadians are driving more but are they telling their insurers?

October 6, 2022 by Canadian Underwriter Staff

Insurers across Canada gave drivers a break on their premiums during pandemic lockdowns to reflect a sharp reduction in the number of kilometres they were driving each month. But, even as 20% of Canadians report they’re driving to work more

Insurance agent with a client to sign an insurance policy
News BrokersOntarioOperationsTechnologyTrusted Advisor

Do your clients really want digital delivery of insurance documents?

October 5, 2022 by Jason Contant

More than half of your clients want to receive their insurance documents in paper format, according to extrapolated results of Insurance Brokers Association of Ontario’s (IBAO) Going Paperless project. “It’s not a slam dunk – just because somebody wants to

Threads intertwining to represent mergers of eight companies
News AlbertaB.C.BrokersBusiness InterruptionCommercialCommercial AutoConstructionCyberEnvironmentalHRLegalLiabilityManitobaMergers and AqcuisitionsMGAsOntarioOperationsPersonal AutoPersonal HomePropertyTrusted Advisor

Which firm racked up 8 mergers over the summer?

September 28, 2022 by Canadian Underwriter Staff

Brokerage M&A has been hectic so far in 2022, with one firm bringing eight brokerages across Canada under its wing during the summer. Navacord today announced it closed eight acquisitions during July and August that expands the company’s presence in

Auto accidents illustrate the need to avoid distracted driving
News BrokersClaimsCommercial AutoInsurersOntarioPersonal AutoPersonal HomePropertyTrusted Advisor

Texting while driving, and 4 other things that boost clients’ premiums

September 27, 2022 by Canadian Underwriter Staff

Client sent a text while driving and got caught? A conviction for that infraction beyond the police fine can cost a driver a 70% premium hike when it’s time to renew, said a new study from RatesDotCa. The study was

Illustration of a businessman holding a scale above his head with a house on one side and a bag of money on the other side
News BrokersClaimsClaims ProfessionalsCommercialInsurersLoss TrendsPersonal HomePropertyTrusted Advisor

How to ensure your clients’ property values are accurate amid volatility

September 26, 2022 by Alyssa Di Sabatino

Inaccurate property values were an industry-wide challenge in construction even before the pandemic brought economic volatility. So, how can you accurately quantify an insured’s risk when the pricing is so volatile? Clients are at risk of being underinsured when reported

Form containing fraudulent data
News ClaimsEmerging RisksPersonal AutoPersonal HomePropertyTrusted Advisor

Is Canada’s insurance industry becoming an online fraud target?

September 26, 2022 by Canadian Underwriter Staff

Canada’s insurance industry saw the highest increase in digital fraud attempts—up 125% between Q2 2021 and Q2 2022—of all industries in the country that were screened as part of a quarterly study from credit-reporting firm TransUnion. The only Canadian industries

Gen Z woman working on her finances
News BrokersPersonal AutoPersonal HomePropertyTrusted Advisor

Which generations most want a broker’s advice?

September 20, 2022 by Canadian Underwriter Staff

Younger Canadians are more receptive to getting insurance advice from brokers, said a new survey commissioned by Chubb that examined attitudes across five generations. Specifically, the study found 46% of respondents in generation Z, which it defined as those born

Used car with for sale sign in window
News BrokersCommercial AutoEducationInsurersLoss ControlOntarioPersonal AutoPropertyTrusted Advisor

Brokers can help clients avoid purchasing stolen vehicles

September 19, 2022 by Philip Porado

One of the best things a broker can do for a client planning to buy a used car is to provide tips for making sure that vehicle isn’t stolen, said Bryan Gast, vice president of investigative services with Équité Association.