Topic Trusted Advisor
Brokers can help clients avoid purchasing stolen vehicles
September 19, 2022 by Philip PoradoOne 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.…
Fire-risk recall may give brokers opportunity to contact auto clients
August 25, 2022 by Philip PoradoA recall of two late-model SUV models by Hyundai Motor America and Kia America was amplified by a consumer alert from the U.S. National Highway Traffic Safety Administration (NHTSA) in Washington. The issue involves a tow hitch, sold as a…
What insurers are doing to improve recruiting
August 23, 2022 by Philip PoradoIt’s not your imagination, COVID-19 really did throw a wrench into the insurance industry’s ability to hire and retain talent, says a new Deloitte report on the state of Canada’s P&C industry. It found industry demand for people with the…
Are brokers and agents marketing effectively to women?
August 18, 2022 by Canadian Underwriter StaffMore than 60% of women don’t have an insurance agent, compared with fewer than half (48.1%) of men, according to a new study from Zelros, a Paris-based insurtech with offices in Montreal and New York. The survey includes data from…
IBC names new chairwoman
July 29, 2022 by Canadian Underwriter StaffHeather Masterson is the new chairwoman of the Insurance Bureau of Canada (IBC) having been elected by the board of directors, the association announced Thursday. She brings a quarter century of industry experience, market and broker expertise, and executive leadership…
Does it matter how brokers define independence?
July 25, 2022 by Jason ContantWhat’s the best way for a P&C broker to maintain its independence? Depends who you ask. Back in April, Insurance Brokers Association of Ontario president Joseph Carnevale told Canadian Underwriter that independence is linked to the broker value proposition to…
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…
How to advise clients on commercial contract indemnities
July 6, 2022 by Michael CareyCommercial contracts often contain indemnities, and brokers should be prepared to address issues pertaining to indemnities within those contracts. Some clients may ask what an indemnity is. Simply put, it’s a promise to compensate another person for certain costs and…
Alongside the hard market, brokers face talent crunch
July 4, 2022 by David GambrillCanada’s hard market continues to be brokers’ Number 1 concern, with impacts being felt in several key areas — namely, workloads, resources, pay structures and work satisfaction, our 2022 National Broker Survey found. “Companies not wanting to write risks,” one…
How the pandemic changed broker prospecting for new business
June 30, 2022 by David GambrillHigh workloads during the pandemic had an impact on brokers’ ability to prospect for new business, Canadian Underwriter‘s 2022 National Broker Survey found. The survey asked more than 250 brokers nationwide in February about challenges to the broker distribution channel.…
Commissions may not compensate brokers for rising workloads
June 21, 2022 by David GambrillCommission structure doesn’t always compensate for the time brokers must spend preparing for prospective business, only to have a client reject the proposal, said a broker responding to Canadian Underwriter’s latest National Broker Survey. “If I go to a dentist,…
What Millennials and Gen Z want when they buy insurance
June 17, 2022 by Alyssa DiSabatinoYounger Canadians are accustomed to getting immediate results from their actions. Sending an e-transfer, text or e-mail means things happen in the blink of an eye, said Katy Fowler, personal lines hero at InsuranceHero. “We expect our internet to be…