Keyword
brokerage
Got retention problems? P&C firms with diverse leadership don’t
March 28, 2024 by Alyssa DiSabatinoIf your brokerage is looking to solve its labour retention problems, consider this: The more diverse a P&C brokerage’s leadership team is, the less likely staff are to consider leaving their jobs. So finds a Canadian Underwriter survey, asking P&C…
Making clients valuable to your brokerage for the long term
February 15, 2024 Adam MitchellWhen it comes to ensuring clients have the right products and coverage levels, life insurance brokers are doing things much better than personal lines brokers. But there’s no reason the P&C industry can’t operate at that level. You can’t sell…
What happened after a broker quit without proper notice
February 5, 2024 by David GambrillA B.C. broker who quit without giving proper notice under his employment contract doesn’t owe his former brokerage any money for damages, because the brokerage couldn’t prove any lost income due to the resignation, the B.C. Civil Resolution Tribunal has…
When growing a business, is competition overrated?
January 23, 2024 Adam MitchellA new teammate once asked me how to succeed in our industry. My response was simple: Ask questions, show humility, and it’s amazing how much people will help you. This is a close-knit industry. You’d be surprised at how many…
How brokerage mergers could create tax benefits
January 15, 2024 Philip PoradoTax filing season is on the horizon, which means it’s time for Canadian brokerages and insurance companies to consider how they’ll treat GST, HST or QST payments, Yakoob Vayani, a partner at KPMG in Canada in Indirect Tax, Advisory, told…
McDougall’s Drayden Insurance acquires Alberta brokerage
January 3, 2024 by Jason ContantAlberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased…
Aon to acquire NFP in major brokerage merger
December 20, 2023 Philip PoradoAon expanded its worldwide property and casualty insurance market presence by today acquiring NFP — a leading middle market P&C broker, benefits consultant, wealth manager and retirement plan advisor. Aon will acquire NFP for an estimated $13.4 billion at closing.…
What P&C brokerage buyers are really looking for
November 8, 2023 by Jason ContantBuyers of Canadian P&C brokerages are becoming more selective about the brokerages they will pursue, with an increase in demand for commercial lines-focused brokerages, a new report from advisory firm Smythe LLP says. P&C consolidators continue to diversify their acquisitions,…
Clarifying Nativelands: What the decision means to brokers
October 11, 2023 Stephen F. Gleave, partner, DLA Canada (Toronto)Canadian Underwriter published an article on Sept. 19, 2023, entitled “Court draws distinction between a brokerage and a consultant.” The article deals with an important decision of Ontario Superior Court Justice Edward Morgan released on July 25, 2023. The matter…
U.K.-based firm buys two Canada brokerages
September 12, 2023 Canadian Underwriter StaffLooks 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 &…
Brokerage merger to form Top 10 P&C firm
September 11, 2023 by Jason ContantQuebec brokerages Fort Assurances and Gaudreau Assurances have merged to form what the two companies call one of the Top 10 damage insurance firms in the province. The new entity, which will operate under the name Fort Insurance & Group…
Brokerage wins limited injunction against regulator’s new rule
July 19, 2023 by David GambrillFS Insurance Brokers (FSIB), a B.C. insurance broker that has common ownership with a strata property management company, has won a limited injunction against a new rule proposed by the province’s broker regulator, pending judicial review of the new rule.…