Opportunities for “broker-driven” usage-based auto insurance are likely to be down the road, but brokers are telling a large Canadian mutual that their insurance customers don’t want their insurers monitoring how they use their vehicles. “Our brokers are advising us…
A Nova Scotia ruling exploring the standard of care and “complexity” of risk may offer some relief for insurance brokers, but that should not inspire complacency. While it appeared that the standard of care for brokers had expanded, brokers must clearly understand that standard of care may increase in line with the complexity of the risk.
The B.C. wildfires and losses related to commercial auto and motorcycle contributed to Echelon Insurance witnessing a 42% decrease in net income and an increase in combined operating ratio for 2017 Q3 compared to 2016 Q3. Net income amounted to…
Sellers seem to be enthusiastically responding as buyers continue the aggressive valuations of p&c and employee benefits agencies, with OPTIS Partners reporting Thursday there were 132 deals inked during 2017 Q3, bringing the year-to-date total to 457. Chicago-based OPTIS Partners’…
Canadian Underwriter’s inaugural National Broker Survey polled brokers across the country on issues such as technology and attracting qualified professionals.
Responses from brokers surveyed indicate commercial property insurance rates in the United States dropped an average of 3.6% during the three months ending June 30, with average premium pricing down 1.44% in cyber, in a market that is “softer than…
The long-standing objective of standardized real-time data exchange between insurance brokers and companies has taken a big step forward with Tuesday’s announcement that initial testing of the process has been successfully completed. A team of players in Canada’s p&c insurance…
New cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has…
U.S.-based TechCanary has enhanced its insurance platform for the Canadian market to allow brokers and insurers access to additional Canada-specific capabilities around p&c lines of business meant to help them to deliver more responsive and predictive offerings to customers. TechCanary…
Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts…
Many brokers are taking the bull by the horns and embracing digital transformation, with or without the help of insurers, a speaker suggested last week at the Insurance Analytics Canada Summit in downtown Toronto. Greg McCutcheon, president of Markham, Ont.-based…
Servca, the independent international specialist Lloyd’s broker, announced on Thursday that is has expanded its global footprint into Canada. Servca now provides regional Canadian brokers with direct access to Lloyd’s of London specialist products, schemes and carriers, “catering for non-standard…