Brokerage owners in some regions are struggling to find staff who know commercial lines. “There are very few people (in Saskatchewan) who understand commercial insurance deeply,” said David Reidy, president and CEO of Regina-based commercial brokerage Henderson Insurance Inc. To…
There is a lot of room to improve the current process for buying commercial insurance in Canada. In a brokerage, fully half of the 24 common touchpoints involved in processing a single new commercial policy could be removed through automation,…
Shopping around for the best deal for a business client may be getting more difficult as commercial lines prices start to uptick. Among commercial insurers, “it seems there is a little bit of tightening up on the risk appetite,” Raymond…
A $500 fine against a Manitoba broker illustrates the importance of documenting conversations with a client when advising on business interruption coverage in a commercial insurance policy. The broker, Edward Tetrault, provided a quote to his commercial business client on…
Navacord Inc., Canada’s fifth-largest insurance brokerage by premium volume, has entered into an agreement that will see a management-led buyout of its minority capital partner, Fairfax Financial Holdings Ltd., with the support of Madison Dearborn Partners (MDP), a leading private…
Aviva Canada has launched a new commercial product that allows a company’s different business operations to be included on one policy. This consolidation is intended to make it easier for brokers to offer limits and extensions for different segments. In…
Toronto Insurance Conference (TIC), an association of Canadian commercial insurance brokers, is poised to launch a proof of concept leading towards real-time data integration — the “the holy grail” of commercial lines insurance. It’s a big step towards real-time data…
Economical Insurance is looking to “redefine” its approach to commercial insurance with a new strategy and structure, the insurer’s manager of public and media relations, Doug Maybee, told Canadian Underwriter on Thursday. “It certainly shows that we are taking steps…
Commercial insurance buyers in North America are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most “active and financially disruptive hurricane seasons in history,” according to Willis Towers…
The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of…
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…
Atlantic Canada’s Archway Insurance is joining forces with Halifax-based Jack & Co. Ltd. and its affiliate, AFC Insurance Services of Cole Harbour, in a move meant to enhance the capabilities and extend the reach for both entities. The intent of…