Keyword
compensation
Where brokerages stand on increasing compensation to attract talent
June 21, 2023 by Jason ContantFew Canadian P&C brokerages are looking at increasing compensation to attract and retain talent, even as they continue to try to distinguish themselves from their competition, a new industry report found. Like many industries, insurance has seen a shortage of…
Are brokers really ‘quiet-quitting’ if they are doing what they are paid to do?
September 1, 2022 by Jason ContantHR experts question whether the new workplace trend of ‘quiet quitting’ – only doing as much work as required (no more, no less) in an attempt to restore work-life balance and prevent burnout – is aptly named and reflective of…
Emerging trends in broker compensation
March 25, 2022 by David GambrillIn the midst of the ‘Great Reshuffle,’ brokerage principals are finding employee-recognition programs a better way to compensate brokers for good performance. Fifty-three per cent of the 119 brokerage managers participating in Canadian Underwriter’s 2022 National Broker Survey touted employee-recognition…
Financial incentives for selling insurance: The regulators’ take
March 11, 2022 by David GambrillCanada’s legal community is reminding the Canadian property and casualty industry about proposed new regulatory guidance for financial incentives to buy insurance. Among the proposed expectations of Canadian insurance regulators, it will be assumed that once insurers offer brokers financial…
The shift in how brokers are paid
December 12, 2020 Jason Contant, Online EditorCompensation models based on performance continue to rise in popularity. A look at what some brokerages are doing and why…
Richly Deserved
December 3, 2018 Jason Contant, Online EditorIs your brokerage looking to build a performance-based compensation plan? Chances are, you are not alone. In Canadian Underwriter’s 2018 National Broker Survey, more than 250 broker owners and principals shared their views on the effectiveness of four types of…
Commercial brokers compensation will flip over time: RIMS Canada CEO panelist
September 28, 2017 Greg Meckbach, Associate EditorCanadian consumers still “value the trusted advisor model” when buying insurance but there will soon be a “flipping” of brokers’ compensation model on commercial lines, whereby brokers will tend to earn more of their money on the consultative services, senior…
Alternate dispute resolution, tripling accident benefits among potential solutions for B.C. auto insurance: EY
July 26, 2017 by Canadian UnderwriterThe process of suing for compensation for motor vehicle accidents “could be made far more efficient” in British Columbia, whose monopoly auto insurer’s basic accident benefits are “low compared to modern medical and rehabilitation costs” in care-based auto insurance schemes…
Dave Schioler, CEO of Insurance Brokers Association of Manitoba, to step down in April 2018
April 15, 2017 by Canadian UnderwriterThe Insurance Brokers Association of Manitoba (IBAM) announced on Thursday that CEO Dave Schioler will be stepping down effective April 11, 2018. Noting that he still has much to do at IBAM during what will now be a transition year,…
Willis Towers Watson launches new cyber product for global airlines
April 11, 2017 by Canadian UnderwriterGlobal advisory, broking and solutions company Willis Towers Watson (WTW) announced on Tuesday that it has introduced a new “flexible insurance solution” specifically tailored to cover cyber exposure affecting the global airline industry. CyFly forms part of WTW’s integrated approach…
Supreme Court of Canada bars lawsuits against hospital, police by auto accident victims compensated by SAAQ
March 27, 2017 by Canadian UnderwriterAn auto accident victim who is compensated by Quebec’s public automobile insurance plan cannot sue a third party for an “aggravated” or “separate” aspect of the injury, provided there is a “plausible, logical and sufficiently close link” between the accident…
AP Sources: VW to pay near $10.2B to settle emissions claims
June 23, 2016 Tom Krisher and Michael Biesecker - THE ASSOCIATED PRESSDETROIT – Volkswagen has agreed to take a series of steps with a total cost of about $10.2 billion to settle claims from its unprecedented diesel emissions cheating scandal in the U.S., two people briefed on the matter said Thursday.…