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Small business owner looking at inventory News Commercial LinesInsurance

What 2023 looks like for your small business clients

January 4, 2023 by The Canadian Press

TORONTO – Small business owners have a slightly better outlook on the year ahead than a month ago but their short-term outlook has worsened, the latest survey results from the Canadian Federation of Independent Business (CFIB) said. The small business…

Young, overworked worker unhappy about being passed up for promotion News EmploymentInsuranceProfessional Development

How to motivate a top performer if you can’t promote them

January 4, 2023 by Jason Contant

Every brokerage has one or more top performers, but what can you do if you can’t promote them? Try developing interim strategies to help these employees get their underlying needs met, advises a new blog from Harvard Business Review. When…

Recession's impact on car insurance News ClaimsInsuranceMarkets / Coverages

How the upcoming recession will affect your home and auto clients

January 3, 2023 by Jason Contant

With a potential recession on the horizon, consumers will likely purchase fewer big-ticket items such as cars and homes. Of course, this also means a decrease in demand for the Canadian P&C insurance industry.  “Cars can be seen as a…

Open for business sign News AnnouncementsBrokersInsuranceReinsurance

Swiss Re starts 2023 with new name in Canada

January 3, 2023 by Canadian Underwriter Staff

A new year, a new name. Swiss Re Corporate Solutions received regulatory approval from the Office of the Superintendent of Financial Institutions (OSFI) to establish a Canadian branch of Swiss Re Corporate Solutions America Insurance Corporation (SRCSAIC). The new branch…

White icon of "Dollar increase" in a flat design style isolated on a gray background and with a long shadow effect. News CatastrophesInsuranceReinsurance

Why your reinsurance bills are up this year

January 3, 2023 by Alyssa Di Sabatino

January 1 reinsurance renewals are proving to be “one of the most challenging reinsurance markets” the insurance sector has experienced, says Guy Carpenter, a Marsh McLennan global risk and reinsurance specialist firm. Property insurers in particular can expect rates to escalate due…

Toronto's hospital for sick children suffers ransomware attack. News Insurance

Ransomware group apologizes, says ‘partner’ was behind SickKids attack

January 3, 2023 by Jordan Omstead - THE CANADIAN PRESS

TORONTO – A global ransomware operator issued an apology and offered to unlock the data targeted in a ransomware attack on Toronto’s Hospital for Sick Children, a move cybersecurity experts say is rare, if not unprecedented, for the infamous group.…

Silvy Wright Northbridge News BrokersCatastrophesClaims CanadaCommercial LinesInsuranceTechnology

2023 Executive Outlook | Silvy Wright, Northbridge Financial Corporation

December 29, 2022 by David Gambrill

Silvy Wright, president, CEO, Northbridge Financial Corporation The insurance industry faces several headwinds in 2023. Some, like climate change, have been on our radar for some time. Others, such as inflation, have emerged more recently. We will always face challenges;…

Shelly Willick News BrokersInsuranceProducts

2023 Executive Outlook | Shelley Willick, Sandbox Mutual

December 29, 2022 by Canadian Underwriter Staff

Shelley Willick, president, CEO, Sandbox Mutual Insurance Continued investment in technology and more diverse product offerings will be critical to meeting consumers’ shifting expectations. The pandemic changed the way people choose to spend their time. Consequently, policyholders are demanding simple,…

Rob Wesseling News BrokersInsurance

2023 Executive Outlook | Rob Wesseling, Co-operators

December 29, 2022 by Canadian Underwriter Staff

Rob Wesseling, president, CEO, Co-operators Insurance affordability and access to adequate protection will continue to be a critical issue in 2023, as climate change impacts increase in frequency and severity. We need to have a critical conversation in Canada and…

Jason Storah News BrokersInsurance

2023 Executive Outlook | Jason Storah, Aviva Canada

December 29, 2022 by Canadian Underwriter Staff

Jason Storah, CEO, Aviva Canada Climate change is a serious threat for the property and casualty insurance industry because it is a serious threat facing homeowners and business owners who live in vulnerable areas. As an industry, we see the impact…

Marshall Sadd News BrokersInsurance

2023 Executive Outlook | T. Marshall Sadd, Navacord

December 28, 2022 by Canadian Underwriter Staff

T. Marshall Sadd, executive chairman, Navacord We are a human-capital business and the attraction and retention of talent should be our Number 1 concern. Canada’s P&C insurance industry is the backbone of the economy yet remains the best kept secret…

David Partington News BrokersInsurance

2023 Executive Outlook | Dave Partington, Gallagher

December 28, 2022 by Canadian Underwriter Staff

Dave Partington, CEO, Gallagher Global Brokerage – Canada Resourcing our businesses to deliver for our clients will be the important issue in 2023. Job vacancies across Canada increased by 91% over the past three years; the labour market is tight,…