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News BrokersInsuranceMergers and Aqcuisitions

Best exit strategies for selling your brokerage

September 1, 2018 by Jason Contant

Looking to sell your brokerage? Don’t assume your brokerage will eventually sell for an ever-increasing multiple of revenue, or that you will be able to sell at the high end of the current ranges, a P&C advisory and consulting firm…

News BrokersInsuranceLegal

When a broker leaves a brokerage, who owns the clients?

September 1, 2018 by Jason Contant

Personal relationships with clients are a critical part of a broker’s business. So, when a broker decides to leave a brokerage, who owns the clients — the broker or the brokerage? “Really, the brokerage,” said John Elwick, a partner with Alexander…

News EmploymentLegal

Tim Hortons, franchisees in legal spat over shattering coffee pots

September 1, 2018 by Aleksandra Sagan - THE CANADIAN PRESS

The parent company of Tim Hortons is denying a claim by a group of franchisees that the coffee pots they’re required to use have been shattering and injuring employees. Restaurant Brands International says the claims of faulty coffee pots are…

News InsuranceLegislation / Regulation

Insurer CEO to personally visit FSCO asking for higher rates

August 30, 2018 by Greg Meckbach

The newly-elected Ontario government should let carriers change their rates without approval from the Financial Services Commission of Ontario, the president of a mutual that writes auto contends. It “makes sense” to require insurers to file rates with FSCO “but…

News AdjustersClaimsLegalProfessional Development

How these independent claims adjusters lost their jobs

August 30, 2018 by Greg Meckbach

Some employees of Canadian independent adjusting firms have been shown the door due to bad behaviour that the #MeToo movement is bringing to the forefront, company CEOs said at the recent Canadian Claims Summit. In terms of harassment in the…

News BrokersEmploymentInsuranceLegal

How to prevent brokers from poaching clients when they leave the brokerage

August 30, 2018 by Jason Contant

Insurance companies or brokerages trying to prevent employees from poaching clients should include precise and specific employment restrictions on time and geography, a commercial litigation lawyer cautioned Wednesday. To draft an enforceable non-solicitation agreement, brokerages should provide realistic parameters on…

News BrokersProfessional Development

How to motivate brokers on the front line

August 30, 2018 by Jason Contant

Brokerages looking to better motivate frontline workers should optimize play, purpose and potential, while reducing pressure, a recent experiment suggests. In a blog post for Harvard Business Review, authors Lindsay McGregor and Neel Doshi implemented an experiment to transform the…

News Insurance

Court urges discovery plans that avoid “historical murder mystery approach to litigation”

August 30, 2018 by David Gambrill

A flooded business and their insurers have been ordered by a court to “go back to the drawing board” and come up with a discovery plan, having “fallen short of the collaborative process,” a case master for the Ontario Superior…

News ClaimsInsuranceRestoration

15,000 still without power following heavy rain storm

August 30, 2018 by The Canadian Press

MONTREAL – About 15,000 Hydro Quebec customers were still without electricity this morning after heavy rain and strong winds caused damage to power lines Wednesday. The utility says its crews worked through the night to restore power to 90 per…

News BrokersInsuranceMergers and Aqcuisitions

Canadian carriers increasingly targeting insurers and brokerages for M&A

August 29, 2018 by Jason Contant

Canadian P&C companies are increasingly targeting insurers and brokerages for mergers and acquisitions, although the interest in targeting insurtechs is rising, according to a new report from ratings firm A.M. Best Company. A.M. Best released its market segment report for…

News InsuranceLegislation / Regulation

How cannabis legalization could re-word home insurance policies

August 29, 2018 by Greg Meckbach

If carriers do what one insurance defence lawyer advises, your clients could get new exclusionary language in their home insurance policies as a result of cannabis legalization. Insurers who are concerned about the risk of fire and burglary arising from…

News InsuranceTechnology

How to avoid the “broken arrow” approach to new technology

August 29, 2018 by David Gambrill

If you’re an insurance organization looking to adopt innovative new technology such as artificial intelligence, you’ll want to avoid the “broken arrow” approach to implementation. In some instances, organizations may put the cart before the horse, with IT departments developing…