News

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…