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News Insurance

What industries are being hit harder than others in this market?

November 20, 2019 by Adam Malik

Being a commercial broker in today’s environment is presenting unique challenges as some markets are feeling the effects of a difficult cycle more than others, says one broking leader. The current market isn’t a hard one in a traditional sense,

News Insurance

What worried drivers are not doing as winter hits

November 19, 2019 by Adam Malik

Many drivers in British Columbia are not taking proper precautions to get their vehicles ready as winter weather hits, despite admitting they’re nervous about driving in icy and snowy road conditions, according to a new survey. The British Columbia Automotive

News BrokersCommercial LinesConstructionInsurance

CSIO finalizes standard set of questions for underwriting this commercial line

November 19, 2019 by Jason Contant

The Centre for Study of Insurance Operations’ (CSIO) commercial lines working group has finalized a standard set of questions required for underwriting small contractor new business submissions. “This is a significant step in implementing commercial lines data standards in the

News Insurance

Is there room for a ‘jack-of-all-trades’ insurance professional anymore?

November 16, 2019 by Adam Malik

It doesn’t matter if you’re a broker, adjuster or underwriter, specialization will be essential for anyone working in the insurance industry going forward, says one industry expert. With the growth of the shared and gig economies, new challenges are emerging

News CatastrophesClaimsInsurance

A new way to make insurance for high-risk homes in flood plains affordable

November 14, 2019 by Adam Malik

Amphibious architecture could be the key to mitigating flood risk and making insurance affordable for those living and working in floodplains, according to one expert. The technology allows structures to float as water levels rise. Amphibious construction and retrofitting of

News BrokersMergers and Aqcuisitions

Employee-owned brokerage makes third acquisition of the year

November 14, 2019 by Jason Contant

Employee-owned independent insurance brokerage Storm Insurance Group announced Wednesday its acquisition of Quebec brokerage Axxium Assurance Inc., effective Nov. 1. “This opportunity now makes us one of Canada’s few national independent insurance brokers with full operations in all four regions

News BrokersInsuranceTechnology

The downside for brokers of better commercial flood mapping

November 13, 2019 by Greg Meckbach

Commercial brokerages are going to have to start buying the same data on commercial flood risk that insurance carriers are already buying, says a Toronto commercial broker. Insurers tend to have data on the claims history of commercial property, and

News BrokersInsurance

Regulator to study incentive programs as part of “fair treatment” education mandate

November 13, 2019 by Jason Contant

More communication is needed to inform the broker community about fair treatment of customers (FTC) guidance, since there may be a disconnect or lack of awareness of the topic, the Canadian Council of Insurance Regulators (CCIR) reported recently. In particular,

News InsuranceMergers and Aqcuisitions

Brokerage acquisitions: What’s really in it for Intact?

November 12, 2019 by Greg Meckbach

Taking on potential disruptors and investing in technology are among the reasons Intact Financial Corp. is on a brokerage acquisition spree. “Our view is that scaling up distribution is the best way to fight disruption,” Intact CEO Charles Brindamour said

News Insurance

How some insurers handle sick days

November 11, 2019 by Adam Malik

If you’re feeling a cold coming on, you could be doing more harm than good if you make your way to the office, a workplace expert warned. And for some in the property and casualty space, employers allow for staff

News BrokersInsuranceMergers and Aqcuisitions

How many Canadian employee benefits firms has Hub acquired?

November 8, 2019 by Jason Contant

Hub International has acquired another Canadian employee benefits firm as part of its continuing strategy to expand its offerings in this area, bringing the total number of acquired firms to about two dozen over the past two years. So far

News BrokersInsuranceLegislation / Regulation

Why this broker regulator is keeping an eye on the hard market

November 8, 2019 by David Gambrill

Ontario’s broker regulator has the current hard market conditions on its radar screen, scrutinizing what’s happening between brokers and their carrier partners through the lens of consumer fairness. Scott Bell, outgoing president of Registered Insurance Brokers of Ontario (RIBO), made