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How D&O insurance is entering unknown territory

December 11, 2019 by Adam Malik

Gone are the days of directors and officers insurance being put to the test due to guidance misses or financial misstatements. Nowadays, the biggest threats are coming from so-called “bad news” events like product recalls, disasters and cyberattacks. And the

News BrokersCommercial LinesProfessional DevelopmentTechnology

How Marsh sees the broker role evolving around cyber insurance

December 11, 2019 by Jason Contant

Brokers are finding they have to educate themselves more on the legal and technical side of cyber rather than on the cyber insurance policy itself, a speaker said recently at Insurance Bureau of Canada’s Commercial Insurance Symposium. “What we’ve noticed

News BrokersMergers and AqcuisitionsTechnology

Three reasons fintech is driving brokerage acquisitions

December 11, 2019 by Greg Meckbach

Disruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed

News BrokersInsuranceTechnology

‘Bring it on,’ Intact CEO tells industry disruptors

December 10, 2019 by Greg Meckbach

Canada’s largest property and casualty insurer plans to be ready for companies from outside the industry who could disrupt the brokerage side of personal lines insurance. “On the distribution side of things, I think one needs to expect that players

News Earnings / RatingsInsurance

Board finds insurance reserves regulation “invalid”

December 9, 2019 by Jason Contant

Manitoba’s Public Utilities Board (PUB) has found a recently enacted insurance reserves regulation to be “invalid.” The Reserves Regulation sets out the manner of determining the amount to be maintained by the Manitoba Public Insurance (MPI) Corporation in its reserves

News BrokersInsurance

Customers want you to text them. So why aren’t you?

December 6, 2019 by Adam Malik

Nearly seven in 10 customers want to be able to contact a business via text message but just 13% of small and medium businesses are actually using the medium to communicate with their customers, according to a recent study. While

News BrokersConstructionInsuranceRiskTechnology

Why brokers need to change cyber talking points for each client

December 6, 2019 by Jason Contant

Brokers need to focus their cyber insurance selling efforts on more than just traditional privacy risks and tailor them to specific industries, a specialist insurer said Wednesday. “Cyber is about way more than just privacy and if you explain to

News ClaimsInsurance

Why thieves love the older models of Ford pickup trucks

December 5, 2019 by Adam Malik

Ford trucks once again topped the list of most-stolen vehicles in Canada, according to the latest report from Insurance Bureau of Canada (IBC). But the thieves don’t want the new models: it turns out that nine of the 10 most

News AppointmentsBrokersInsurance

Gallagher names CEO of Canadian brokerage operations

December 5, 2019 by Jason Contant

Dave Partington has been named CEO of Gallagher’s Canadian retail property and casualty brokerage operations. Gallagher is a global insurance brokerage, risk management and consulting services firm. Partington will lead the strategy and culture for continued growth across Canada, according

News BrokersInsurance

How a lack of communication with other sectors is hurting insurance

December 4, 2019 by Adam Malik

When change hits other industries, property and casualty insurance leaders need to be included in the process to assess the impact such changes would have on insurance, says one veteran broker. Otherwise, don’t be surprised when insurance pros are caught

News BrokersInsuranceMergers and AqcuisitionsTechnology

Applied Systems to acquire Indio Technologies

December 4, 2019 by Jason Contant

Applied Systems announced Wednesday it has entered into a definitive agreement to acquire Indio Technologies, a software company that digitizes the insurance application and renewal process. The announcement comes less than two months after Applied acquired Policy Works, a major

News BrokersEmploymentInsurance

Why recruitment experts say brokers need to change their image

December 3, 2019 by Greg Meckbach

Finding it harder to recruit young people? Try explaining what insurance brokerage employees actually do, panelists advised brokers at a recent conference. “People who don’t work in the insurance industry have a distorted view of what it’s like to be