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Oddballs: Unusual insurance requests lurk in the shadows

October 20, 2021 Brooke Smith

Had any insurance coverage requests for an alien abduction or a zombie attack lately? Maybe if you’re a broker in the U.S., but probably not here.   “I think in Canada, we don’t get as many ‘out there’ requests because our

News Insurance

Tips for your clients to protect against cargo theft

October 20, 2021 by Jason Contant

If your clients are carrying cargo, they should take a comprehensive and layered approach to protecting these goods, a transportation expert from Travelers said recently. This comprehensive approach consists of three layers — good processes, procedures and practices; “hard security”

News Insurance

Pandemic communication between brokers and insurers needed improvement, brokerage executive says

October 19, 2021 by Jason Contant

Communication between brokers and insurers could have been better during the pandemic, a Hub International executive said during Insurance Bureau of Canada’s 2021 Commercial Insurance Symposium. “We did have some good communication, but I think there was a little bit

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News Insurance

What brokers should know about the hardening D&O market

October 14, 2021 Canadian Underwriter Staff

As premiums continue rising and capacity keeps tightening, brokers placing directors and officers (D&O) liability insurance are grappling with an unpredictable market. “The last time we saw a hardening D&O market was during the financial crisis in the late 2000s.

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News AppointmentsBrokersProfessional DevelopmentRisk

Job opening: Lead this global Top 3 brokerage’s Canadian operation

October 14, 2021 by Greg Meckbach

If you think you have what it takes to lead Willis Towers Watson’s Canadian corporate risk and brokerage business, the job is open and it’s not too late to apply. “We’re currently interviewing,” said Ofelia Isabel, managing director, Toronto market

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News Insurance

How to prevent auto insurance fraud

October 12, 2021 Brooke Smith

There are honest drivers on the roads. In fact, a 2021 survey by ValuePenguin indicates that 78% of consumers say they’ve never lied to their auto insurers. However, 8% have “misinformed” their insurers about the drivers in their households, and

News InsuranceLegislation / RegulationMarkets / Coverages

Why open banking could ‘terrify’ brokers

October 8, 2021 by Greg Meckbach

If open banking comes to Canada, this could make it easier for fintechs and banks to offer embedded insurance and it will be hard to stop firms from using open banking data for underwriting purposes, a technology executive predicts. Open

News Insurance

The latest acquisitions from Westland and Hub

October 7, 2021 by Jason Contant

Large brokerages Westland Insurance Group Ltd. and Hub International Limited have both announced recent mergers and acquisitions activity. On Tuesday, Surrey, B.C.-headquartered Westland said it had acquired personal and commercial lines brokerage Insurance Unlimited in Mississauga, Ont. The following day,

News Insurance

How wedding insurance will adapt to a post-pandemic world

October 6, 2021 Brooke Smith

Wedding revenues dropped by almost 40% drop in Ontario last year, according to HelloSafe.ca, due largely to the COVID-19 pandemic. Wedding insurance, as a result, was also affected. Pre-pandemic, Front Row Insurance Brokers was receiving about 200 orders a month

News Insurance

Mass personalization can enhance customer experience: PwC Canada

October 5, 2021 Canadian Underwriter Staff

Accelerated digitization continues to drive strong M&A activity in P&C, with brokerages that prioritize the customer in their digitization strategies more likely to succeed. “Understanding the customer and how to change the customer experience will be the key differentiator for

News Insurance

Trusted Advisor survey calls for more proactive broker contact

October 5, 2021 Jeff Buckstein

Brokers need to be more proactive in reaching out to their business and consumer clients, according to the Canadian Underwriter Trusted Advisor 2021 survey. Only 36% of business respondents — and a considerably smaller proportion of consumers (26%) — said

News BrokersMergers and Aqcuisitions

Collectivfide acquires Brockville, Ontario brokerage

October 4, 2021 by Greg Meckbach

Collectivfide Insurance Group Inc. announced Oct. 1 it has acquired a majority stake in Brockville, Ont.-based brokerage W.C. Burgess Insurance Services Ltd. Formed in 2019, Cambridge, Ont.-based Collectivfide’s shareholders represent mutual insurance companies in Ontario and across Canada. Originally founded