Segment
Brokers
Where brokers and insurers stand on seamless data interfaces
March 14, 2023 David GambrillWorking on application programming interfaces (API), the industry’s leading-edge technology for broker-carrier connectivity, is a lot like doing a home renovation project, said Michael Loeters, ProLink’s senior vice president of commercial insurance and risk management. “You think it’s going to…
Hub acquires two western Canadian hail insurance providers
March 13, 2023 by Jason ContantHub International Limited has acquired two western Canadian crop hail insurance companies within a two-week period. Hub announced on Mar. 4 it had acquired Leduc, Alta.-based AG Direct Hail Insurance Ltd. It acquired Regina-based Canadian Hail Agencies Inc. on Feb…
Is cyber coverage broken? And, can it be fixed?
March 10, 2023 Jason ContantNot long ago, the Canadian P&C industry’s cyber loss ratio was more than 400%, meaning cyber insurers were paying out an average of more than $4 for every $1 they received in premiums. Those first-quarter numbers from two years ago…
Erin Magilton | WTW
March 10, 2023 Philip PoradoErin Magilton, Canadian Leader, Corporate Risk & Broking, WTW Asked how she became an executive, Erin Magilton, WTW’s Canadian leader of corporate risk and broking, said the most succinct answer is that she really wanted it. “I was ridiculously fortunate…
What might cause the softening D&O market to stall?
March 8, 2023 Philip PoradoHard markets may come and go, but they seemed to stick around longer for Directors and Officers (D&O) coverage than for some other P&C industry segments. As of last fall, though, D&O availability and affordability have been improving. After several…
What the industry says about regulator’s draft corporate culture guidance
March 7, 2023 David GambrillCanada’s solvency regulator has refined its proposed guidance on corporate culture for P&C insurers, and it’s now consulting with the industry about its expectations. The Office of the Superintendent of Financial Institutions (OSFI) was scheduled to have a technical briefing…
How CSIO’s forging consistent data standards interpretation
March 6, 2023 David GambrillThe Centre for Study of Insurance Operations (CSIO)’s mandate has evolved to ensure consistent interpretation of the property & casualty (P&C) insurance industry’s data standards by insurance companies and technology vendors. “In developing the multi-year strategic plan, CSIO’s board of…
Westland expands entertainment team with latest acquisition
March 6, 2023 Jason ContantWestland Insurance has added to its entertainment team with the acquisition of Vancouver-based music insurance brokerage Shephard Ashmore Insurance Inc. The music insurance brokerage for more than 40 years pioneered music insurance programs for independent artists in the late 1970s,…
Easy ways to attract top talent
March 1, 2023 by Jason ContantP&C insurance industry employers should appeal more to what prospective job seekers are looking for, rather that simply listing a series of duties in a job posting, an executive at a recruitment firm suggested. “Job advertisements often can read more…
How to digitize your old-school brokerage
March 1, 2023 Alyssa DiSabatinoDigitizing a traditional insurance brokerage doesn’t have to break the bank, as many might believe, but the tech you pick — and how you roll it out — will make a difference to your costs. “It all depends on how…
How to digitize traditional brokerages without breaking the bank
February 28, 2023 Alyssa DiSabatinoMany brokerages adopted technology sooner than planned because of the pandemic. And now acceptance of remote work is pushing brokerages to accelerate — or in some cases, start implementing — digital strategies. It’s easy to make a case for digitizing…
Why smaller brokerages have an edge in the talent war
February 27, 2023 by Jason ContantSmaller brokerages have a competitive advantage in some instances when it comes to retaining talent as they potentially have more flexibility than their larger counterparts, a recruitment firm executive told Canadian Underwriter. Smaller brokerages can sometimes offer employees greater access…