Segment
Brokers
Strong M&A activity driven by massive push for scale, digitization: PwC Canada
September 27, 2021 Canadian Underwriter StaffThe race to achieve scale, connect digitally with customers and realize synergies are driving continued strong M&A activity in P&C insurance, a recent PricewaterhouseCoopers (PwC) Canada report suggests. Valuations remain at “historic highs” for insurance brokers and MGAs, bringing new…
Talk to your clients about auto insurance myths so they don’t see red
September 24, 2021 Brooke SmithRed cars are more expensive to insure, right? Wrong. Yet, according to a 2019 Ratehub survey, roughly 22% of respondents thought car colour had an impact on insurance rates. Several insurer and brokerage websites have blog posts titled What New…
UK-based MGA expands into Canada
September 23, 2021 by Jason ContantLondon, United Kingdom-based managing general agent Landmark Underwriting has expanded into Canada with the opening of an office location in Toronto. Landmark (Canada) Ltd. o/a Landmark Underwriting recently obtained the Registered Insurance Brokers of Ontario (RIBO) licence and is now…
How to talk to clients about higher auto premiums
September 22, 2021 Brooke SmithAuto insurance is a necessary evil — drivers can’t operate a vehicle without it. And any number of factors can increase drivers’ premiums. Sometimes it’s simply the market. “The market goes up and down over time,” said Bruce Mackay, president…
Eyes in the sky: coverage for drone usage
September 21, 2021 Brooke SmithUnmanned aerial vehicles (UAVs) — known commonly as drones — were originally a tool solely for the military. Now they’re used regularly for civilian purposes such as photography, monitoring traffic and fighting fires, said Janarthan Sivarajah, senior new business manager,…
IBAC reacts to federal election
September 21, 2021 by Greg MeckbachAs the results from Monday’s federal election come in, your national industry association is promising to educate new members of parliament on why it’s important to keep banking and insurance in separate industry silos. “We congratulate Prime Minister [Justin] Trudeau…
Understanding cyberattack techniques can improve your game
September 20, 2021 Canadian Underwriter StaffKnowing the most common cybersecurity attacks can help brokers better advise their clients on risk mitigation strategies, a Canadian cyber insurance provider has said. Selling cyber policies remains a concern for many brokers, who are struggling to keep up with…
Construction risk advice critical amidst continued supply chain issues
September 17, 2021 Canadian Underwriter StaffAdvising construction clients around risk management strategies and new exposures is critical as the industry continues to struggle through prolonged supply chain disruptions, the soaring costs of building materials and labour shortages amplified by the COVID-19 pandemic, a risk advisor…
Westland announces third acquisition in one-week period
September 15, 2021 by Jason ContantWestland Insurance Group Ltd. has announced the acquisition of Tredd Insurance Brokers in Toronto and Calgary, one week after it acquired two other brokerages in Alberta. Tredd Insurance offers commercial insurance, with specialties including but not limited to transportation, oil…
Thanks for the memory: ensure customers recall your brokerage
September 13, 2021 Brooke SmithThere are the characters: Geico’s gecko. Progressive’s Flo. There are the jingles: Nationwide is on your side. We are Farmers… These marketing tactics immediately evoke the company — and insurance. But if you’re representing many insurance companies, how do you…
What we know so far about Canadian Hurricane Larry claims
September 12, 2021 by Greg MeckbachKent Rowe cannot remember winds as bad as they were this past weekend in the Newfoundland and Labrador capital. “We saw gusts here in St. John’s of up to 145 kilometres an hour that lasted for about five or six…
Why and where Intact wants to buy more MGAs
September 12, 2021 by Greg MeckbachDon’t be surprised if Intact Financial Corp. buys managing general agents in the United States who place commercial specialty insurance. “We think there is a big opportunity at the MGA level. We are still focused on that,” Intact CEO Charles…