Segment
Brokers
Canadian brokerage M&A explodes out of the gate in 2020
January 7, 2020 by Jason Contant“The market for P&C brokerages and books of business is strong and will likely continue to be robust in the foreseeable future,” Mike Berris, partner and practice group leader with Smythe Advisory, predicted last August in the firm’s Property &…
One ray of light in the hard market
January 6, 2020 by Jason ContantDespite signs of hardening in certain reinsurance markets, and certainly in the primary market, general third-party liability treaties represents a silver lining in the cloud. “Many general third-party liability treaties are ancillary to traditional property treaties and have generally remained…
NFP announces leadership changes for Canada
January 6, 2020 by Jason ContantNFP, an insurance brokerage and consultant that provides property and casualty, employee benefits, retirement and individual solutions, recently announced leadership changes throughout Canada to support its rapid growth in the region. NFP has grown its Canadian team to 750 employees…
How total losses may trend in 2020
January 3, 2020 by Adam MalikWith no relief in sight regarding the escalation of auto repair costs, software and data company Mitchell predicts that insurers’ total loss volumes will continue to grow. The frequency of total loss outcomes reached 17.53% in the first half of…
“Throw-in” crime coverage: A judge’s cautionary advice to brokers
January 3, 2020 by David GambrillA recent Alberta Court of Queen’s Bench decision warns brokers not to overlook advising their clients on “throw-in” crime coverages in pre-set commercial insurance policies. The court concluded that crime coverage is “core” to a commercial insurance policy — even…
Why brokers need to keep abreast of regulatory changes for cannabis
January 3, 2020 by Jason ContantBrokers with cannabis clients need to keep an eye on the changing legal landscape and cannabis companies’ evolving needs, paying particular attention to directors’ and officers’ liability, a managing general agency told Canadian Underwriter recently. Recreational cannabis became legal in…
The first brokerage M&A deal of 2020
January 2, 2020 by Jason ContantArchway Insurance rang in the new year by announcing two new locations in southwestern New Brunswick following the acquisition of Groom Insurance Limited, effective Jan. 1, 2020. The latest addition brings the number of Archway locations to 32, with approximately…
Executive Outlook 2020 | Carol Jardine, Wawanesa
December 30, 2019 by David GambrillCarol Jardine, President, Canadian P&C Operations, The Wawanesa Mutual Insurance Company One of the most important issues facing the industry is the Canadian consumer’s pocketbook. Canadian families have never been more in debt and GDP and wage growth aren’t helping.…
Executive Outlook 2020 | Silvy Wright, Northbridge
December 27, 2019 by David GambrillSilvy Wright, President, CEO, Northbridge Financial Corporation The industry’s top priority should be helping our customers effectively navigate volatile market conditions. The challenges being faced in both commercial and personal lines are considerable, from rising auto repair costs, required auto…
Executive Outlook 2020 | Rowan Saunders, Economical
December 27, 2019 by David GambrillRowan Saunders, President, CEO, Economical Insurance Insurers across Canada are exploring new ways to embrace digital and improve customer experience in the middle of a hard market. This necessary transformation is the most important issue we face. Within the context…
Alberta strikes panel to review auto insurance, won’t bring back rate cap
December 27, 2019 Dean Bennett – THE CANADIAN PRESSAlberta is reviewing auto insurance in the province to ensure that the industry can remain viable and drivers can get affordable coverage. Finance Minister Travis Toews says Albertans are paying some of the highest rates in Canada but are having…
Top 5 pieces of advice for insurance pros
December 20, 2019 by Adam MalikThere was plenty of advice dished out at conferences over the last year, whether it was on attracting talent, how seasoned pros can help the younger generation, or how insurers can think differently. Here are some of the highlights. Flexibility…