Canadian Underwriter

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News BrokersInsurance

Fines struck for B.C. brokers who issued false receipts to insurers in toll bridge fiasco

February 19, 2019 by David Gambrill

EDITOR’S NOTE:  The story has been corrected to show that FICOM’s position before the Financial Services Tribunal was that the financial penalties were deemed to be insufficient to deter brokers from misrepresenting facts. A previous version incorrectly stated that FICOM’s

News BrokersInsuranceMergers and Aqcuisitions

Atlantic Canada brokerage acquires family-owned operation

February 15, 2019 by Jason Contant

Archway Insurance, one of Atlantic Canada’s largest brokerages, has announced the acquisition of family brokerage George Mitchell Insurance in Liverpool, N.S. Amherst, N.S.-headquartered Archway announced the acquisition Thursday. Effective Feb. 28, 2019, Archway’s latest acquisition brings its number of locations

News BrokersMergers and Aqcuisitions

Hub continues expansion into employee benefits

February 12, 2019 by Greg Meckbach

Hub International Ltd. has bought another Canadian employee benefits operation. Chicago-based Hub announced Tuesday it has acquired the assets of Toronto-based Firstbrook Pointon Benefits Incorporated. Tuesday’s announcement comes a month after Hub acquired Vancouver-based TRG Group Benefits and Pensions Inc. Firstbrook

News BrokersInsuranceTechnology

How your brokerage might benefit from partnering with an innovation hub

February 11, 2019 by Jason Contant

A brokerage in Nova Scotia has partnered with an innovation hub in Atlantic Canada to “up its game” in the digital space. AA Munro Insurance, which has more than 20 locations in Nova Scotia, has partnered with Volta Labs. This

News Insurance

Common misconceptions about business interruption insurance

February 8, 2019 by Jason Contant

One strong challenge to the broker channel, according to brokers, is consumer self-education about their insurance needs and options. Nowhere is this more evident than in the field of business interruption (BI) insurance, a very specialized coverage that is rife

News BrokersClaimsInsuranceReinsurance

Executive challenges brokers regarding earthquake take-up rates in Quebec

February 8, 2019 by Jason Contant

Sparks flew during a recent conference discussion about mortgage impairment and earthquake loss, when a senior reinsurance company executive drew a link between the practices of Quebec brokers and the low take-up rates of earthquake insurance in the province. Philipp

News BrokersMergers and Aqcuisitions

Intact’s appetite for cross-border mergers

February 8, 2019 by Greg Meckbach

Intact Financial Corp. is not ruling out the possibility of buying a commercial brokerage or managing general agent in the United States. “We are doing a lot of work to understand the opportunities in distribution in the U.S. and will

News InsuranceMarkets / Coverages

What commercial brokers are saying about the worrisome market turn

February 4, 2019 by David Gambrill

Whether the industry faces a hard market or simply a “market correction,” commercial lines premiums are definitely on the rise, Canadian commercial brokers reported in an online poll by Canadian Underwriter. And they are starting to get concerned about it.

News BrokersInsuranceProfessional Development

Why being a broker is the best job ever

January 31, 2019 by Jason Contant

The feeling that their opinions are heard and often implemented is just one of the reasons brokers report being satisfied with their choice of career. “I truly believe that I am a valued professional advisor,” Ryan McKenna, commercial and personal

News BrokersInsurance

Customer retention advice for brokers from Wawanesa

January 30, 2019 by Greg Meckbach

Every time a client submits a claim to their carrier, you as the broker  need to follow up with a phone call, suggests Carol Jardine, president of the Canadian property and casualty operations of Wawanesa Mutual Insurance Company. “I would

News ClaimsClimate ChangeInsurance

Flood risk guidance for commercial brokers coming soon

January 25, 2019 by Greg Meckbach

A standard on flood resiliency for commercial real estate could be coming out this year. The Intact Centre for Climate Adaptation is working on a document intended to help commercial insurance brokers and real estate companies reduce flood risk for

News BrokersInsuranceTechnology

How you can scale your expertise through social media

January 25, 2019 by Jason Contant

Brokers may not want to invest heavily in social media, but a lot of opportunity exists at little to no cost. “It’s always a question of how do you scale your expertise; by using social media, you can just reach