Canadian Underwriter

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Brokers


News Insurance

How important is brokerage size when it comes to broker compensation?

October 27, 2021 by Jason Contant

When it comes to working with brokerages, embracing the future is more important than size, said Carol Jardine, president of Wawanesa Insurance’s Canadian P&C operations. “A broker who’s embracing the future today might not be that large, but if they

News Insurance

With 81% of polled Canadians yet to try UBI, brokers have opportunity to educate and sell

October 26, 2021 Canadian Underwriter Staff

While usage-based insurance (UBI) has been around for nearly nine years in Canada, a new survey shows only 57% of Canadians have heard of UBI and 81% of those surveyed have not tried it – presenting an opportunity for brokers

News BrokersInsuranceMGAs

Eagle Underwriting gets acquired, keeps own brand

October 26, 2021 by Greg Meckbach

Managing general agent Eagle Underwriting Group Inc. has been acquired by GroupAssur, private equity firm Novacap Management Inc. announced Tuesday. “With Eagle, the objective was to get a broader spectrum of product,” said Jean-François Raymond, president of Montreal-based GroupAssur, in

News Insurance

Survey shows brokers need to improve claims management services

October 26, 2021 Jeff Buckstein

Brokers dealing with claims management should explore ways to hone their client skills in several categories, say business respondents to Canadian Underwriter’s Trusted Advisor 2021 survey. Only 36% of respondents – commercial clients of the brokers – said they were

News Insurance

Black swan events can provide clues to assessing and managing exposures

October 25, 2021 Brooke Smith

Black swans are normally seen as improbable events (the dot-com bubble or 2008 meltdown) affecting the financial industry. But organizations must also consider the black swans that could be swimming among their many risk exposures. “It’s reasonable to expect a

News Insurance

Intact discusses RSA talent, Wawanesa looks to expand footprint in Ontario

October 22, 2021 by Jason Contant

Louis Gagnon, Intact Insurance’s president of Canadian operations, is pleased with the insurer’s integration of RSA into its operations and the calibre of talent it has acquired. At the beginning of June, Intact Financial Corporation and Danish insurer Tryg A/S

News AssociationsBrokers

Diversity, equity and inclusion: Asking the ‘uncomfortable’ questions

October 22, 2021 by Greg Meckbach

If you think it’s a challenge to improve diversity at your brokerage, you should also view it as an opportunity, Ontario brokers heard Wednesday at the Insurance Brokers Association of Ontario convention. Many brokerages are family-operated, Gore Mutual chief people

News Insurance

Average personal auto premiums drop in Q3 2021; personal property up

October 21, 2021 Phil Porado

Personal auto premium average dropped 2.7% in 2021’s third quarter compared with the same period a year ago but rose 9.4% when compared to second quarter 2021, according to the latest Applied Rating Index, which reports Canada-wide personal auto and

News Insurance

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.