Segment
Brokers
Brokers need to intensify lobby on auto file: Intact president
October 18, 2018 by David GambrillFacing an imminent hard market in auto insurance lines, brokers need to intensify their lobbying efforts to inform Ontario MPPs about the pricing issues associated with the auto insurance product, a senior executive of Canada’s largest insurer told brokers Thursday.…
Covering Small Business Cyber Exposure
October 18, 2018 David GambrillConsidering the potentially devastating effect of a cyber attack on a small business in Canada, it’s surprising to see a recent study showing that more than a third of Canadian firms do not report carrying cyber insurance coverage. “For me,…
How new tax laws could affect brokers’ retirement plans
October 18, 2018 by Greg MeckbachBrokerage owners looking for ways to reduce their tax bill could have more incentive in 2019 to max out their registered retirement savings plan, a tax expert told Canadian Underwriter. For some family-owned businesses, there is “an added reason” for…
How brokers should prepare for Canada Post strike
October 17, 2018 by Greg MeckbachBrokers need to prepare scripts in case their staff get a flood of phone calls from clients asking how they plan to work without mail service, the Centre for Study of Insurance Operations advises. “Mail service may be interrupted indefinitely,”…
IBAC announces new president
October 16, 2018 by Greg MeckbachChris Floyd, president of individual insurance services at the Ontario Teachers Insurance Plan (OTIP), is the new president of the Insurance Brokers Association of Canada. IBAC announced Monday its new leadership team, which was confirmed October 5 at its annual…
How brokers should define cyber to clients
October 16, 2018 by Jason ContantCyber insurance needs to be explained using plain language, rather than by “insurance people using insurance-isms,” a large cyber underwriter said recently. “Part of the problem with cyber is the fact that it’s called cyber,” said Andy Holmes, chief underwriter…
Why cyber insurance discussions should include real estate agents
October 15, 2018 by Jason ContantBrokers scoping out new leads for selling cyber should consider this new opportunity in the professional class: real estate agents. Real estate agents move large sums of money when houses are selling. There is also typically a time cluster when…
3 Ways to Win Over the Small Business Owner
October 14, 2018 Plamen PetkovPlamen Petkov, vice president of Ontario and business resources at the Canadian Federation of Independent Business, which represents 110,000 small businesses across Canada, provides insight to help brokers forge successful business partnerships with small business owners. DO: Establish very clearly…
A new, faster way to show your clients their options
October 14, 2018 by Jason ContantBrokers in Canada have a technology platform available that allows them to customize different insurance coverages, or offer next-day service, through a self-serve app. The app provides a base quote for a customer. The broker can then use sliders to…
National brokerage A.P. Reid Insurance steps up acquisition strategy
October 14, 2018 by Jason ContantNational brokerage A.P. Reid Insurance Limited has announced its intention to acquire Wardell Insurance Limited effective Jan. 1, 2019. Following the completion of the transaction, Wardell’s Burlington, Ont. office and A.P. Reid’s office in nearby Waterdown, Ont. will merge into…
How this commercial brokerage addresses skills shortages
October 14, 2018 by Greg MeckbachBrokerage owners in some regions are struggling to find staff who know commercial lines. “There are very few people (in Saskatchewan) who understand commercial insurance deeply,” said David Reidy, president and CEO of Regina-based commercial brokerage Henderson Insurance Inc. To…
What brokers need to know about setting up a chatbot
October 11, 2018 by Jason ContantBrokers looking to set up a chatbot on their site should know the core business purpose of the chatbot and how to manage customer expectations, Mitchell & Whale Insurance Brokers said recently. “Do you want it to answer common customer…