Segment
Brokers
How smaller brokerages can level the playing field
January 23, 2024 by Jason ContantSmaller brokerages in the Canadian P&C insurance space can benefit from sharing best practices and platforms with other brokerages while still remaining independent, said the president of a family-owned brokerage in Nova Scotia. Earlier this month, Halifax-based Keyes Insurance became…
What younger job candidates want from P&C insurance jobs
January 18, 2024 Steve Whitelaw, Applied Systems CanadaCanada’s P&C insurance industry needs to adapt in three key areas to better recruit and retain prospects among Millennials and Gen Z. First, it should teach recruits tech skills specific to the P&C industry. Second, it should use digital technology…
Brokerage sees nearly 200% increase in cold weather claims
January 18, 2024 by Jason ContantWith temperatures plummeting across Canada recently, one insurance brokerage has seen a 191% increase in cold weather-related claims in the early days of 2024 compared to 2023. “Over the past couple of weeks, we’ve seen almost three times as many…
When will Canada’s insurers reach a tipping point over NatCats?
January 17, 2024 Philip PoradoIf insurers’ recent response to drastic storm and fire losses recorded in many parts of the U.S. are any harbinger, some Canadian regions may soon grapple with a future in which standard market insurers simply walk away. It’s already happening…
Your Canadian clients’ top business risks in 2024
January 17, 2024 by Alyssa DiSabatinoCanada’s top three business risks show companies are widely, and primarily, worried about disruption to their operations, according to the Allianz Risk Barometer 2024. Over half (57%) of respondents in Canada said business interruption was their number one risk,…
Two brokerages, one MGU involved in recent deals
January 15, 2024 by Jason ContantEditor’s Note: This story has been corrected to clarify that Keyes Insurance was not acquired by the Canadian Broker Network but rather joined its membership. Keyes Insurance remains a fully independent brokerage solely owned by Shaun Keyes. Canadian Underwriter apologizes…
How brokerage mergers could create tax benefits
January 15, 2024 Philip PoradoTax filing season is on the horizon, which means it’s time for Canadian brokerages and insurance companies to consider how they’ll treat GST, HST or QST payments, Yakoob Vayani, a partner at KPMG in Canada in Indirect Tax, Advisory, told…
WTW names head of personal lines for Canada, U.S.
January 10, 2024 by Jason ContantLarge brokerage WTW has appointed Despina Buganski as head of personal lines for its Corporate Risk & Broking division for North America (CRB NA). Effective immediately, both WTW’s Canadian and U.S. personal lines teams will report directly to Buganski, the…
Why growth is the name of the game for Canadian MGAs
January 9, 2024 by Jason ContantCanada’s property and casualty MGA sector will likely double in the next five years when it comes to commercial insurance market share, an industry executive told Canadian Underwriter in an interview. Currently, about 20% of commercial business is placed with…
Should insurers help customers build back better…or not at all?
January 4, 2024 Philip PoradoIncreased severity and frequency of NatCats has Canada’s P&C insurance ecosystem seeking ways to add resilience to the claims process. This includes build back better initiatives to encourage adding things like hurricane straps or hail-resistant shingling to roof rebuilds to…
McDougall’s Drayden Insurance acquires Alberta brokerage
January 3, 2024 by Jason ContantAlberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased…
2024 Executive Outlook |Greg Smith, Crawford & Company
December 27, 2023 Canadian Underwriter StaffGreg Smith, president of Canadian operations, Crawford & Company Macro industry trends, including the impact of climate on claims frequency, the growing talent gap, and technology integration, will continue to be significant stories in 2024. But fraud is an emerging trend…