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Intact’s take on regulating commercial ‘middle players’

October 26, 2020 by Greg Meckbach

Government and the industry should take a close look at the structure and regulation of “middle players” in the commercial property and casualty insurance market, Ontario brokers heard last week at their annual convention. “We know there are some things

News AdjustersBrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRisk

Industry execs to discuss how to navigate the condo insurance market

October 23, 2020 by David Gambrill

Selling and underwriting condo insurance these days is a tough gig, but the property and casualty insurance industry is no stranger to tough market cycles. Mainstream media are filled with stories about condo corporations seeing their premiums and deductibles increase,

News AssociationsBrokersMergers and Aqcuisitions

The downside of selling for 4 times multiple during COVID

October 23, 2020 by Greg Meckbach

Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15

News Insurance

Digital brokers: Should you build your own tech, or buy someone else’s?

October 22, 2020 by David Gambrill

Okay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers

News AssociationsBrokersClaimsClaims Canada

Why reinsurers are now ‘hesitant’ to support some Canadian insurers

October 22, 2020 by Greg Meckbach

One lesson from the economic disruption from COVID-19 is the importance of telling clients exactly what risks are and are not covered, an Insurance Brokers Association of Ontario panelist suggested Thursday. “Business interruption class action litigation does not attract capital

News BrokersMGAs

How Lloyd’s says the industry can make commercial policies easier to read

October 21, 2020 by Greg Meckbach

Traditional insurance policies can be hard to read on mobile devices and legalistic language can make them difficult to understand, Lloyd’s suggested in a recent report. The design and format of policy documents is important, Lloyd’s said in Building simpler

News Insurance

How COVID accelerated broker tech by 4-5 years

October 21, 2020 by David Gambrill

COVID-19 has been good for the broker channel, in the sense that it has accelerated digital growth at brokerages by at least four to five years, a digital broker told the Insurance Brokers Association of Ontario (IBAO) virtual convention Wednesday.

Feature BrokersProfessional DevelopmentTechnology

How to survive a pandemic

October 20, 2020 Rob Vosseler, Executive Vice President, Principal Broker, Union Power Insurance Brokers Inc.

A broker principal shares his story about how his fledgling brokerage managed to navigate its way through the various business disruptions caused by COVID-19

News AppointmentsAssociationsBrokersInsurance

Continuity during COVID: Executive of national broker association stands pat

October 19, 2020 by Greg Meckbach

Kent Rowe, vice president of commercial lines for Wedgwood Insurance, is staying on for another year as president of the Insurance Brokers Association of Canada. IBAC held its annual general meeting Sept. 23. IBAC announced Monday that its 2019-20 executive

News BrokersInsuranceLegislation / Regulation

Switching your client’s carrier? Don’t forget to tell the client

October 19, 2020 by David Gambrill

A Manitoba broker received a $250 fine recently for failing to advise a client that his policy had been moved to a different insurer until two weeks after the policy had expired. In its decision, the Insurance Council of Manitoba

Feature

Big Moves: New CEO at Guy Carpenter Canada

October 19, 2020 Canadian Underwriter Staff

Peter Askew succeeds Donald Callahan as president and CEO of the Canadian operations of Guy Carpenter, Marsh & McLennan’s reinsurance arm

News Insurance

NBS 2020 Broker principals reveal their favourite way to pay producers

October 16, 2020 by David Gambrill

In the dog-eat-dog world of trying to generate sales during a global pandemic, brokerage principals are increasingly turning to performance-based compensation to help improve the performance of their brokers, according to Canadian Underwriter’s 2020 National Broker Survey. Of the more