Canadian Underwriter

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Brokers


News InsuranceRiskTechnology

The quaint ‘killer app’ that helps brokers talk to underwriters remotely

April 13, 2021 by Greg Meckbach

Not all meetings during a pandemic need to be structured around a videoconference call, commercial insurance experts said during a recent webinar. “I think we all have to be cautious about just loading up our entire agenda with Zoom calls

News BrokersInsuranceMergers and Aqcuisitions

Brokerage interest in M&A dips slightly in early 2021: CU survey

April 12, 2021 by David Gambrill

For Canadian brokerage principals, interest in mergers and acquisitions as a growth strategy increased dramatically in September 2020, during the second wave of the pandemic, but seems to have cooled somewhat since then, according to the results of Canadian Underwriter’s

News Insurance

How to bring the risk of catastrophic events home to your clients

April 9, 2021 by Jason Contant

Canada’s property and casualty insurance industry needs to ramp up its public education efforts to bring the risk of catastrophic events home to the Canadian population, speakers said Thursday during the virtual CIP Society Symposium 2021. “I don’t like to

News Insurance

Three large Canadian brokerages announce separate M&A deals

April 8, 2021 by Jason Contant

Three large Canadian brokerages have announced recent acquisitions of other brokerages. On Thursday, Westland Insurance reported it closed its acquisition of MBS Insurance Brokers, effective Apr. 1. Navacord Corp. added LL Renaissance Insurance Brokerage Canada Limited to its ranks, while

News Insurance

Brokers: pay attention to these insurance fraud ‘red flags’

April 7, 2021 by Jason Contant

If your client is trying to rush the insurance buying process or is not concerned about price, that’s often a red flag that the transaction is fraudulent, RSA told Canadian Underwriter recently. “We know the majority of customers aren’t looking

News BrokersInsuranceMergers and Aqcuisitions

Navacord builds up war chest to finance future M&A

April 6, 2021 by Greg Meckbach

Navacord has built up a sizeable war chest to fund future mergers and acquisitions. The Toronto-based group of brokerages recently completed $1.05 billion in financing, a portion of which is to be used to take advantage of unspecified “M&A opportunities,”

News Insurance

3 pieces of advice before selling your brokerage

March 29, 2021 by Jason Contant

Highlighting which areas of your brokerage can run without you is a crucial exercise for any broker principals who want the sale of their brokerage to be a happy and fulfilling event, according to information adapted from a recent Harvard

News BrokersClaimsEmploymentInsuranceMGAsRiskTechnology

What would a hybrid workplace even look like?

March 26, 2021 by David Gambrill

Canadian property and casualty insurance professionals would like a more flexible, hybrid workplace, a recent survey shows, but the question for employers now is what such an arrangement might look like. About 87% of the more than 1,150 P&C insurance

News AssociationsBrokersInsuranceTechnology

What’s next in IBAC’s data exchange API pipeline

March 22, 2021 by Greg Meckbach

At least one insurer plans to offer an application programming interface (API) intended to help brokers quote and bind coverage for small businesses without the aggravation of having to log into different insurer portals or send emails or faxes. Unica

News Insurance

RSA Canada approved for credit scoring in auto

March 16, 2021 by David Gambrill

Nova Scotia’s insurance regulator has approved RSA Canada’s proposed introduction of a “Quality Rating Factor” (QRF), which uses credit scoring for rating auto insurance. RSA Canada’s proposed QRF, obtained with the client’s consent, will only apply to writing new auto

News Insurance

Why this ex-broker was fined $5K for trying to get a better deal for her clients

March 15, 2021 by David Gambrill

A former Alberta broker has been ordered to pay a civil penalty of $5,000 for omitting and/or withholding client information on insurance application forms to get a better deal for her clients. The Alberta Insurance Council had already revoked Heather

News Associations

Debbie Thompson, past president, IBAO

March 12, 2021 by Greg Meckbach

Debbie Thompson, Manager, Risk and Insurance, Ontario Ministry of Government and Consumer Services Canada’s P&C insurance industry is making good progress on increasing female representation of women in the C-suite, but more needs to be done to mentor future women