Segment
Brokers
The quaint ‘killer app’ that helps brokers talk to underwriters remotely
April 13, 2021 by Greg MeckbachNot 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…
Brokerage interest in M&A dips slightly in early 2021: CU survey
April 12, 2021 by David GambrillFor 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…
How to bring the risk of catastrophic events home to your clients
April 9, 2021 by Jason ContantCanada’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…
Three large Canadian brokerages announce separate M&A deals
April 8, 2021 by Jason ContantThree 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…
Brokers: pay attention to these insurance fraud ‘red flags’
April 7, 2021 by Jason ContantIf 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…
Navacord builds up war chest to finance future M&A
April 6, 2021 by Greg MeckbachNavacord 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,”…
3 pieces of advice before selling your brokerage
March 29, 2021 by Jason ContantHighlighting 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…
What would a hybrid workplace even look like?
March 26, 2021 by David GambrillCanadian 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…
What’s next in IBAC’s data exchange API pipeline
March 22, 2021 by Greg MeckbachAt 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…
RSA Canada approved for credit scoring in auto
March 16, 2021 by David GambrillNova 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…
Why this ex-broker was fined $5K for trying to get a better deal for her clients
March 15, 2021 by David GambrillA 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…
Debbie Thompson, past president, IBAO
March 12, 2021 by Greg MeckbachDebbie 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…