Segment
Brokers
The special insurance needs of art collectors
October 24, 2018 by Greg MeckbachA recent prank by an anonymous street artist shows that collectibles – which require special insurance – can become more valuable if they are damaged. “Normally when a piece of art is damaged, it would drop in value,” Kelly Juhasz,…
Why you might need an investment banker to help place commercial insurance
October 24, 2018 by Greg MeckbachIf your mid or large-sized commercial clients are involved in mergers and acquisitions, there are risks involved and insurance to address those risks, but it’s not like selling fire insurance. “It is not a simple case of saying, ‘Fill out…
Welcome news for employee benefit providers in Canada
October 24, 2018 by Jason ContantEmployer medical cost inflation in Canada is trending lower than global averages, which is “welcome news for employers providing employee benefits in Canada,” commercial brokerage Aon said Tuesday. For the second year in a row, medical cost inflation in Canada…
Signs of the hardening market in property lines
October 23, 2018 by Jason ContantOne multi-location brokerage in Nova Scotia is seeing hardening of property lines in the province, in line with a recent spike in property claims ratios across the country. Canadian federally regulated insurers have incurred $5.5 billion in property claims up…
Former brokerage president voted in as this city’s mayor
October 23, 2018 by Greg MeckbachEd Holder, who led a major expansion of commercial brokerage Stevenson and Hunt Insurance Brokers Ltd., is the new mayor of London, Ontario. All Ontario municipalities held elections Monday. Unofficial results published Tuesday indicated Londoners elected Holder, who was president…
Why this brokerage doesn’t focus on performance-based compensation
October 22, 2018 by Jason ContantCreating competition in the workplace is not a good environment for growing teamwork and is one of the reasons an independent insurance brokerage in Nova Scotia doesn’t focus on performance-based compensation. “Our notion on compensation is that we are trying…
Wawanesa brings U.S. learnings to Canadian brokers
October 21, 2018 by David GambrillBrokers can learn a valuable lesson from Wawanesa’s $9.5-million investment in an online platform to provide direct-to-consumer quotes for rental insurance, the company’s president of Canadian P&C operations told brokers attending the 2018 IBAO Conference last week. Don’t try replicating…
Why clients need advice on ‘litigation hot spots’
October 21, 2018 by Greg MeckbachCommercial brokers advising Canadian clients with operations in foreign countries need to understand consumer protection and pollution laws in those countries. “It’s up to a broker to make sure that he or she is well versed in what those countries’…
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,”…