Segment
Brokers
Why you might need a diversity, equity and inclusion partner
September 28, 2023 Alyssa Di SabatinoNeed some help with your brokerage’s efforts to develop a more diverse, equitable and inclusive workplace? Consider partnering with another organization to create recruiting or other interim partnerships, suggested Craig Pinnock, chief financial officer of Northbridge Financial Corporation. “These are the…
MPI employees’ strike: Where it stands
September 28, 2023 by Jason ContantManitoba Public Insurance (MPI) and the Manitoba Government and General Employees’ Union (MGEU) remain at an impasse following a five-week-long labour strike and four days of conciliator-led discussions. MPI presented what it said was its “significantly enhanced” final offer to…
How Canada’s brokers can move the needle on DEI
September 26, 2023 Alyssa Di SabatinoDon’t have the resources to embark on large-scale diversity, equity and inclusion (DEI) programs? You can still get started by simply committing your brokerage to change. “If you’re a small brokerage, maybe you don’t have the resources, I think the…
What’s driving challenges in commercial property?
September 19, 2023 by Jason ContantChallenges in the Canadian commercial property insurance market continue to be a focal point throughout 2023, primarily driven by NatCat concerns and reinsurance costs, Aon said in its Fall 2023 Insurance Market Update Canada report. “The property market continues to…
Where brokers can find opportunity in a softer D&O market
September 13, 2023 David GambrillAfter several years of a hard market, P&C industry executives report a plateau of price increases in directors and officers (D&O) lines. As fears of pandemic-fuelled losses fade, D&O lines are becoming more profitable and that’s leading to some increased…
BrokerLink continues expansion with Atlantic Canada acquisition
September 13, 2023 by Jason ContantBrokerLink continues its growth in Atlantic Canada with the acquisition of Nova Scotia-based brokerage Roger E. Strum Limited. Headquartered in Windsor, N.S., Strum Insurance has offered professional guidance for home, auto, motorcycle, recreational vehicle, boat and business insurance for more…
U.K.-based firm buys two Canada brokerages
September 12, 2023 Canadian Underwriter StaffLooks as if the summer 2023 P&C brokerage merger train will keep on rolling into the fall. Specialist insurance and reinsurance broker BMS Group has acquired Canada-based insurance brokers, Smith & Reid Insurance Brokers Ltd. and O’Neil Insurance. Smith &…
Which clients are cyber underwriters favouring?
September 11, 2023 David GambrillRecent loss ratio data suggests the hard market in cyber insurance has plateaued. In part, that’s due to underwriters being more discriminating about which risks they select for coverage. “Insurance companies have rightsized their books. They know which clients they…
Brokerage merger to form Top 10 P&C firm
September 11, 2023 by Jason ContantQuebec brokerages Fort Assurances and Gaudreau Assurances have merged to form what the two companies call one of the Top 10 damage insurance firms in the province. The new entity, which will operate under the name Fort Insurance & Group…
Westland, Hub’s latest P&C acquisitions
September 8, 2023 by Jason ContantWestland Insurance Group and Hub International Ltd. have added to their property and casualty insurance offerings through recent M&A activity. Westland Insurance acquired Saskatchewan personal and commercial lines brokerage Insurance Matters Inc., while Hub International acquired Ontario-based cannabis insurance brokerage…
How NFP’s updating construction and infrastructure operations
September 7, 2023 Philip PoradoProperty and casualty broker NFP announced it will integrate its surety practice into its Construction & Infrastructure (C&I) group, which supports companies in the construction space. These changes impact operations worldwide, including Canada, NFP said. “Surety plays a vital role…
Which coverages will lead brokers out of the hard market?
September 5, 2023 David GambrillFor several years, Canadian P&C insurance brokers climbed through a hard market in virtually all commercial specialty lines. Now, industry analysts have told Canadian Underwriter, that climb has plateaued in both the cyber and directors and officers (D&O) lines. “Now…