Ontario’s insurance regulator has no plans to regulate fintechs or managing general agents in the near term. “We sort of feel like we have enough on our plates,” said Tim Bzowey, executive vice president of auto/insurance products for the Financial…
A U.S.-based managing general agency (MGA) is expanding into the Canadian market to serve Canada’s growing logistics and cargo industry, the company announced Tuesday. Amwins Specialty Logistic Underwriters (ASLU) specializes in covering complex risk factors of the logistics and cargo…
A United Kingdom-based investment firm has invested CAD$2 million into a Canadian managing general agent — and previews that there’s more to come. Arete Capital Partners announced last week that its investment in Shore Underwriting — which specializes in insurance…
Cyber claims morphing into directors’ and officers’ liability and the increased sophistication of the plaintiff bar in Canada are two emerging trends in D&O lines, HDI Global Specialty SE – Canada told Canadian Underwriter recently. Oren Schemool, head of financial…
To the Editor, We would like to respond to your editorial titled “Regulators, leave subscription policies alone,” dated Dec. 7, 2020. It is true that these are turbulent times in the insurance market, and that insurers have been experiencing losses…
Nearly two-and-a-half years after recreational marijuana was legalized in Canada, the country’s P&C insurance industry is starting to get a sense of the type of claims arising from the October 2018 legalization. The big issue right now is vaping, said…
More mergers and acquisitions (M&A) activity between managing general agencies (MGA) is likely in the future, since private equity is focusing on this sector, giving MGAs the fiscal tools to make acquisitions, the president and CEO of one MGA told…
Managing general agencies (MGAs) in Canada are currently engaging in very little mergers and acquisitions activity among themselves because the market is still growing organically and is less mature than in other countries, the managing director of the national MGA…
Insurers could distribute coverage through technology firms that adopt the managing general agent model, a Montreal expert for a venture capital fund observes. “Some technology startups are adopting the MGA model to partner with a carrier or reinsurer to distribute…
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…
Brokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests.…
It is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now…