Canadian managing general agencies (MGAs) have developed a new real-time, online platform that allows brokers to match their quote applications with MGAs underwriting that specific class of business. Once the match has been made, the platform promises to shave days,…
Navacord Corp. has appointed Greg Irvine into the newly created role of president of MGA underwriting solutions, effective Sept 6, 2022. Irvine brings more than 20 years of insurance industry experience to Navacord and will be leading all managing general…
Synex Business Performance plans to end this year with more than $1 billion in premium, a far cry from its humble beginnings of $3 million in premium just seven years ago. Currently, the Quebec City-based holding company has about $800…
Navacord Corp. has entered into a new province with the acquisition of Winnipeg-based ONYX Financial Group. ONYX’s portfolio encompasses benefits consulting and wealth management services, “and they have fortified a well-known presence within Manitoba and [northwestern] Ontario because of their…
Insurance is a relationships-based industry, but Canada’s risk professionals appear conflicted about attending in-person industry events again, even after most public health restrictions have been dropped in most provinces, a Canadian Underwriter online survey suggests. On one hand, 69% out…
One cyber insurance specialist is warning brokers and clients of a ransomware attack method that subverts common cybersecurity controls by tricking victims into phoning a call centre – rather than clicking a link – and instructing them to download malicious…
Manitoba Public Insurance (MPI) is requesting a small average auto insurance rate decrease, its fourth consecutive annual rate-decrease request. It filed a provisional 2023/24 general rate application with Manitoba’s Public Utilities Board last week, requesting an average rate decrease for…
Don Forgeron will retire as president and CEO of the Insurance Bureau of Canada after a tenure of almost 30 years. He will also retire as a member of the IBC’s board of directors. The search for Forgeron’s successor will…
Canadian Insurance Services Regulatory Organizations (CISRO) will soon be engaging Canada’s national MGA association to find out the emerging risks for the sector, the regulator said during a recent industry event. “Later this year, CISRO will be engaging CAMGA [Canadian…
Here’s some cyber security advice for your clients: time to install multi-factor authentication (MFA). In the future, that advice may morph to: Please send us a scan of all your tech vulnerabilities, so we can see what cybercriminals see. As…
Modern tech companies are moving along at a much faster pace than the insurance policies designed to protect them, says Michael Brunero, head of tech, media and intellectual property (IP) at CFC Underwriting. “We started to realize the policy that…
For years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than…