Segment
MGAs
New online platform ‘Bridges’ the gap between brokers and MGAs
August 31, 2022 by David GambrillCanadian 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,…
Meet Navacord’s new president of MGA underwriting solutions
August 24, 2022 by David GambrillNavacord 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…
Behind the scenes of an aggressive brokerage consolidator
August 19, 2022 by Jason ContantSynex 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 enters new province with latest M&A deal
August 18, 2022 by Jason ContantNavacord 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…
How risk pros feel about attending in-person events in the COVID era
July 29, 2022 by David GambrillInsurance 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…
The new cyber threat: phoning a call centre
July 28, 2022 by Jason ContantOne 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…
Auto insurer seeks fourth consecutive rate decrease
July 20, 2022 by Jason ContantManitoba 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 to retire from Insurance Bureau of Canada
June 23, 2022 by Alyssa DiSabatinoDon 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…
Regulator to engage MGA sector on emerging risks
June 22, 2022 by Jason ContantCanadian 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…
The future of cyber-security: MFA and beyond
June 17, 2022 by Jason ContantHere’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…
How modern tech companies are leaving old insurance policies in the dust
May 19, 2022 by Jason ContantModern 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…
Where have all the good underwriters gone?
May 12, 2022 Gloria CilliersFor 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…