Segment
MGAs
This line of business needs to be simplified, MGA says
August 24, 2021 by Jason ContantThe insurance industry needs to move forward and simplify intellectual property (IP) coverage for the small- and medium-sized enterprise (SME) market, a specialist insurance provider said. IP insurance typically involves long, complicated proposal forms, a fee charged to get a…
What to do when restaurant and hotel clients can’t find coverage
August 20, 2021 by Greg MeckbachCommercial brokers wanting to place coverage for restaurants and hotels need to understand how those clients were affected by the pandemic and make the best case on their risk profile to carriers, says the CEO of Insurance Brokers Association of…
How Lloyd’s insurers will react to capacity reductions in Canada
August 16, 2021 by Greg Meckbach“Constant churn” helps restore some capacity withdrawn by syndicates, though not always at the same terms and conditions, Lloyd’s Canada’s new president suggests. “When capacity is scarce in one or more syndicates, other syndicates likely view this as an opportunity,”…
CEOs becoming easy targets of ‘spear-phishing’: cyber insurance provider
August 3, 2021 Canadian Underwriter StaffWith C-Suite email credentials sold on the dark web for as little as $250 per user, Canadian CEOs could become increasing targets for “spear-phishing” attacks, a cyber insurance provider warns. The digital scam involves sending fraudulent emails from what appears…
Boom or bust: What MGAs are seeing in commercial lines
July 27, 2021 by Jason ContantWith many people still working from home, one marine underwriter has seen the pleasurecraft line of business “take off.” But that doesn’t mean it’s smooth sailing for marine underwriting. It can still be difficult finding capacity for small- or mid-sized…
How new MGA association president wants to reach out to brokers
July 26, 2021 by Jason ContantThe new president of the Canadian Association of Managing General Agents (CAMGA) is looking to bring some recognition and change to the MGA industry during her two-year term. CAMGA president and board member MaryKate Townsend told Canadian Underwriter Friday that…
Hybrid office: What brokers can learn from the parable, Who Moved My Cheese?
July 21, 2021 by David GambrillOntario brokerage Mitchell & Whale is allowing its staff to return to the office in any way they choose, a hybrid work model inspired by the 1998 best-selling book, Who Moved My Cheese? Authored by Dr. Spencer Johnson, Who Moved…
Doubled pricing, two-year recovery predicted for cyber lines, post-COVID
July 13, 2021 by David GambrillBrokers can foresee cyber pricing doubling over the next year — and it could take up to two years after the pandemic is over before the market shows signs of softening again. “I think the price has to reflect the…
Canadian MGA association selects MaryKate Townsend as president
July 12, 2021 by Jason ContantMaryKate Townsend of Pacific Marine Underwriting Managers (PMU) has been named president of The Canadian Association of Managing General Agents (CAMGA), a national trade association representing MGAs in Canada’s property and casualty insurance industry. Michael Lough of Intact Public Entities…
Looking for a quick D&O rebound after COVID? Don’t hold your breath….
July 9, 2021 by David GambrillBrokers looking to see directors’ and officers’ (D&O) insurance pricing and capacity rebound quickly after the pandemic had better not hold their breath — especially with the Canadian government now starting to pull the plug on certain COVID relief measures…
Westland buys two digital brokerages
July 8, 2021 by David GambrillWestland Insurance has acquired two digital brokerages in a move intended to expand its tech offerings to brokers, renters, and homeowners. In the first of two deals announced Thursday, Agile Underwriting Solutions, owned by Westland, has acquired managing general agency…
U.K. underwriting group buys Toronto-based insurer
June 30, 2021 by Jason ContantAccelerant Holdings has entered into the Canadian market with a share purchase agreement that includes the parent company of Toronto-based Omega General Insurance Company. Accelerant is a London, U.K.-headquartered underwriting group that works exclusively with MGAs and program administrators in…