B.C. brokerage fined $20,000 for flouting rules for entry-level brokers
November 29, 2018 by David GambrillPark Georgia Insurance Agencies, a full-service brokerage in B.C., has been fined $20,000 for allowing 36 of its Level 1 general insurance agents to sell insurance outside of the brokerage on a full-commission basis and without supervision, contrary to the…
Why some brokers may shy away from using an MGA
November 28, 2018 by Jason ContantThe risk of a greater errors and omissions (E&O) exposure is a major reason why some brokers choose not to place business with a managing general agent (MGA), speakers said Tuesday at Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “We don’t…
What carriers want from this insurtech brokerage
November 27, 2018 by Greg MeckbachSome insurers are looking for brokers who can help them use big data to customize products for small businesses, an insurtech founder suggests. “Big data is a loose term,” Mark Morissette, founder and CEO of Foxquilt said Tuesday in an…
How future technology will help brokers, not replace them
November 27, 2018 by David GambrillIn a future characterized by “the trillion-sensor economy,” data will become the foundation of broker innovation, an insurtech innovator said Monday at the 2018 Top Broker Summit, hosted by Canadian Underwriter in Toronto. To prepare, brokers need to build strategies…
How consolidation can “regenerate” MGAs
November 27, 2018 by David GambrillConsolidation could potentially wind up regenerating Canada’s broker channel generally and managing general agents (MGA) specifically, a senior executive told delegates attending the 2018 MGA Symposium in Toronto on Tuesday. Organized by insurance-canada.ca, the event featured a panel of MGA…
The science behind motivating your brokerage’s employees
November 22, 2018 by Jason ContantLooking to truly motivate the employees at your brokerage? Don’t focus on financial incentives; try giving them the opportunity to be really good at their jobs, have a say in their work and do work that is meaningful, advises Bruce…
Quebec broker regulator gets new CEO
November 21, 2018 by Greg MeckbachThe regulator of Quebec’s property and casualty insurance brokers will have a new chief executive officer next week. Anne-Marie Poitras is CEO of Chambre de l’assurance de dommages (ChAD) effective Nov. 29, ChAD announced Wednesday. A former broker and claims adjuster,…
Why these two brokerages rallied around autism
November 20, 2018 by Jason ContantTwo brokerages in Ontario have combined forces to help fund an online platform that provides support and resources to the autism community. Ancaster, Ont.-based Dalton Timmis and Toronto-based RRJ Insurance won the Aviva Community Fund’s (ACF) top ranked broker-supported idea…
Why these four insurers have highly engaged employees
November 18, 2018 by Jason ContantFour insurers with “highly engaged employees” have been recognized by commercial brokerage Aon for their efforts. Allstate Insurance Company of Canada, Intact Financial Corporation (IFC), The Co-operators and Trisura Guarantee Insurance Company were platinum award recipients of the 2019 Aon…
How this broker’s exclusive insurer deal went pear-shaped
November 18, 2018 by Greg MeckbachA British Columbia broker that got acquired by a unit of The Co-operators Group Ltd. is in breach of contract with RSA Canada-owned Canadian Northern Shield, an Ontario court has ruled. In 2008, Vancity Insurance Services Ltd. was a brokerage…
Where to find your best brokers
November 16, 2018 by David GambrillThis story is one in a series reporting on the results of 2018 National Broker Survey, conducted by Canadian Underwriter. The survey of more than 800 P&C brokers nationally was designed to identify the success strategies of both producers and principals. Find other instalments in the…
Large commercial brokerage reports ‘stealth’ firming in casualty lines
November 13, 2018 by Jason ContantA recent report from commercial brokerage Willis Towers Watson has confirmed what Canada’s largest insurer is saying: the commercial insurance market is showing signs of firming as casualty losses mount. “The seemingly ‘stealth’ firming within the casualty market comes as…