Canadian Underwriter

Person running away from risk
News BrokersInsurance

Why there’s no such thing as ‘bad risk’

November 14, 2023 Adam Mitchell

New leads are crucial for any brokerage’s growth and continued business success. Although that’s a no-brainer, here’s something to remember when it comes to converting those leads into clients: there’s no such thing as good risks and bad risks. The

Diverse group working in an office.
News BrokersInsuranceLegal

Why you might need a diversity, equity and inclusion partner

September 28, 2023 Alyssa Di Sabatino

Need some help with your brokerage’s efforts to develop a more diverse, equitable and inclusive workplace? Consider partnering with another organization to create recruiting or other interim partnerships, suggested Craig Pinnock, chief financial officer of Northbridge Financial Corporation. “These are the

Multiethnic people representing workplace diversity
News BrokersInsurance

How Canada’s brokers can move the needle on DEI

September 26, 2023 Alyssa Di Sabatino

Don’t have the resources to embark on large-scale diversity, equity and inclusion (DEI) programs? You can still get started by simply committing your brokerage to change. “If you’re a small brokerage, maybe you don’t have the resources, I think the

Insurance broker using binoculars to find opportunities
News BrokersClaimsInsurance

Where brokers can find opportunity in a softer D&O market

September 13, 2023 David Gambrill

After several years of a hard market, P&C industry executives report a plateau of price increases in directors and officers (D&O) lines. As fears of pandemic-fuelled losses fade, D&O lines are becoming more profitable and that’s leading to some increased

Road forks meet to represent a merger
News Insurance

U.K.-based firm buys two Canada brokerages

September 12, 2023 Canadian Underwriter Staff

Looks as if the summer 2023 P&C brokerage merger train will keep on rolling into the fall. Specialist insurance and reinsurance broker BMS Group has acquired Canada-based insurance brokers, Smith & Reid Insurance Brokers Ltd. and O’Neil Insurance. Smith &

AI and human broker working together
News BrokersInsuranceTechnology

How artificial intelligence benefits brokers

August 31, 2023 Adam Mitchell

We’ve all seen stories about AI and what programs like ChatGPT will mean for the future of work. The general consensus – for now at least – is that it won’t replace insurance brokers. But as this technology becomes more

Economic and geopolitical risks have insurers walking a tightrope in 2023
News BrokersClimate ChangeCommercial LinesInsuranceRisk

Despite easing inflation, P&C insurers face challenges

June 27, 2023 Philip Porado

Canada’s May inflation rate slipped to an annualized 3.4%, Statistics Canada said Tuesday. That’s the lowest rate in two years and solidly below the 4.4% annual rate posted in April. It’s also in line with the Bank of Canada’s efforts

Melting ice cream to signify a softening market for commercial insurance
News Insurance

Is market segmentation helping to soften pricing?

June 14, 2023 David Gambrill

A softening, but segmented, insurance market is allowing commercial lines brokers to leave some aspects of the years-long hard market behind. Improved pricing models are one key ingredient in the ‘stability’ now seen in commercial lines, brokers observed. Carriers are

Stick shift to represent shifting focus
News BrokersCommercial LinesInsuranceRisk

Why the hard market and COVID-19 shifted brokers’ focus

June 9, 2023 David Gambrill

Commercial lines in Canada have changed in the aftermath of the pandemic. These days the monolithic ‘hard market’ has evolved into multiple markets differentiated by segmented pricing and best-in-class loss-control measures. And the commercial broker’s role has changed accordingly. After

Vice pushing on both side of businessman to represent the hard insurance market
News BrokersCommercial LinesInsuranceMarkets / CoveragesTechnology

Brokers still worry about the hard market, but what’s next?

May 1, 2023 Philip Porado

Although Canadian property and casualty (P&C) insurance brokers still call the hard market their greatest challenge, their overall level of concern is gradually waning. So found Canadian Underwriter’s 2023 National Broker Survey, in which more than 150 brokers nationwide expressed

A broker being lifted up by her team and carriers.
News BrokersInsuranceTechnology

National Broker Survey: Top tech solution brokers want from carriers

May 1, 2023 Philip Porado

Brokers worried about challenges faced when placing business during a hard market are looking to carriers for help with online claims service capabilities, said respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey polled 150 brokers nationwide about challenges

Laying a brick wall to represent building a business
News BrokersInsurance

Brokers optimistic about growth, but support for 2 key M&A strategies declines

May 1, 2023 Philip Porado

While property and casualty (P&C) insurance brokers in Canada said they’re optimistic about the future, Canadian Underwriter‘s 2023 National Broker Survey shows declining support for two key brokerage growth strategies, including M&A. When asked about expected financial performance in 2023,