A war for talent in Canada’s P&C insurance industry may be inadvertently causing collateral damage in smaller and mid-sized brokers, Traci Boland, Insurance Broker Association of Canada president, tells Canadian Underwriter. That said, their smaller size may allow them to…
I’m often asked about how we grew our business. There’s no hack to achieving success. If washboard abs are your goal, one sit-up won’t do it. You need to consistently put in the effort to see results.We’re all aware of…
A former B.C. broker has been suspended for three years after making unauthorized purchases on a client’s credit card, the Insurance Council of B.C. has ruled. The province’s broker regulator ordered the suspension in February 2024, after finding that Maninder…
BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides…
To the surprise of no one in the broker channel, the ongoing hard market in cyber still plays a significant role in why clients decline to buy coverage. About 40% of brokers responding to a recent CU survey selected ‘Price…
A new teammate once asked me how to succeed in our industry. My response was simple: Ask questions, show humility, and it’s amazing how much people will help you. This is a close-knit industry. You’d be surprised at how many…
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…
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…
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…
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…
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 &…
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…