How to find P&C talent by acquiring wealth planning advisories
October 27, 2022 Philip PoradoFrequent announcements about Canadian P&C brokerages buying retirement and wealth planning advisories raises an interesting question: What do the acquirers offer to the employees of the firms they buy? The short answer is development opportunities, said Terri Botosan, regional president…
Insurer CEOs give their take on broker independence
October 25, 2022 by David GambrillIs broker ‘independence’ capital-agnostic? Or is broker independence truly a function of who owns the brokerage, be it a broker, an insurance company or a private equity partner? This question has been the source of a longstanding debate between brokers…
Opinion: How to end subscription policy bottlenecks
October 21, 2022 Douglas MorrowWhile the worst of the hard market in Canada is gradually drifting behind us and COVID-19 is taking something of a holiday, not all is rosy, especially for commercial lines business. Brokers worked tirelessly over the past several years to…
OSFI’s third-party guidance to include insurer-broker contracts
October 12, 2022 by David GambrillCanada’s solvency regulator is preparing guidance that legal experts say will shift the scope of the regulator’s concerns about outsourcing data and technology to a much broader inquiry about insurers’ arrangements with third parties generally — including with broker partners.…
Some brokers say they face workplace discrimination
April 8, 2022 Philip PoradoCanada likes to see itself as a leader in the areas of diversity, equity and inclusion (DEI). And while it may be ahead of certain countries, some Canadian brokerage industry employees said they have faced various forms of workplace discrimination.…
How inflation could prolong the hard market
February 25, 2022 by David GambrillInflation could prolong the hard market in Canada’s property and casualty lines, brokers caution. RMS Canada reports that inflation will hit 5% in 2022 before approaching 3% by the year’s end. “Persistent inflation is primarily due to supply constraints and…
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…
Why brokers’ virtual meetings will survive the pandemic
July 8, 2021 by Adam MalikVirtual meetings during the pandemic have allowed brokers to conduct more structured client meetings with a sharper focus, according to an expert from Aon. Sixteeen months ago, at the onset of the global pandemic, video meetings produced some confusion because…
Inactive Alberta brokerage ordered to pay $6K for failing to remit client funds to MGA
May 14, 2021 by David GambrillAlberta-based NIB Insurance Group Ltd., now an inactive brokerage, has been ordered to pay $6,000 in civil penalties for failing to remit client premiums to an MGA, and for selling a policy to a client while it was no longer…
Videoconferencing brokers setting sales records during pandemic
February 11, 2021 by David GambrillVideoconferencing brokers shattered sales records in top-tier brokerages across the country during the pandemic, senior brokerage executives reported in a recent Canadian Underwriter webinar. The results suggest virtual sales are at least as effective — if not sometimes more effective…
Executive Outlook 2021: Dave Partington, Gallagher
December 28, 2020 by Adam MalikDave Partington, CEO, Gallagher Global Brokerage – Canada The biggest change and differentiator will be how brokers access and use data. For example, the ability to benchmark coverages, limits and rates against peer groups will help our clients make better…
Executive Outlook 2021: Sarah Robson, Marsh
December 28, 2020 by Adam MalikSarah Robson, President, CEO, Marsh Canada Limited It has been a memorable year for all of us as 2020 has been particularly eventful for those of us in the insurance industry. We’re used to dealing with floods, fires, storms, and…