Brokers still worry about the hard market, but what’s next?
May 1, 2023 Philip PoradoAlthough 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…
National Broker Survey: Top tech solution brokers want from carriers
May 1, 2023 Philip PoradoBrokers 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…
Brokers optimistic about growth, but support for 2 key M&A strategies declines
May 1, 2023 Philip PoradoWhile 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,…
What our 2023 survey says about broker job satisfaction
May 1, 2023 Philip PoradoBeyond recruiting challenges, data from Canadian Underwriter’s 2023 National Broker Survey show retention will continue to be a major issue for property and casualty (P&C) insurance brokers this year. The survey, answered by more than 150 brokers nationwide, asked about…
Why the P&C broker talent crunch won’t end soon
April 28, 2023 Philip PoradoWhile the hard market’s still a huge challenge for Canada’s broker distribution channel in 2023, finding qualified workers was also top concern for brokers. So said more than 150 nationwide respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey,…
Ownership critical to independence: broker exec
May 10, 2022 Gloria CilliersBrokers are justified in thinking independence is shrinking due to increased consolidation in the P&C industry, according to Lorie Phair, president of the Canadian Broker Network (CBN), Canada’s largest network of independent brokers. To think ownership does not influence a…
Broker independence is alive and well: IBAO president
April 22, 2022 by Jason ContantInsurance Brokers Association of Ontario (IBAO) president Joseph Carnevale is not concerned about a brokerage’s ownership structure, since he sees it playing no part in whether or not brokers are “trusted advisors” to clients. “Every broker in the country is…
Brokers say stress may cause them to leave industry, survey finds
March 29, 2022 Philip PoradoBeing an insurance broker has always come with its share of stress but verbatim responses to Canadian Underwriter‘s 2022 National Broker Survey found specific mentions of its impact on work satisfaction. One respondent who indicated they were highly like to…
Emerging trends in broker compensation
March 25, 2022 by David GambrillIn the midst of the ‘Great Reshuffle,’ brokerage principals are finding employee-recognition programs a better way to compensate brokers for good performance. Fifty-three per cent of the 119 brokerage managers participating in Canadian Underwriter’s 2022 National Broker Survey touted employee-recognition…
Talent crunch getting tighter, broker survey shows
March 23, 2022 by David GambrillFinding qualified talent is the biggest challenge facing almost seven out 10 Canadian brokerages right now. And the talent crunch is getting even tighter. Sixty-nine per cent of brokers report finding qualified workers their biggest challenge – a 7% increase…
Top 3 concerns of Canadian brokers
March 21, 2022 by David GambrillCanada’s hard market continues to be the Number 1 concern of brokers right now, but with the end of many COVID restrictions, brokers are starting to worry more about the growth of direct-to-consumer distribution models. Market consolidation is slowly but…
Paid The value of risks assessments
May 11, 2021 Sovereign InsuranceEvery business leader knows they should expect the unexpected, especially in today’s unpredictable world. However, when it comes to risk exposures no business should be caught by surprise. To be truly prepared, organizations should evaluate and reevaluate potential threats to…