Why home insurers are more exposed to NatCats after the pandemic
July 4, 2022 by David GambrillWhen the pandemic, remote work and a hot housing market combined to cause more Canadians to buy homes in suburban and rural areas, home insurers may have become more exposed to NatCat losses, data from a recent Aviva study found…
Make sure wealthy clients properly insure objets d’art and memorabilia
December 9, 2021 Brooke SmithAt a November Sotheby’s auction, a well-known U.S. CEO paid US$43.2 million for a first-edition printed copy of the U.S. Constitution. It’s the the kind of purchase that prompts savvy clients to speak with an insurance broker about specialty coverage.…
Private Lives: How to ensure discretion for your HNW clients’ claims
November 23, 2021 Brooke SmithPrivacy is an essential part of insurance and for high net worth (HNW) clients, it’s even more important to be discreet — particularly if they have insurance claims. “For a HNW client, [any kind of loss] resulting in a claim…
Off Limits: What you need to tell your HNW clients about sublimits
November 12, 2021 Brooke SmithThe number of high net worth (HNW) households in Canada will reach 1.3 million over the next 10 years, according to projections by Investor Economics. For brokers, that means many more household contents limits. A contents limit provides the broadest…
Why brokers and lifestyle customers should already be thinking about winterization
August 26, 2021 Canadian UnderwriterEven though summer is not yet over, customers with motorhomes, watercraft, trailers, and cottages should already start thinking about fall and winter. In recent years, more people have taken an interest in lifestyle products, notably the younger demographic, with many…
What separates cottage thefts from city thefts
August 19, 2021 Canadian UnderwriterWith provinces across Canada lifting mobility restrictions, one survey by InsuranceHotline.com shows that 23% of Canadians are ready for a getaway — perhaps to the cabin near trees, beaches and the lake. But some cottagers may be in for a…
Insuring your camping adventure on wheels
August 12, 2021 Canadian UnderwriterPersonal lines clients who own Recreational Vehicles (RVs) need specialized insurance, and the coverage they need depends exactly on how the clients plan to use the units. Specialized RV coverage includes guaranteed replacement cost for newer trailers, emergency roadside assistance,…
Top 3 ways Mother Nature can ruin your cottage
August 5, 2021 Canadian UnderwriterWater is often touted as “the new fire,” but not in cottage country, where fire still ranks as the Number 1 cause of loss. “In personal lines, we have seen water become the new fire, or in some cases surpass…
Why avid cottagers should consider standalone coverage
July 29, 2021 Canadian UnderwriterAvid cottage enthusiasts may benefit from some of the “bells and whistles” offered in a standalone policy, as opposed to simply attaching their recreational homes to existing homeowner policies, according to a lifestyle insurance expert at Aviva Canada. Benefits of…
Boom or bust: What MGAs are seeing in commercial lines
July 27, 2021 by Jason ContantWith many people still working from home, one marine underwriter has seen the pleasurecraft line of business “take off.” But that doesn’t mean it’s smooth sailing for marine underwriting. It can still be difficult finding capacity for small- or mid-sized…
How to sell lifestyle insurance to the new demographic
July 22, 2021 by David GambrillBrokers may have noticed that clients currently looking for help with insurance for lifestyle-type products have fewer grey hairs than those who used to make such purchases. Working with younger customers, who are starting to represent a larger share of…
Why your clients should do an inspection before buying a home
July 21, 2021 by Greg MeckbachA couple who discovered a leaking bathtub after moving into their new home cannot get compensation from the sellers. A “reasonable inspection” would have revealed a water problem before Tyler and Keva Luscombe bought their home in 2020, the British…