Property and casualty insurance education is adapting to meet the needs of the industry’s desire for ‘plug-and-play’ talent that can hit the ground running, one panelist told a Live with CU presentation last week. More specifically, educational bodies are entering…
Recruiting into the P&C insurance industry has become so urgent that employers are looking for “plug-and-play” hires who can hit the ground running, leading to widespread industry poaching. “What we’re seeing [in our demographic research], and we’ve seen it since…
Prospective recruits into Canada’s property and casualty insurance industry are willing to accept a lower salary from employers if it means they can work from home, one insurance recruiter observed during a Live with CU stream Thursday. “To give…
Brokers, underwriters, and claims professionals are all feeling battle fatigue as the ongoing war for talent marches on. P&C insurance industry veterans are retiring and the worker demographic is changing. Senior leaders and managers are feeling the pressure to backfill…
If you want ultimate control and are thinking of starting up your own independent brokerage from scratch, you may want to think it through very carefully and not just jump into the deep end with your eyes closed, brokers advised…
In a world dominated by growth via mergers and acquisitions, Canadian brokerages are operating under a variety of ownership models, making the modern concept of “broker independence” very nuanced, panellists observed Thursday in a Live with CU panel discussion. “I…
Senior broker retirements, a labour shortage that’s spurring firms to bring new, inexperienced employees into brokerages, and a hybrid office may be combining to increase a broker’s errors and omissions (E&O) exposure. “It’s very difficult to track [broker E&O] claims…
Given all of the M&A activity in the broker channel over the past two decades, has the definition of what it means to be an “independent” broker changed? In Canadian Underwriter‘s 2023 national survey of more than 150 brokers, 48%…
A broker’s best defence against an errors and omissions (E&O) lawsuit can be summed up in three words — document, document, document. “You need to be able to prove you did [something],” broker E&O specialist Hugh Fardy, said in a…
The frenetic pace required for brokers to meet the Canadian P&C insurance industry’s premium growth targets — not to mention keeping current with the kaleidoscopic transformation of products — is putting brokers in harm’s way, broker E&O experts told Live…