Industry
Canadian brokers are optimistic about recent leadership changes at Intact Insurance, their faith based on the new president’s past connections with the broker channel, a Canadian Underwriter poll reveals. Louis Gagnon, Intact’s new president of Canadian operations, is a prominent former broker and well-known within the country’s broker channel. He has succeeded Jean-Francois Blais, who […]
By David Gambrill | January 29, 2018
3 min read
Oops, the industry did it again. In 2017, Canada’s property and casualty insurance industry paid out a total of $1.33 billion in insured losses following catastrophic events primarily related to climate change. It’s the fifth time over the past seven years that the industry has paid out more than $1 billion annually in catastrophe claims. […]
By David Gambrill, Editor-in-Chief | January 26, 2018
1 min read
Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), is still working towards allowing electronic proof of automobile insurance (EPAI) in the country’s most populous province, but a launch date is still to be determined, a FSCO spokesperson told Canadian Underwriter Friday. FSCO spokesperson Malon Edwards told Canadian Underwriter that the Ontario regulator is […]
By Jason Contant | January 26, 2018
2 min read
A recent earthquake off the coast of Alaska, which prompted a brief tsunami warning for British Columbia, resulted in no immediate reports of damage — but what if it did strike Canada’s westernmost province? A 2013 study by catastrophe modelling firm AIR Worldwide, commissioned by the Insurance Bureau of Canada, estimated the overall costs for […]
By Jason Contant | January 24, 2018
Greg Mansfield has received an award for his visionary approach to broker CE. Here’s what he sees for broker learners in the future.
By David Gambrill, Editor-in-Chief | January 24, 2018
Regina-based brokerage Harvard Western Insurance has acquired Saskatchewan brokerage Hoff Insurance, effective immediately. Harvard Western president and CEO Dave Pettigrew told Canadian Underwriter Tuesday that Hoff Insurance approached his firm because they wanted to be part of a larger brokerage. “Their market is really adjacent to the market that we serve, so it was a […]
By Jason Contant | January 23, 2018
Quebec brokers are pushing for a prohibition on buying property and casualty insurance over the Internet without some involvement from a broker or agent. Under the province’s proposed Bill 141, the Act respecting the distribution of financial products and services would be changed to allow companies “to offer financial products and services by technological means,” […]
By Greg Meckbach | January 23, 2018
Although brokers contemplating a merger and acquisition may be focused on the financial mechanics of the deal, they should remain mindful about the cultural fit between the merged brokerages, as well as the right strategic fit between the merged entity and its insurer partners. “Money is certainly one aspect of a merger, and there are […]
By David Gambrill | January 22, 2018
Despite last year’s devastating hurricanes, investors are happy to keep shovelling money into cat bonds and insurance-linked securities (ILS), which in turn are making reinsurers think twice about hiking rates. The catastrophe bond and ILS markets have “grown hugely over the last 12 months,” Phil Cook, CEO of Omega Insurance Holdings Inc., said Tuesday during […]
By Greg Meckbach | January 18, 2018
Given the increasing expenses required to grow a business, how can a smaller brokerage secure the funding to expand via a merger or acquisition? “There are many options in the marketplace,” said Adam Duliban, principal broker with Duliban Insurance Brokers. Duliban’s independent brokerage has acquired six brokerages in total since the inception of Duliban Insurance […]
By Jason Contant | January 17, 2018
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