Legal / Regulation
Manitoba’s brokers will provide input on designing a system for online auto insurance in the province and will be involved in every digital transaction, says the provincial broker association. A recently-signed, five-year agreement between Manitoba Public Insurance (MPI) and the Insurance Brokers Association of Manitoba takes effect Apr. 1, IBAM CEO Grant Wainikka told Canadian […]
By Greg Meckbach | January 14, 2021
2 min read
Operations
Quebec brokers can now place commercial coverage with Wawanesa Mutual Insurance Company for policies starting Feb. 1. The Manitoba-based insurer announced Monday that it is offering commercial coverage in Quebec, making good on a promise made to the province’s brokers more than two years ago when Wawanesa announced it would stop writing insurance directly in […]
By Greg Meckbach | January 13, 2021
As the arrival of vaccines in Canada promise to put an end to the pandemic, insurers and brokers now face the same task as their commercial clients: Creating a business plan for the ‘new normal,’ after the threat of COVID-19 is gone. The task will require some guesswork, say the authors of a Harvard Business […]
By David Gambrill | January 8, 2021
4 min read
Insurers could distribute coverage through technology firms that adopt the managing general agent model, a Montreal expert for a venture capital fund observes. “Some technology startups are adopting the MGA model to partner with a carrier or reinsurer to distribute their product,” said Laviva Mazhar, investment associate at Luge Capital. “Some tech-driven MGAs are partnering with […]
By Greg Meckbach | January 7, 2021
Imagine future office managers more like orchestra conductors, some management analysts predict. To be clear, not everyone in the P&C industry is sold on whether working purely from home is a sustainable business model once COVID-19 lockdowns are lifted once and for all. Nonetheless, many are discussing — if not preparing for — the end […]
By David Gambrill | January 5, 2021
3 min read
As the pandemic continues to plunge Canada’s property and casualty insurance industry deeper into the digital space, regulators are issuing ongoing reminders — and warnings — about how brokers are sharing and storing their clients’ personal data. Most recently, Peter Blodgett, president of the Registered Insurance Brokers of Ontario (RIBO), the province’s broker regulator, issued […]
By David Gambrill | December 15, 2020
Compensation models based on performance continue to rise in popularity. A look at what some brokerages are doing and why…
By Jason Contant, Online Editor | December 12, 2020
The onset of the COVID-19 pandemic made it difficult to raise money from major banks to finance mergers and acquisitions, but well-run brokerages will still be attractive to buyers, suggests an expert in brokerage valuation. “When COVID hit, the banks retreated [from financing corporate deals], and one would expect they would,” said Steven Frye, a […]
By Greg Meckbach | December 10, 2020
Many brokers turned working from home into a success. What lessons can we take with us when we return to the office?
By Nick Novinger, Regional Manager (Quebec), Canadian Insurance Brokers Inc. | December 6, 2020
Meet Clint Smith, chief operating officer of Manitoba-based Andrew Agencies Ltd., which recently acquired several brokerages in Saskatchewan. Smith gave us his take on the challenges brokers face in Western Canada, the response to the COVID-19 pandemic, and the inside scoop on his brokerage’s digital strategy. cu | How is the integration of recently-acquired brokerages […]
By Greg Meckbach, Associate Editor | December 5, 2020
6 min read
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