Operations
Global insurance accounts of all sizes and in all lines were hit by premium pricing increases in 2020 Q1, including increases in some areas that haven’t been seen in nearly 20 years, a new survey has found. Premiums for all accounts spiked by an average of 9.6% during the first three months of the year, […]
By Adam Malik | June 4, 2020
2 min read
The Insurance Brokers Association of Canada (IBAC)’s annual general meeting, originally scheduled this September in New Brunswick, will not be conducted in person. “We all know that we are in the throes of a global pandemic that hasn’t been experienced in over a century and may never be experienced in many of our lifetimes again,” […]
By Greg Meckbach | June 4, 2020
Many insurance professionals in the Canadian property and casualty insurance industry are taking a long-term view of the global novel coronavirus pandemic, seeing a world beyond the point at which a vaccine is developed and the virus no longer presents a major health threat. As many have noted, the industry reacted quickly when the novel […]
By David Gambrill | June 2, 2020
Your clients are putting themselves at greater risk if they’re relying on general liability instead of proper errors and omissions coverage to guard against any issues that may arise. The responsibility falls to brokers to ensure their clients have the right covers. A number of clients might think having a general liability cover is all […]
By Adam Malik | June 1, 2020
3 min read
It’s often been said that insurance is a “people business,” but establishing and maintaining personal relationships is challenged by social distancing requirements to prevent the spread of a global pandemic. Certain professional roles within the industry are perhaps more suited than others to working remotely. But what about roles within an organization that rely on […]
By David Gambrill | May 29, 2020
1 min read
Running day-to-day operations is a challenge when your employees aren’t all in the same physical location. Although the Canadian P&C insurance industry is an essential service (and is therefore allowed to keep its offices open), most the industry’s workforce has been working remotely from home since Mar. 11, when the World Health Organization declared the […]
By David Gambrill | May 28, 2020
Brokers may find it easier to persuade clients to buy insurance coverages that have been traditionally harder to sell, because the COVID-19 pandemic has turned a previously far-fetched risk scenario into a reality. “It doesn’t have to be pandemic coverage we’re talking about,” Joseph Carnevale, partner and managing director of sales at Brokers Trust Insurance […]
By Adam Malik | May 28, 2020
With the novel coronavirus pandemic creating an economic recession, the future of real estate pricing may become a factor in how some businesses choose to proceed in the post pandemic future. Some have argued that commercial real estate pricing may influence how some insurance organizations may plan to proceed with their business operations in the […]
By David Gambrill | May 25, 2020
Broker management system (BMS) tech vendors need to move away from spending time, effort and money on developing third-party rating tools used for comparison quoting, an insurance company executive said at a recent webinar on broker-carrier connectivity. Instead, they should consider working on an industry-wide quoting solution that, through APIs (application programming interfaces), connects brokerages […]
By David Gambrill | May 22, 2020
Zoom meetings can help keep people in touch and see colleagues’ faces, but it doesn’t replace the atmosphere of being in the office. That’s why one brokerage is trying to find new ways to keep employees engaged and help keep its workplace culture healthy when everyone is working from home. AA Munroe, a brokerage with […]
By Adam Malik | May 21, 2020
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