Operations
If your mid or large-sized commercial clients are involved in mergers and acquisitions, there are risks involved and insurance to address those risks, but it’s not like selling fire insurance. “It is not a simple case of saying, ‘Fill out this application and we will get you a quote,’” said Charles Fogden, national director for […]
By Greg Meckbach | October 24, 2018
3 min read
Tech
A French robo-broker and an auto insurer backed by Canada’s largest property and casualty carrier are among the insurtechs “driving disruption” in financial services, a report released Tuesday suggests. KPMG announced Tuesday the fifth annual Fintech100, a report that highlights 100 companies that were selected by a panel of judges from both KPMG and Sydney, […]
By Greg Meckbach | October 23, 2018
2 min read
Ed Holder, who led a major expansion of commercial brokerage Stevenson and Hunt Insurance Brokers Ltd., is the new mayor of London, Ontario. All Ontario municipalities held elections Monday. Unofficial results published Tuesday indicated Londoners elected Holder, who was president of Stevenson & Hunt from 1999 through 2008, as their new mayor. Founded in London […]
Creating competition in the workplace is not a good environment for growing teamwork and is one of the reasons an independent insurance brokerage in Nova Scotia doesn’t focus on performance-based compensation. “Our notion on compensation is that we are trying to work as a team,” said Wayne Ezekiel, president of AA Munro Insurance. “[If] you […]
By Jason Contant | October 22, 2018
Brokers may wind up selling cyber insurance for automated vehicles by 2040. “Cybersecurity is a red-hot topic in the insurance world,” Sami Shaker, a physicist for Kodsi Forensic Engineering, told brokers attending a presentation on automated cars at the 2018 Insurance Brokers Association of Ontario (IBAO) last week. “These cars are going to be connected […]
By David Gambrill | October 22, 2018
Brokers can learn a valuable lesson from Wawanesa’s $9.5-million investment in an online platform to provide direct-to-consumer quotes for rental insurance, the company’s president of Canadian P&C operations told brokers attending the 2018 IBAO Conference last week. Don’t try replicating what the online direct channel is doing, advised Carol Jardine. “Hold onto what you’ve got,” […]
Small business clients gravitate to cyber insurance not for the insurance, per se, but for the accompanying services following an incident, a cyber underwriter said recently. “If you think about it in the context of car insurance, they’re buying their cyber insurance effectively not for the car claims payment, but for the breakdown cover. They […]
Facing an imminent hard market in auto insurance lines, brokers need to intensify their lobbying efforts to inform Ontario MPPs about the pricing issues associated with the auto insurance product, a senior executive of Canada’s largest insurer told brokers Thursday. “I think the activities of the brokers towards lobbying and informing the new politicians [in […]
By David Gambrill | October 18, 2018
Considering the potentially devastating effect of a cyber attack on a small business in Canada, it’s surprising to see a recent study showing that more than a third of Canadian firms do not report carrying cyber insurance coverage. “For me, when I look at a commercial client that’s not carrying cyber insurance, that’s kind of […]
4 min read
Brokers need to prepare scripts in case their staff get a flood of phone calls from clients asking how they plan to work without mail service, the Centre for Study of Insurance Operations advises. “Mail service may be interrupted indefinitely,” CSIO stated Wednesday. The Canadian Union of Postal Workers warned Tuesday that rotating strikes could […]
By Greg Meckbach | October 17, 2018
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