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 Live With CU panel on LinkedIn last week. Fardy is senior vice president of professional […]
By David Gambrill | February 22, 2023
5 min read
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 with CU Wednesday. Anecdotally, many P&C insurance professionals talking to Canadian Underwriter over the past […]
By David Gambrill | February 17, 2023
4 min read
By Alyssa DiSabatino | December 19, 2022
Financing is usually the last piece of the brokerage ownership puzzle, suggests one P&C financial advisor, even though 57% of young brokers see financing as their biggest obstacle to ownership, according to Canadian Underwriter survey results. Broker entrepreneurs should ensure they are building relationships with investors and creating a business plan before they stress about […]
By Alyssa DiSabatino | November 29, 2022
3 min read
With the older generation of brokers retiring, opportunities are abound for young brokers who want to buy into an existing independent brokerage, said panellists in Canadian Underwriter’s LinkedIn Live event, ‘How to become a young brokerage owner.’ “[Independent broker owners] are concerned about succession, and not everyone wants to sell out to one of the large […]
By Alyssa DiSabatino | November 24, 2022
2 min read
Want to own your own brokerage? Get familiar with the business side of things first, said a P&C financial advisor in a Canadian Underwriter LinkedIn Live panel discussion. “When I think about what makes a successful brokerage owner, most brokerage owners and entrepreneurs come from the sales side—so they know how to handle their customers, […]
By Alyssa DiSabatino | November 23, 2022
4 min read