Industry
If your clients’ homes would cost more than $3 million to re-construct, they are probably in a new target market for Intact. “We chose historically not to play in that space because we felt we could not provide a second-to-none experience,” said Charles Brindamour, CEO of Intact Financial Corp. during an earnings call Wednesday. Brindamour […]
By Greg Meckbach | November 7, 2019
2 min read
If you’re looking to craft a non-compete clause at your brokerage, don’t compare your employment agreement to other contracts in the industry. That’s one piece of advice that could be taken from a recent decision from British Columbia’s Civil Resolution Tribunal. In the ruling In A Wink Beautique (2013) Inc. v. Banich, tribunal member Trisha […]
By Jason Contant | November 7, 2019
4 min read
With the Canadian industry experiencing its lowest return on equity in 17 years, Intact’s senior leadership is not foreseeing a soft market in the short term. “To find similar [hard market] conditions, you have to go back to 2002-03,” Charles Brindamour, CEO of Intact Financial Corp., said Wednesday during a conference call, referring to premium […]
3 min read
Is your client liked by its neighbours? While that may not be your first question as a commercial broker, insurance professionals were told Tuesday the question is nonetheless important if the client is in the resources sector. “You need some level of acceptance by communities,” David Clarry, vice president of corporate social responsibility at Hudbay […]
By Greg Meckbach | November 5, 2019
Yes, you offer your clients the best rates in addition to speedy, personalized service. But so does everyone else. Here’s one way to stand out from the crowd….
By Adam Malik, Managing Editor | November 5, 2019
5 min read
Global insurance brokerage Hub International Limited has bought another Canadian firm as part of its ongoing strategy to expand its employee benefits and pension solutions. Hub announced Monday it had acquired R Bruce Inc., doing business as RBI Advisory Group. Located in Okotoks, Alta., RBI Advisory Group has provided strategic group benefit advisory services to […]
By Jason Contant | November 4, 2019
Insurance premiums are up nearly 14% for carriers owned by Fairfax Financial, and much of that is due to price increases, the holdings company’s president suggests. “In my career here – 16 years – I haven’t seen anything quite like this. It’s firming,” said Paul Rivett, president of Toronto-based Fairfax Financial Holdings Ltd. “No one […]
By Greg Meckbach | November 4, 2019
IQALUIT, Nunavut – Crucial Nunavut government services from health to justice were still impaired Monday after a weekend cyberattack locked out civil servants from access to electronic information. “We are working non-stop to resolve this issue,” said Premier Joe Savikataaq in a release. “Essential services will not be impacted and the (government) will continue to […]
Another insurer is reporting a rise in ransomware attacks. Specialist insurer Beazley said Thursday that the targeting of IT vendors by cyber criminals contributed to a 37% increase in reported ransomware incidents in the third quarter of 2019 compared to the previous three months. On Oct. 11, Chubb said malware cyber attacks are on the […]
By Jason Contant | November 1, 2019
Managing General Agencies (MGAs) in Canada have been attracting attention in the industry recently, and not just because of their hybrid status as both distributors and underwriters of insurance products. Their regulatory status in Canada is nebulous, and some are beginning to take a second look at their unique business model. Should MGAs be regulated? […]
By David Gambrill | November 1, 2019
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