Lloyd’s is looking to address a major pain point for MGAs — duplication of compliance requests from syndicates. The insurance marketplace is looking to kickstart and facilitate conversations with syndicates on compliance and due diligence, Jane Harley, head of delegated authorities oversight at Lloyd’s, told the Canadian Association of Managing General Agents (CAMGA) conference last […]
By Jason Contant | June 13, 2023
3 min read
Aviva Canada grew its overall property and casualty gross written premiums (GWP) by 9% in 2023 Q1, largely on the strength of rate increases, a benign catastrophe season, and despite the fact claims frequency is increasing to pre-pandemic levels. In personal lines, Aviva Canada took in £497 million (roughly C$831 million) GWP, a 10% increase […]
By David Gambrill | June 12, 2023
2 min read
Post-pandemic, Canadian travellers have realized how essential travel insurance has become, with almost 90% planning to buy coverage for their next trip, shows data from Allianz Global Assistance — a leading travel insurance provider. Despite this awareness, many clients still get stuck on some misconceptions surrounding travel insurance — presenting brokers with the opportunity to […]
June 12, 2023
4 min read
OTTAWA – The Bank of Canada announced a quarter-percentage point rate hike Wednesday, the first interest rate increase since January, as high inflation persists. Its key interest rate now sits at 4.75 per cent, the highest it’s been since 2001. “Based on the accumulation of evidence, governing council decided to increase the policy interest rate, […]
By Jason Contant | June 7, 2023
2 min read
Canada’s property and casualty insurance industry already scores well in many of the things industry employees say they want from their employers, as suggested in the latest results of the Insurance Institute of Canada’s 2022-23 demographics research report. And therefore, in its recruitment efforts, the P&C insurance industry should be confident about tooting its own […]
By David Gambrill | June 1, 2023
4 min read
With increased strain on the Canadian healthcare system and the rise in demand for virtual healthcare post-pandemic, more group benefits insurers than ever are recognizing the value of digital health ecosystems. “Today, group benefits insurers are rethinking traditional business models and looking for ways to engage plan members more holistically as healthcare partners,” explains Mathieu […]
June 1, 2023
4 min read
OTTAWA – The Canadian economy grew faster than expected in the first three months of the year and likely expanded again in April, fuelling speculation that the Bank of Canada will raise interest rates again. Statistics Canada reported Wednesday real gross domestic product grew at an annualized rate of 3.1 per cent in the first […]
By Jason Contant | May 31, 2023
2 min read
Sonnet Insurance has teamed up with the digital bank Tangerine to offer customized digital home and auto insurance exclusively for Tangerine clients. “This relationship speaks to the needs of our like-minded customers who value digital-first experiences that are trusted, straightforward, and customized,” Roger Dunbar, senior vice president of Sonnet, said of the partnership in an […]
By David Gambrill | May 30, 2023
2 min read
Loyalty is trending among consumers. And there’s one sure way for your brokerage to increase loyalty among clients and get them the peace of mind they’re looking for. “Travel insurance is helping drive loyalty with insurance advisors who can help their clients experience worry-free vacations,” explains Roger Marcelo, Vice President of Business Development, Broker Channel, […]
May 29, 2023
3 min read
Post-pandemic, “Purpose” is no longer just a buzzword used by HR and communications professionals. Today, investing in strategic Purpose initiatives has become a business imperative – and Gore Mutual’s industry-leading Purpose Partnership recently proved why. The Purpose Partnership saw Gore Mutual bring together 11 brokerages with the objective of demonstrating the true business impact of […]
May 29, 2023
4 min read