One key element of creating a farm-specific MGA was the need to introduce proprietary technologies. Brokers of late have expressed concerns about the proliferation of new portals, which many see as a burden. “The first thing is acknowledging it is a burden. You’re introducing new technology that needs to be learned. That’s another step in […]
By Phil | April 4, 2024
3 min read
Commercial truck fleets trying to get more favourable insurance rates by only reporting the trucks on the road, and not the ones on their lots, might find themselves outwitted by the industry’s scrutiny, sources tell Canadian Underwriter. But whether due to policy misunderstandings or attempts to game the system, the industry has ways to address […]
By Alyssa DiSabatino | April 3, 2024
2 min read
Canadian property and casualty insurance brokerages are gravitating towards personalized communication automation (PCA), an executive at brokerage automation company Pathway tells Canadian Underwriter. Nine years ago, only about 3% of insurance brokerages had adopted PCA into their operations, says Alek Mirkovich, CEO and co-founder of Toronto-based Pathway, a provider of insurance automation tools for brokerages/agencies […]
By Jason Contant | April 2, 2024
3 min read
If your brokerage is looking to solve its labour retention problems, consider this: The more diverse a P&C brokerage’s leadership team is, the less likely staff are to consider leaving their jobs. So finds a Canadian Underwriter survey, asking P&C industry respondents which factors would cause them to leave their employers or consider other job […]
By Alyssa DiSabatino | March 28, 2024
3 min read
Desjardins’ acquisition of The Insurance Company of Prince Edward Island (ICPEI) will enable the direct writer to diversify its distribution model and expand its national reach, Desjardins General Insurance Group president and chief operating officer Valerie Lavoie tells Canadian Underwriter. The acquisition is also closely linked to Desjardins’ commercial lines strategy, Lavoie shares. “[We] distribute […]
By Alyssa DiSabatino | March 28, 2024
2 min read
Imagine a brokerage having to hire someone just to open electronic documents (eDocs) from insurance companies to find out what they’re about. And yet, that’s exactly what happens when insurance companies send eDocs to brokerages with catch-all titles such as ‘Memo.’ “What document has been received?” a broker may wonder. Is it an auto policy […]
By Phil | March 27, 2024
4 min read
Direct writer Desjardins is acquiring the Insurance Company of Prince Edward Island (ICPEI), an insurer that distributes solely through the broker channel. “With this acquisition, we’re strengthening Desjardins’ position in the Canadian commercial insurance market,” Guy Cormier, Desjardin’s president and CEO, said of the deal Wednesday. “We’re committed to meet the changing needs of our […]
By David Gambrill | March 27, 2024
2 min read
Southampton Financial Inc., a private equity firm focused on the Canadian property and casualty insurance distribution space, has agreed to acquire Onlia Insurance from Achmea and Fairfax Financial Holdings Ltd. Headquartered in Toronto, Onlia is a digital insurance agency that has built a rapid presence in the Ontario marketplace with its direct-to-consumer brand. Its integrated […]
By David Gambrill | March 26, 2024
3 min read
The words ‘technology’ and ‘farm insurance’ aren’t always mentioned in the same breath. Historically, farm insurance providers do most of their business through offer and acceptance — sending either online or paper applications to clients. Underwriters and brokers then use various tools to assess risk. But a new entrant is seeking to expand digital opportunities […]
By Phil | March 25, 2024
3 min read
Deanna Brewer is NFP’s new senior vice president and account manager for surety in Canada. A P&C insurance industry vet with more than 25 years of experience in the surety business, Brewer was appointed for her technical knowledge and strategic thinking in managing complex contract surety facilities. Before joining NFP, she was a senior surety […]
By David Gambrill | March 21, 2024
2 min read