Operations
While brokers communicate with clients for a variety of reasons, such as renewals and claims, “shooting the breeze” can be just as beneficial for the business, suggests a speaker scheduled to address next month’s Insurance Brokers Association of Ontario annual convention. “Touch base just for the hell of it,” advises author and speaker Stuart Knight. […]
By Greg Meckbach | September 25, 2018
2 min read
Legal / Regulation
Data breaches are all over the news, but convincing some corporate clients to spend in the neighbourhood of $1,000 a year for insurance coverage can be an uphill battle. Some cyber insurance products cost around $100 a year, but those are “very rudimentary,” suggests Ray Arndt, president of Lyon & Butler Insurance Brokers Ltd., based […]
By Greg Meckbach | September 24, 2018
3 min read
Artificial intelligence could help a brokerage figure out how likely a prospective client is to actually buy insurance. At least that’s what officials with Surex Direct are hoping. Magreth, Alta.-based Surex Direct places home, auto and commercial lines and says it can deliver 10 quotes online in 10 minutes or less. If a person gives […]
By Greg Meckbach | September 20, 2018
A US$6-billion merger between Marsh & McLennan Companies Inc. and Jardine Lloyd Thompson Group Plc could form the world’s largest commercial brokerage, and more mergers and acquisitions among commercial brokerages will likely to follow, a Canadian M&A expert suggests. Marsh & McLennan – Marsh Inc.’s New York City-based parent – announced Tuesday it agreed to […]
By Greg Meckbach | September 19, 2018
Canada’s two largest insurers have plans in place to provide policy documents to consumers in the event of a postal strike. Workers at Canada Post may strike as early as Sept. 26 if their union cannot reach a new contract with the Crown corporation. In the event of a strike or lockout, all mail operations […]
By Jason Contant | September 19, 2018
HR
When Matt Alston hires workers for his property and casualty brokerage, he is not looking for a walking encyclopedia of insurance. At Surex Direct, personality “always trumps technical skills and accreditations,” said Alston, Surex Direct’s co-founder and chief operating officer. “When people come and apply and they have their [Canadian accredited insurance broker] level 1 […]
By Greg Meckbach | September 18, 2018
If a US$6.4-billion deal announced Tuesday is approved, commercial brokerages Marsh and Jardine Lloyd Thompson will be owned by the same company. New York City-based Marsh & McLennan Companies Inc. says its board of directors has agreed to an acquisition of Jardine Lloyd Thompson Group Plc of London, England. JLT’s board is also agreeing but […]
There are indications the commercial insurance market in Canada is starting to see rate hardening, the president of Hub International Canada told Canadian Underwriter Friday. “It hasn’t all hit yet, so I want to be clear on that,” Tina Osen said in an interview. “The indicators are certainly pointing that way.” Osen said certain lines […]
By Jason Contant | September 16, 2018
For its latest acquisition, Quebec’s largest brokerage decided to look outside its traditional stronghold of property and casualty insurance, which represents about 90% of its revenue base. On Aug. 8, Lussier Dale Parizeau announced the acquisition of Trinome Conseils. Patrice Jean, president and chief operating officer of Lussier Dale Parizeau, told Canadian Underwriter Monday the […]
By Jason Contant | September 11, 2018
How close is the industry to consistently allowing consumers to access insurance documents electronically, such as by email? “It’s a bit of a hodge podge out there at the moment,” Colin Simpson, CEO of the Insurance Brokers Association of Ontario (IBAO), told Canadian Underwriter Wednesday. Simpson was responding to a question about how close the […]
By Jason Contant | September 6, 2018
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