A war for talent in Canada’s P&C insurance industry may be inadvertently causing collateral damage in smaller and mid-sized brokers, Traci Boland, Insurance Broker Association of Canada president, tells Canadian Underwriter. That said, their smaller size may allow them to pivot more easily when it comes to offering hybrid workplaces. In CU’s 2024 National Broker […]
By David Gambrill | March 19, 2024
3 min read
I’m often asked about how we grew our business. There’s no hack to achieving success. If washboard abs are your goal, one sit-up won’t do it. You need to consistently put in the effort to see results.We’re all aware of our industry’s talent shortage. Just like getting physically fit, there isn’t a silver bullet solution […]
By David Gambrill | March 19, 2024
3 min read
Across the country, commercial lines P&C broker executives and commercial lines team leads make more money on average than their personal lines counterparts, Impact Recruitment’s newest data shows. The second iteration of Impact’s annual Insurance Salary Guide shows base pay ranges based on experience level and breaks the numbers down per province. Although the report […]
By Alyssa DiSabatino | March 18, 2024
3 min read
Patrick Ballantyne, CEO of Ontario’s insurance broker regulator since 2016, is now board chairman at the Canadian Insurance Services Regulatory Organizations (CISRO). CISRO is a national forum of Canadian regulatory authorities dedicated to consistent qualifications and conduct of business standards for insurance brokers and intermediaries. Ballantyne succeeds outgoing chairman, Eric Jacob, who was named as […]
By David Gambrill | March 14, 2024
2 min read
All-Risks Insurance Essex has been acquired by Ives Insurance, a Navacord-owned brokerage. The acquisition marks Navacord’s third deal of the year. Based in Southwestern Ontario, All-Risks Insurance’s Essex branch joins the Navacord fold, effective Mar. 1. The entire All-Risks team will join the brokerage including third-generation broker and managing partner Josh Lazarus. “With […]
By Alyssa DiSabatino | March 14, 2024
1 min read
Geopolitical conflict is wreaking havoc on your business clients’ supply chains, a new Marsh report finds. It’s required businesses to find better ways to mitigate or transfer specific risks before they develop into something of concern, according to Marsh Specialty’s 2024 Political Risk Report. The risk of geopolitical conflict has increased since the pandemic, […]
By Alyssa DiSabatino | March 13, 2024
3 min read
A former B.C. broker has been suspended for three years after making unauthorized purchases on a client’s credit card, the Insurance Council of B.C. has ruled. The province’s broker regulator ordered the suspension in February 2024, after finding that Maninder (Mandy) Kaur Sandhu had used a client’s credit card information to make a $146 purchase […]
By David Gambrill | March 13, 2024
3 min read
There’s a 37% chance your clients are making changes to their driving routines, and that means they may need to update their auto coverage, according to a recent survey by RatesDotCa. Canadians who are planning to make changes to their current driving routines are doing so by driving less to save on gas, delaying […]
By Alyssa DiSabatino | March 11, 2024
2 min read
BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides home, auto, business and farm insurance to customers in the Owen Sound region. The 70-year-old […]
By Phil | March 8, 2024
2 min read
Potential risks stemming from P&C insurers’ managing general agent (MGA) outsourcing practices have caught the eye of Ontario’s insurance regulator, and it’s looking for feedback from stakeholders on a supervision plan. Insurers and MGAs alike have begun to weigh in on the matter and advise Ontario’s Financial Services Regulatory Authority (FSRA) on how best […]
By Alyssa DiSabatino | March 7, 2024
4 min read