Operations

Insurer-owned agency re-launches its brand

A hairy black dog wakes up, yawns and waddles down the stairs, knocking a photo askew as it goes. So begins RSA Canada’s latest video, depicting a “brand relaunch” of Johnson Inc. Using the hairy black dog as an ambassador “is our way to show our customers that we’re ready to serve you and we’ve always […]

By Greg Meckbach | July 16, 2018

2 min read

Operations

Fine for broker in business interruption coverage mix-up

A $500 fine against a Manitoba broker illustrates the importance of documenting conversations with a client when advising on business interruption coverage in a commercial insurance policy. The broker, Edward Tetrault, provided a quote to his commercial business client on Nov. 2, 2015. The quoted included a $500,000 building limit on a replacement cost basis, […]

By David Gambrill | July 13, 2018

3 min read

Operations

How blockchain will help brokers bypass traditional insurers

Vancouver-based Fineqia International Inc. has taken an equity allocation in Black Insurance, a Tallinn, Estonia-based digital insurance startup on the blockchain that has set its sights on creating a direct investor-to-broker relationship, bypassing the need for a traditional insurance company. Terms of the deal were not disclosed, but Fineqia said its investment sum represents less […]

By David Gambrill | July 12, 2018

3 min read

Operations

How this top-tier Canadian brokerage plans to double its revenue in 5 years

Navacord Inc., Canada’s fifth-largest insurance brokerage by premium volume, has entered into an agreement that will see a management-led buyout of its minority capital partner, Fairfax Financial Holdings Ltd., with the support of Madison Dearborn Partners (MDP), a leading private equity firm based in Chicago. Terms of the transaction, expected to be completed in 2018 […]

By David Gambrill | July 11, 2018

3 min read

Where capacity is tightening in general liability lines

In general liability lines, where pricing and competition are still healthy, brokers are more likely to notice windows of opportunity that are now starting to close – particularly in the hot tar and hospitality lines. “Competition is out there, capacity is still out there, and a lot of markets are still quoting on the types […]

2 min read

Looking to grow your E&O? Consider emerging classes of consultants

An emerging class of professional consultants is a new area of opportunity for brokers seeking to place errors and omissions (E&O) insurance. “We as a society have changed to become more service-oriented,” says Marilyn vanGansewinkel, vice president of specialty insurance solutions at Trisura Guarantee Insurance Company. “Where we used to do things ourselves a little […]

2 min read

Brokerlink expands Ontario presence with latest acquisition

Brokerlink, one of Canada’s largest property and casualty insurance brokerages, has expanded its presence in Ontario with the acquisition of three new brokerages. Ontario brokerages Adriatic Insurance Brokers Ltd., Magermans & Raes Insurance Brokers Ltd., and Insurance Protection Group Inc. have all announced they will be joining BrokerLink. Terms of the transactions were not disclosed. […]

2 min read

In search of cannabis product liability coverage

Brokers looking to place product liability policies for cannabis vendors might face an uphill battle. The cannabis industry “desperately” needs access to the same coverage that insurers already provide to non-cannabis businesses in agriculture pharmaceutical or manufacturing, said Wendy Sinclair, managing director of Jones Brown Inc., in a recent interview. A bill making it legal […]

2 min read

Why brokers need to stay in front of students who move away from home

Students who leave home for school represent a big opportunity for brokers to provide value-added advice on a variety of insurance coverage changes, but the key is for brokers is to get in front of the students before they make that rite of passage into adulthood. “It is something the broker should be aware of […]

3 min read

Western Financial CEO reveals the strategy behind Axion deal

When Western Financial Group acquired its first non-western Canadian brokerage last week, location obviously played a factor in its acquisition strategy. The more rural, the better, the brokerage told Canadian Underwriter Tuesday. The High River, Alta.-headquartered Western completed its acquisition of Ontario-based Axion Insurance Services on June 19. The deal allows Western Financial to add […]

3 min read