Canada’s P&C insurance industry needs to adapt in three key areas to better recruit and retain prospects among Millennials and Gen Z. First, it should teach recruits tech skills specific to the P&C industry. Second, it should use digital technology to enable and enhance a hybrid workplace environment. Third, it can retain recruits by offering […]
By Phil | January 18, 2024
4 min read
Mitch Insurance has opened a new branch in Kingston, Ontario, with a tri-fold objective to grow its footprint organically, establish a commercial focus in the province and provide entrepreneurial brokers the chance to manage a book of business. The Kingston office is Mitch’s first branch and will specialize in commercial lines coverage while also offering […]
By Alyssa DiSabatino | January 16, 2024
1 min read
Editor’s Note: This story has been corrected to clarify that Keyes Insurance was not acquired by the Canadian Broker Network but rather joined its membership. Keyes Insurance remains a fully independent brokerage solely owned by Shaun Keyes. Canadian Underwriter apologizes for any confusion. Merger and acquisition activity in the Canadian P&C space continues strong […]
By Jason Contant | January 15, 2024
3 min read
Tax filing season is on the horizon, which means it’s time for Canadian brokerages and insurance companies to consider how they’ll treat GST, HST or QST payments, Yakoob Vayani, a partner at KPMG in Canada in Indirect Tax, Advisory, told a recent Canadian Insurance Accountants Association webinar. He noted organizations should work to ensure their […]
By Phil | January 15, 2024
3 min read
The first step to conducting research on customer needs is to ask, rather than assume, what your customers want, suggested Robin Shufelt, CEO at First Acre Insurance — a new farming MGA. Yet, despite the insurance industry investing nearly $28 billion on customer experience in 2021, fewer than half of global respondents (49%) said […]
By Alyssa DiSabatino | January 15, 2024
2 min read
Canada’s insurance regulators are paying close attention to how insurers are assessing the performance of their sales force and/or linking broker compensation to the fair treatment of consumers. In particular, they are monitoring whether brokers are being assessed using purely quantitative criteria such as increased premium volume. Canadian Council of Insurance Regulators (CCIR) numbers show […]
By David Gambrill | January 12, 2024
2 min read
P&C leaders may be able to bring staff back into the office without sacrificing the flexibility their employees want. In fact, the key to getting ‘return to office’ right is an organization’s ability to draw workers back to their desks, according to a recent episode of IdeaCast by Harvard Business Review. In the P&C industry, […]
By Alyssa DiSabatino | January 11, 2024
3 min read
Large brokerage WTW has appointed Despina Buganski as head of personal lines for its Corporate Risk & Broking division for North America (CRB NA). Effective immediately, both WTW’s Canadian and U.S. personal lines teams will report directly to Buganski, the brokerage said Tuesday in a press release. In turn, Buganski will report directly to Ionel […]
By Jason Contant | January 10, 2024
2 min read
Kicking off the new year, Stoneridge Insurance Brokers (SIB) announced two new deals to build out its offerings and presence in the country, with three additional deals expected to close within the next two months. Most recently, SIB announced its acquisition of Seymour Fair Insurance Brokers Inc., expanding its presence in southern Ontario. […]
By Alyssa DiSabatino | January 9, 2024
2 min read
Canada’s property and casualty MGA sector will likely double in the next five years when it comes to commercial insurance market share, an industry executive told Canadian Underwriter in an interview. Currently, about 20% of commercial business is placed with an MGA, said Steve Masnyk, executive director of the Canadian Association of Managing General Agents […]
By Jason Contant | January 9, 2024
3 min read