Operations

What today’s P&C hybrid office looks like, post-COVID

Hybrid workplaces in the Canadian property and casualty insurance industry haven’t changed all that much since the pandemic receded from media headlines 17 months ago. And generally speaking, P&C professionals seem satisfied with their current hybrid arrangements. Canadian Underwriter surveyed more than 600 industry professionals online in October 2023. About 91% reported working in a hybrid […]

By David Gambrill | November 8, 2023

4 min read

Operations

What P&C brokerage buyers are really looking for

Buyers of Canadian P&C brokerages are becoming more selective about the brokerages they will pursue, with an increase in demand for commercial lines-focused brokerages, a new report from advisory firm Smythe LLP says. P&C consolidators continue to diversify their acquisitions, with a notable uptick in the number of life and group health acquisitions, claims management […]

By Jason Contant | November 8, 2023

3 min read

Operations

Brokerage, carrier partner up to offer digital auto coverage

Square One Insurance Services and Zurich Canada have partnered to offer personal auto insurance to Ontario drivers, with a Quebec and Alberta rollout planned for early 2024. “What sets this offering apart is our fully digital experience that allows our customers to personalize their limits, coverages and deductibles — all online — and receive their […]

By Jason Contant | November 7, 2023

2 min read

Behind the scenes of Hub’s latest Canadian acquisition

In a bid to shore up its personal and commercial insurance capabilities, Hub International Limited has acquired the assets of Quebec-based D’Onofrio Insurance Inc. Located in Laval, Que., D’Onofrio Insurance is an independent brokerage offering personal and commercial insurance to clients in the region, Hub said last month, when the acquisition was announced. Terms of […]

By Jason Contant | November 6, 2023

3 min read

Is personal cyber the new fire?

Clients are seven times more likely to fall victim to a cybercrime than a house fire. But while most homeowners realize the need to have a fire extinguisher on hand, or to cover their risks with home insurance, many aren’t taking the proper measures to protect themselves from cyber risk. In Canada, there were […]

4 min read

Industry responds to Alberta rate cap extension

Alberta’s promise to cap auto insurance rate increases for “good drivers” in the province will not help consumers achieve affordability and only put further financial strain on auto insurers, property and casualty insurance industry experts warn. Ultimately, it could lead to more insurers pulling out of the market. This means less available coverage for consumers, […]

4 min read

Alberta UCP announces return of the auto rate cap

Alberta’s United Conservative Party (UCP) is committed to retaining auto rate caps for “good drivers” into 2024, which auto insurers say would amount to keeping the auto rate cap on 80% of the province’s drivers. The province’s proposed auto insurance reforms will include further regulatory intervention, premium payment plans — and even public auto […]

4 min read

McFarlan Rowlands acquires two brokerages

McFarlan Rowlands Insurance Brokers Inc. today announced the acquisition of McConville Omni Insurance Brokers Ltd. and T.G. Colley & Sons Ltd. These acquisitions enable McFarlan Rowlands to expand in the southwestern Ontario region, the brokerage said in a release. McConville Omni Insurance has two offices based in London, Ont. and the St. Thomas region. […]

2 min read

Why McFarlan Rowlands decided to sell

A desire for scale, coupled with a rapid succession of shareholder retirements, compelled McFarlan Rowlands to sell to a subsidiary of Definity earlier this year, a senior exec told the Insurance Brokers’ Association of Ontario’s annual convention in Toronto. Despite being owned by an insurance company, the brokerage has been able to maintain its […]

3 min read

How Canadian commercial brokers help cover multinational clients

Canadian companies — in particular, energy firms — are starting to expand across the globe, and that’s when setting up a multinational, controlled master insurance program may be beneficial. “We’ve seen a number of Canadian customers expanding their operations outside of Canada into the U.S. and abroad,” Cody Smith, Intact Insurance’s manager of specialty solutions […]

By Phil | October 27, 2023

3 min read