While Managing General Agents (MGAs) say their firms are here to stay, their competitors are discussing whether the specialty underwriting market is oversaturated. The topic arose in response to an audience question about whether the industry acknowledges the role MGAs play in the market, during a panel discussion at the Insurance Brokers Association of B.C. […]
By Alyssa DiSabatino | July 5, 2023
3 min read
Brokers who can effectively capture data from their broker management systems (BMS) or other digital technology tools will be able to reap the benefits not only for their brokerages but for clients as well, panellists said during a Canadian Underwriter webinar last week. Of course, this task is much easier said than done. Brokers have […]
By Jason Contant | July 5, 2023
3 min read
Intact Financial Corporation subsidiary belairdirect has announced that agencies Johnson Insurance and Anthony Insurance will both rebrand as belairdirect. Beginning this fall, the car and home division of Johnson Insurance will gradually rebrand to belairdirect, with the group benefits and travel divisions rebranding “in the future,” Johnson Insurance explained on its website. Anthony Insurance will […]
By Jason Contant | July 4, 2023
2 min read
Canada’s fourth-largest brokerage, Navacord, took another step Wednesday in building what it calls “The Great Canadian Brokerage,” announcing an M&A deal with Mitchell McConnell Insurance Ltd. in New Brunswick. Mitchell McConnell Insurance, whose legacy dates to 1927, is headquartered in Saint John, N.B. The full-service brokerage offers risk and insurance services and specializes in aquaculture […]
By David Gambrill | June 30, 2023
4 min read
Onboarding new insurance employees remains a major pain point for brokerages, but digital technology is making that process easier, attendees to a recent Canadian Underwriter webinar heard. Automation can help brokerages with marketing, business growth, sales transactions, and to connect with carriers’ back-end systems. But it is also being used to attract and retain top […]
By Jason Contant | June 30, 2023
3 min read
Editor’s Note: An original version of this article incorrectly identified Western Financial Group as Westland. Canadian Underwriter apologizes for the error. Western Financial Group now operates coast to coast following its full acquisition of Huestis Insurance and Associates Ltd. (HIAL) in the Maritimes. Western said in a press release Tuesday it closed a deal […]
By Jason Contant | June 28, 2023
2 min read
ONE Insurance and BSI Insurance are combining to form the largest Manitoba-owned brokerage network, serving the province through 28 branches in 26 different communities. The new company would bring together two of Manitoba’s oldest insurance brokers, with a total of more than 200 employees. ONE Insurance has served Manitoba’s communities for 70 years, working with […]
By David Gambrill | June 27, 2023
4 min read
Ontario-based My Insurance Broker (MIB) has joined the Canadian Broker Network (CBN). Based in Richmond Hill, MIB offers a variety of insurance products including home (as well as cottage and condo insurance), auto (Uber insurance, online auto quotes, motorcycle and RV), watercraft, business, travel and life and health insurance. The brokerage serves all of Ontario, […]
By Jason Contant | June 27, 2023
1 min read
While much of the P&C insurance industry is seeing large-scale attrition as industry veterans near retirement, one specialty underwriting firm has built a team comprised mostly of employees in their mid- to-late twenties. For TruStar Underwriting, a specialty Managing General Agent (MGA), the key to acquiring — and retaining — young talent is through investing […]
By Alyssa DiSabatino | June 26, 2023
3 min read
It’s possible the pandemic, combined with the P&C industry’s ongoing hard market, may have permanently altered how insurers assess their risk appetites. And brokers wise to this shift have adjusted their approach to advising clients accordingly. Given that insurers are more selective about choosing to do business with accounts that have low or no claims […]
By Phil | June 26, 2023
2 min read