NFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release. The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,” according to the release. NFP, a P&C broker, benefits consultant, wealth manager and retirement plan […]
By Phil | June 8, 2023
2 min read
Investing in diversity, equity and inclusion (DEI) initiatives could literally spell the difference between survival and death for a brokerage, a panellist suggested Tuesday during a Canadian Underwriter webinar. Colette Taylor, chief operating officer at Sovereign Insurance, expressed concern about a recent survey that found 73% of 322 respondents indicated they evaluate talent based strictly […]
By Jason Contant | June 7, 2023
3 min read
Pricing in the representations and warranties (R&W) insurance market has softened relative to the hard market conditions experienced from the start of 2021 into the first half of 2022, industry professionals told CU. R&W insurance protects against financial loss arising from breaches in merger and acquisition (M&A) agreements. And prices for this line of insurance […]
By Phil | June 7, 2023
3 min read
Westland Insurance has acquired two Ontario-based brokerages, MYCOR Insurance Solutions Inc. and Murphy Insurance Services Inc., further expanding its fleet in the province. The acquisitions, effective June 1, will enable Westland to continue growing in Canada, “both organically and through strategic acquisitions,” the brokerage said in a press release. MYCOR Insurance is based in Toronto, […]
By Alyssa DiSabatino | June 7, 2023
1 min read
Brokerages that might not have resources to embark on large-scale diversity, equity and inclusion (DEI) programs can start small by committing to change, a speaker said Tuesday during a Canadian Underwriter webinar. “If you’re a small brokerage, maybe don’t have the resources, I think the number one thing is to make changing the situation a […]
By Jason Contant | June 6, 2023
3 min read
B.C.’s broker regulator, the Insurance Council of B.C., is now consulting on a proposed new restricted licensing framework to regulate the sale of incidental insurance, the council announced in late May. The regulator’s initiative follows the province’s Bill 37, which in 2019 enabled a restricted licence regime that allows businesses to sell insurance products incidental […]
By David Gambrill | June 6, 2023
3 min read
For the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle), personal home, auto, and life insurance in the Burlington region since 2008, according to WoodMar’s […]
By Phil | June 6, 2023
2 min read
Long-haul trucking (LHT) insurance isn’t just for cargo and trailers — coverage must extend beyond the roadway. When underwriters consider long-haul trucking risks, they should examine broader business criteria such as a fleet’s age and size, vehicle class, the distance drivers cover in a year, cargo types, level of driver experience, and adherence to vehicle […]
By David Gambrill | June 5, 2023
2 min read
With the United Conservative Party’s Danielle Smith re-elected as Alberta premier, the industry is hoping for both long- and short-term solutions to the auto issue, especially since the province’s “rate pause” makes it harder for drivers to secure coverage and may lead to insurers withdrawing capacity. For Insurance Bureau of Canada, those solutions take shape […]
By Alyssa DiSabatino | May 30, 2023
3 min read
I had the privilege of interviewing Carol Jardine on a podcast at the end of her final day before retiring as Wawanesa’s president of Canadian P&C operations. What stood out for me is how our conversation illustrated the difference between knowledge and wisdom. At this stage of her career, Jardine possesses an abundance of wisdom. […]
By Phil | May 29, 2023
3 min read