Operations

IBAO CEO’s thoughts on McDougall-McFarlan Rowlands merger

McDougall Insurance’s recent merger with McFarlan Rowlands shows the broker distribution network continues to be a healthy investment choice, Insurance Brokers Association of Ontario (IBAO) CEO Colin Simpson told Canadian Underwriter recently. Of course, the larger independent brokerage groups become, due to the valuations involved, the smaller the number of potential and suitable acquirers for […]

By Jason Contant | May 10, 2023

3 min read

Tips for advising commercial clients during economic downturns

Inflation and the looming threat of an economic downturn would seem like a one-two punch that would make commercial clients think about ways to skimp on insurance. But it isn’t necessarily so. “Insurance is not a discretionary spend for most companies,” said Ilan Serman, regional president of Ontario at Gallagher. What clients are doing, though, is […]

By Phil | May 9, 2023

3 min read

Definity’s McDougall merges with McFarlan Rowlands 

Large Ontario brokerage McDougall Insurance Brokers Limited, a subsidiary of Definity Financial Corporation, has merged with another large provincial brokerage — McFarlan Rowlands Insurance Brokers Inc.  The combination of McDougall and McFarlan Rowlands represents more than $700 million in annual premiums, 670 employees, 56 office locations, “robust operating margins, and a track record of sustainable […]

By Jason Contant | May 8, 2023

3 min read

How OSFI wants P&C insurers to manage their third-party risks

Canada’s financial solvency regulator has published its final revised guideline for managing risks associated with third-party contracts and arrangements, having addressed industry concerns about scope, prescription and the timing of implementation. Guideline B-10: Third-Party Risk Management sets out enhanced third-party risk management expectations for federally regulated financial institutions (FRFIs). “[FRFIs] have long leveraged third-party arrangements […]

By David Gambrill | May 8, 2023

4 min read