BrokerLink continues to expand in Ontario and Alberta with the acquisition of three more brokerages in those provinces. The Intact Financial Corporation subsidiary acquired D.G. Smith Insurance Brokers and Teck Insurance Brokers Limited (both Ontario-based) and Robinson Insurance Centre of Alberta, all of which closed Nov. 1. “All three acquisitions enable BrokerLink to contribute to […]
By Jason Contant | November 8, 2022
2 min read
What’s the biggest barrier to brokerage ownership for the 30% of brokers who aspire to one-day buy their own firm? Financing, according to results from a Canadian Underwriter online survey. Of the 30% of broker respondents who want to own, exactly half said ‘yes’ without reservation, while the remainder said ‘yes’ conditionally. When asked for details, […]
By Alyssa DiSabatino | November 8, 2022
3 min read
It’s important for women in Canada’s insurance industry to hear stories about the paths other women leaders have taken to achieve success, said the winner of a national leadership award from the Insurance Institute of Canada. “We need to give more visibility to the stories of successful women leaders in our industry,” said Renée-Léa Soucy, […]
By Jason Contant | November 8, 2022
3 min read
Succession planning is a key component of the acquisition strategies employed by P&C brokers buying wealth management, retirement planning and employee benefits advisories. That said, P&C brokerage buyers aren’t looking for the sellers to leave right away after the sale. The goal is to find people with runway, said Terri Botosan, regional president of employee […]
By Phil | November 4, 2022
3 min read
Mentorship and training are the best ways to support young brokers who aspire to senior leadership or brokerage ownership roles, say brokers responding to a Canadian Underwriter online survey. However, brokerage principals and their employees aren’t fully aligned on how effectively these opportunities are presented, according to responses from 222 brokers. Almost half (48%) of […]
By Alyssa DiSabatino | November 4, 2022
3 min read
MONTREAL – An Indigenous Quebec man who was denied car insurance because he lived on a reserve was the victim of race discrimination, the province’s human rights commission concluded in a recent decision. Alexis Wawanoloath, a lawyer and ex-Parti Quebecois member of the legislature, told a news conference Thursday he welcomed the decision stemming from […]
By Alyssa DiSabatino | November 4, 2022
3 min read
Six out of ten employers don’t really understand what motivates their salespeople, which may cause their top sales producers to seek work elsewhere, according to a Harvard Business Review blog. While employers are responding to staff burnout by tweaking the traditional motivational tools of compensation and recognition/rewards programs, these methods may not be getting at […]
By David Gambrill | November 3, 2022
3 min read
Companies that don’t employ, at the very least, a hybrid work option, can expect an increase in employee turnover. “And what that means is losing talented employees to other organizations,” said hybrid work expert Hassan Osman at the Insurance Brokers Association of Ontario (IBAO) Convention in Toronto. “During the pandemic, a lot of people have […]
By Alyssa DiSabatino | November 2, 2022
3 min read
Collectivfide Insurance Group has closed the acquisition of majority stakes in two Ontario-based brokerages, its 7th and 8th deals since its formation in 2019. “We are continuing to achieve our goal of growing and protecting mutual volume with the addition of these two brokerages into the Collectivfide network,” said Collectivfide Insurance Group president and CEO […]
By Jason Contant | November 1, 2022
2 min read
Market conditions remain complex but are stabilizing as the industry approaches its last quarter this year, Aon’s 2022 Canadian Insurance Market Report found. Increased competition, along with positive underwriting results and loss activity, marks a transition from significantly challenged market results toward profitable growth. Signs of growth or improvement are showing across commercial property, casualty, […]
By Alyssa DiSabatino | November 1, 2022
3 min read