New board of directors members and executive officers were named by the Insurance Brokers Association of Canada (IBAC) following confirmation of those appointments Sept. 22 during the association’s annual general meeting in St-Andrews-By-The-Sea, N.B. The executive committee will now be comprised of: Incoming president Dolan is owner and manager at Alport Insurance Agencies in Port […]
By Phil | September 29, 2022
2 min read
Startups looking to ride the upcoming M&A wave need to hold a mirror up to their businesses and see themselves through the eyes of a potential acquirer, said the author of a recent Harvard Business Review blog. And insurance startups, can get the M&A ball rolling by asking — and adapting to — these […]
By Alyssa DiSabatino | September 29, 2022
3 min read
By recent counts, more than 7,000 captive insurance companies exist globally, used primarily by multinational companies to take control of various risks. And yet, fewer than 200 of them are used to write employee benefits (EB) risks. Which means less than 3% of captives are writing EB risks like life, accident, disability (both short- and […]
By Phil | September 28, 2022
3 min read
Brokerage M&A has been hectic so far in 2022, with one firm bringing eight brokerages across Canada under its wing during the summer. Navacord today announced it closed eight acquisitions during July and August that expands the company’s presence in both group benefits and P&C in many Canadian provinces. This includes the company’s first deal […]
By Phil | September 28, 2022
2 min read
Supply chain disruptions can be circumvented if businesses start to engage in ‘friendshoring,’ one risk expert told the RIMS Canada Conference in Halifax. “Friendshoring is a polite way of saying the only people you can have in your supply chains are companies in countries that you trust,” said Janice Gross Stein, founding director of the […]
By Alyssa DiSabatino | September 28, 2022
2 min read
The chief operating officer of Canada’s largest P&C insurer is confronting a conundrum he never faced before the pandemic — he’s not sure how to get all of his employees to work in the office. It’s not an issue unique to Intact Insurance. Many executives in Canada’s P&C insurance industry are talking about how the […]
By David Gambrill | September 23, 2022
3 min read
British Columbia-based CapriCMW and Alberta-based Rogers Insurance have announced that they have merged and will be known as Acera Insurance. The merger will create a company with 1,000 employees located in more than 50 offices across Alberta, B.C., Ontario and Yukon. It will become one of Canada’s largest independent brokerages with $1 billion in gross […]
By Jason Contant | September 20, 2022
3 min read
Younger Canadians are more receptive to getting insurance advice from brokers, said a new survey commissioned by Chubb that examined attitudes across five generations. Specifically, the study found 46% of respondents in generation Z, which it defined as those born between 1997 and 2012, agreed with the statement, ‘I want [my broker/agent] to tell me […]
By Phil | September 20, 2022
2 min read
One of the best things a broker can do for a client planning to buy a used car is to provide tips for making sure that vehicle isn’t stolen, said Bryan Gast, vice president of investigative services with Équité Association. He noted legitimate online sale and auction sites offer buyers certain protections, including fact sheets […]
By Phil | September 19, 2022
3 min read
A vast majority of Canadian P&C insurance brokers don’t appear to be “quiet quitting,” a recent Canadian Underwriter online poll suggests. When brokers were asked if they adjust their weekly work hours so they align better with the compensation they receive, 82% of the 347 Canadian P&C insurance brokers polled replied “No.” “A salaried position […]
By David Gambrill | September 16, 2022
3 min read