Canadian managing general agencies (MGAs) have developed a new real-time, online platform that allows brokers to match their quote applications with MGAs underwriting that specific class of business. Once the match has been made, the platform promises to shave days, if not weeks, off the time it takes for brokers to hear back from MGAs […]
By David Gambrill | August 31, 2022
4 min read
As insurance becomes increasingly digitized, brokers and other professionals may feel as if they’re spending more time toggling between apps and websites than they are doing their jobs, but there may be a better way to spend the workday, according to research published in Harvard Business Review. Toggling fatigue is becoming increasingly common in business, […]
By Alyssa DiSabatino | August 31, 2022
3 min read
A federal government task force on flood insurance is leaning toward the public insurer and layered public insurer models of flood insurance programs for Canada. The public insurer model features a Crown corporation that underwrites comprehensive flood insurance through the insurance industry as an intermediary, with an automatic government backstop. Unlike models in which a […]
By Alyssa DiSabatino | August 30, 2022
4 min read
Just when pandemic chaos was starting to ease, the light that Canada’s commercial insurance brokers saw at the end of the tunnel is starting to look like an onrushing train named the Recession Special. With recent lifting of COVID-19 public health restrictions, many insurance experts predicted an economic recovery would lead some of the hardest-hit […]
By Phil | August 30, 2022
3 min read
Saskatchewan Government Insurance statistics show a record this year in impaired driving offences. The province’s law enforcement stopped 497 impaired drivers, including 292 drivers who were charged with Criminal Code offences this July, according to SGI’s Traffic Safety Spotlight. “While not an all-time record high, this is the most impaired driving offences in a single […]
By Alyssa DiSabatino | August 29, 2022
2 min read
Product orders from giant online retailers like Amazon are now being filled and shipped from Canada – proof the logistics chain is evolving. But this also means Canadian companies storing and shipping goods under contract for these retailers need protection, such as legal liability for damage to goods. Marine insurance is multi-faceted and evolving, and […]
By Phil | August 29, 2022
3 min read
Lloyd’s ‘remedial’ actions are working — after turning its first underwriting profit last year since 2016, Lloyd’s market is expected to have a robust underwriting performance in 2022 through 2024 as rates harden across many lines, predicted credit-rating agency S&P Global. Much of the improvement in Lloyd’s underwriting performance has been a reflection of […]
By Alyssa DiSabatino | August 25, 2022
3 min read
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Inflation is one of the most pressing political and economic issues of the moment, but there are many misconceptions about how inflation is measured, where it […]
By Alyssa DiSabatino | August 24, 2022
5 min read
Navacord Corp. has appointed Greg Irvine into the newly created role of president of MGA underwriting solutions, effective Sept 6, 2022. Irvine brings more than 20 years of insurance industry experience to Navacord and will be leading all managing general agency (MGA) and underwriting businesses across Canada. Navacord recently developed the position as part of […]
By David Gambrill | August 24, 2022
2 min read
Famed Canadian civility may be a thing of the past, and Canadian P&C brokers would probably know best, since they have been caught in the crossfire of frustrated clients and unprofitable insurers for the better part of two years during the COVID-19 pandemic. “The customer is always right,” Christine Porath, a professor of management at […]
By David Gambrill | August 23, 2022
3 min read