Aviva Insurance Company of Canada has changed its decline rules for optional physical damage coverage for private passenger vehicles in Alberta. Announced to brokers in May in a bulletin obtained by Canadian Underwriter, the new underwriting rules for this optional physical damage coverage restrict eligibility for some new business and renewals. It comes at a […]
By Alyssa DiSabatino | June 10, 2024
3 min read
BrokerLink has completed its largest Ontario deal to date and entered into Manitoba and Saskatchewan with the acquisition of The Standard Insurance Brokers Ltd. In other M&A news, Acera Insurance, StoneRidge Insurance and McDougall Insurance also recently announced brokerage deals. BrokerLink’s newest partnership “expands BrokerLink’s services throughout Northern Ontario and introduces the brokerage to thousands […]
By Jason Contant | June 7, 2024
3 min read
The percentage of brokers saying they spend time directly with customers is starting to slip, Canadian Underwriter’s 2024 National Broker Survey finds. While this year’s survey finds 71% of respondents say they spend ‘a meaningful amount of time working directly with customers in a producer capacity,’ that represents a five percentage-point decrease from 2023. In […]
By Phil | June 7, 2024
3 min read
Canadians don’t prioritize saving money on their P&C insurance bills, according to a new survey by TD Insurance. And that’s where seeking advice can be critical. “75 per cent of insured Canadians surveyed are more aware of how to save on their phone bill versus their insurance bill (69%),” finds the TD Insurance Survey […]
By Alyssa DiSabatino | June 6, 2024
2 min read
Julie Skelton, a 35-year veteran insurance broker, will succeed retiring Insurance Brokers Association of B.C. executive director and chief operating officer Chuck Byrne when he retires on Dec. 31, 2024. “I am excited for the opportunity to focus my passion, experience and pride in this industry to represent all B.C. brokers with a strong and […]
By David Gambrill | June 4, 2024
3 min read
Word of mouth is king. So say brokers responding to questions about their firms’ marketing efforts in Canadian Underwriter’s 2024 National Broker Survey. Fifty four per cent say customer referral programs have been beneficial or highly beneficial over the past two years. With the exception of a dip to 45% in 2022’s survey, that number […]
By Phil | June 3, 2024
2 min read
Smaller brokerages looking to specialize without engaging in a merger and acquisitions growth strategy may find opportunities exist right inside their own backyards. “I think you can leverage the resources within your insurance partners and carriers. And you can look at experts from outside the industry with whom you can consult,” Eric Osborne, chief growth […]
By David Gambrill | May 31, 2024
3 min read
Canada’s property and casualty insurance industry has an opportunity to change the general public’s negative perception of the industry, says Kenny Nicholls, president and CEO of Western Financial Group. “I often hear people in our industry talk about how negatively the general population talks about insurance and it makes me cringe,” Nicholls says. “In the […]
By Jason Contant | May 31, 2024
3 min read
Western Financial Group is looking at expanding in urban centres and across various product lines, such as commercial, farm and employee benefits, brokerage president and CEO Kenny Nicholls tells Canadian Underwriter. “We have a strong representation in all lines, it’s just a question of us wanting to define more volume in them,” Nicholls says. “Given […]
By Jason Contant | May 29, 2024
3 min read
As specialization evolves, tripartite, in-person meetings between brokers, underwriters, and clients are becoming a more frequent tactic for strengthening the partnerships between the three central players involved in insuring a commercial risk. “As long as I’ve been in the industry, [in-person meetings between brokers, underwriters, and clients] have always happened, but I think it’s happening […]
By David Gambrill | May 29, 2024
3 min read