Operations

How brokers can maintain community sponsorships in a pandemic

The COVID-19 pandemic has forced Canadian property and casualty insurance brokerages to find new ways of marketing their brand through community events and sponsorships. “One of the challenges – particularly for small and mid-sized brokerages in Western Canada – has been that the number 1 marketing expense is community sponsorships,” said Derek Lothian, president & […]

By Greg Meckbach | August 27, 2021

2 min read

Operations

New Canadian P&C broking head for Willis Towers Watson

Dublin-based brokerage Willis Towers Watson PLC has appointed Kate Mead as head of its Canadian property and casualty broking team. Mead was previously Willis Towers Watson’s practice leader for the midwest, northeast United States and Canadian environmental business, the brokerage said Aug. 19 in a release. “Canada is a key component of our global strategy […]

By Greg Meckbach | August 20, 2021

2 min read

Operations

What to do when restaurant and hotel clients can’t find coverage

Commercial brokers wanting to place coverage for restaurants and hotels need to understand how those clients were affected by the pandemic and make the best case on their risk profile to carriers, says the CEO of Insurance Brokers Association of Saskatchewan. During the pandemic, some Saskatchewan brokers have been “having some very, very difficult conversations […]

By Greg Meckbach | August 20, 2021

2 min read

Operations

How brokers like BFL are recruiting talent to serve large international accounts

Uncertainty over mega-brokerage mergers provide an opportunity for other brokerages to acquire quality talent, a senior manager with Montreal-based BFL Canada suggests. “Recently, firms like BFL have reinforced their large account talent pool with various leaders, claims, captive experts, surety and client executives from Willis Towers Watson (including me) and Aon to ensure they are […]

By Greg Meckbach | August 13, 2021

3 min read

This open banking recommendation is a ‘red flag’ for brokers

A federal advisory committee’s recommendation to prohibit the use of banking data in underwriting, during the proposed initial phase of open banking in Canada, is a partial but not a complete victory for Canada’s national brokers’ association. In its final report issued Aug. 4, the Advisory Committee on Open Banking recommended that the “initial phase” […]

By Greg Meckbach | August 11, 2021

2 min read

Why Intact has no intention of selling BrokerLink

If you knock on Intact’s door offering money to buy its BrokerLink subsidiary, prepare to get rejected. “You are far more likely to see us putting way more capital in [the property and casualty insurance brokerage] space than the other way around,” said Charles Brindamour, CEO of Intact Financial Corp., during a virtual fireside chat […]

By Greg Meckbach | August 4, 2021

3 min read

The future of premium payments

How COVID-19 paved the way for easier payments; less risk to the broker As Canada prepares itself for a possible third COVID-19 wave, brokers are facing the reality of trying to manage the economic impact on themselves and their clients. Several brokers have noted how their small to medium sized business clients, in particular, have […]

August 1, 2021

3 min read

Gallagher no longer buying major Willis Towers Watson assets

A bunch of Willis Towers Watson plc workers, who anticipated that their divisions were being sold to Arthur J. Gallagher & Co., will be staying with Willis Towers Watson after all. Rolling Meadows, Ill.-based Gallagher announced July 26 that a US$3.57-billion deal with Willis Towers Watson has been nixed. Both brokerages have a major presence […]

2 min read

Stoppage of Aon-Willis combo won’t slow brokerage M&A activity: KPMG Canada deal advisor

Mid-sized brokers need to be careful in their approach to mergers-and-acquisition proposals but the abrupt cancellation of Aon’s $30-billion acquisition of Willis Towers Watson is not going to slow down deal-making within the brokerage sector, a Montreal-based insurance M&A expert suggests. Aon and Willis Towers Watson are, respectively, the second and third biggest commercial property […]

3 min read