Operations

Will brokers’ travel expenses return to 2019 levels?

As economies re-open with more people getting their COVID-19 vaccinations, corporate executives will put more thought into their decisions on whether or not employees travel, suggests the CEO of Marsh & McLennan Companies Inc. New York City-based Marsh & McLennan will gradually increase its travel and entertainment spending throughout the remainder of 2021, CEO Dan […]

By Greg Meckbach | July 27, 2021

2 min read

Operations

The impact of Gore Mutual’s new operating model

Gore Mutual has gone live with technology that lets the carrier bind policies for brokers, in minutes in some cases. The Cambridge, Ont.-based property and casualty insurer “has completely changed the operating model for personal lines,” CEO Andy Taylor said last week in an interview with Canadian Underwriter. “In our prior model, which was a […]

By Greg Meckbach | July 26, 2021

2 min read

Operations

Aon-Willis merger no longer going ahead

Aon plc is no longer going to acquire Willis Towers Watson plc. Aon and Willis – the world’s second and third biggest commercial property and casualty brokerage respectively – are terminating their US$30-billion combination agreement, Aon announced Monday. The proposed agreement was originally announced in March of 2020. But on June 16, 2021, the U.S. […]

By Greg Meckbach | July 26, 2021

2 min read

Operations

M&A deal sees brokerage expand into the child and youth care space

With the Ontario government poised to pump more funding into child care services, the timing was right for brokerage McFarlan Rowlands to acquire Magenta Insurance Professionals, a niche insurance broker focused on children and youth activities, says McFarlan Rowlands CEO Burke Neale. Magenta has two decades of experience in programs specializing in child and youth […]

By David Gambrill | July 22, 2021

3 min read

Hybrid office: What brokers can learn from the parable, Who Moved My Cheese?

Ontario brokerage Mitchell & Whale is allowing its staff to return to the office in any way they choose, a hybrid work model inspired by the 1998 best-selling book, Who Moved My Cheese? Authored by Dr. Spencer Johnson, Who Moved My Cheese? is a business parable featuring two mice, Sniff and Scurry, and two small […]

4 min read

Auto dealer penalized for use of insurer’s internet quoting system

Alberta’s broker regulator has issued an $8,000 civil penalty against an auto dealership, Avenue Motors Ltd., after an insurance company complained about alleged misuse of the insurer’s online quote generator by the dealership’s employees. The dealership holds a Restricted Corporate Auto Dealership (Equipment Warranty) certificate of authority to transact insurance business insurance within Alberta, a […]

3 min read

Looking for a quick D&O rebound after COVID? Don’t hold your breath….

Brokers looking to see directors’ and officers’ (D&O) insurance pricing and capacity rebound quickly after the pandemic had better not hold their breath — especially with the Canadian government now starting to pull the plug on certain COVID relief measures for small private businesses. The looming threat of business bankruptcies has underwriters concerned about the […]

3 min read

The unique coverages for collector cars

When people typically think of collector cars, they may immediately think of something like a 1970 Dodge Challenger, a Classic Corvette, and other cars of that vintage. But collector cars also include exotics — think of something from Lamborghini — and some cars that may never see a paved surface, such as a race car […]

3 min read

How to go after online fake brokerages through the courts

Canadian courts have the power to try and shut down unlicensed brokers’ Internet sites, though there does not seem to be a simple, sure-fire way to guarantee that Canadians won’t find a fake broker on the web. Teksavvy Solutions Inc. v. Bell Media Inc., a unanimous ruling released May 26 by the Federal Court of […]

6 min read

Aon-Willis deal under review by Competition Bureau

Canada’s competition regulator is reviewing the proposed merger of global brokerages Aon plc and Willis Towers Watson plc, but the federal government is not saying whether it has actually received any complaints. The US$30-billion deal, originally announced in March 2020, was approved by shareholders of Aon and Willis Towers Watson in August 2020. If completed, the […]

3 min read