Operations

How the world’s brokers rank by revenue

Marsh was still the world’s biggest brokerage in 2020, even after more than 700 merger deals got done last year, A.M. Best Company Inc. reports in Top Global Insurance Brokers – 2021 Edition, released July 1. Quoting from Optis, A.M. Best said the COVID-19 pandemic did not slow down merger and acquisition activity in the […]

By Greg Meckbach | July 5, 2021

2 min read

Operations

Only 3 brokers have the ‘wherewithal’ to place complex large account package: Consultant

Some Fortune 1,000 commercial clients really have a choice of essentially three brokers – Aon, Marsh or Willis – if they are looking for a complete insurance package, a consultant for the insurance industry suggests. In a recent court filing, the United States Department of Justice identified five distinct markets in which the DoJ claims […]

By Greg Meckbach | June 30, 2021

3 min read

Operations

BFL president reacts to regulator’s effort to prevent Aon-Willis merger

In trying to block Aon plc’s proposed acquisition of Willis Towers Watson plc, the United States competition regulator is off the mark in how it describes the world’s three-biggest property and casualty commercial insurance brokerages, suggests a senior executive with one of Canada’s largest brokerages. The U.S. Department of Justice (DoJ) announced June 16 it […]

By Greg Meckbach | June 23, 2021

3 min read

Operations

April Canada unveils its new CEO, transition plan

After eight years in Quebec with April Canada, Sebastien Gabez is leaving the Canadian operations to join April in the Caribbean, effective July 1, 2021. After being the managing general agency’s CEO for the past three years, he is handing over the reins to Daphné de Vitton, who joined April Canada about two years ago […]

By David Gambrill | June 23, 2021

3 min read

Why the U.S. competition regulator wants to stop the Aon-Willis merger

Almost all large firms in the United States buy their property and casualty insurance through either Marsh, Aon or Willis Towers Watson, the latter two of the ‘Big Three’ having market share of more than 40% in property and liability insurance, the U.S. Department of Justice says. This is among the reasons the DOJ announced […]

3 min read

Two things you need to explain to your clients

Risk and insurance professionals need to address two common client misunderstandings about how the property and casualty insurance industry works, a risk professional suggested to Canadian Underwriter Tuesday. First, clients may not fully understand the interconnectedness of the P&C industry, Steve Pottle, chairman of the Rims Canada Council (RCC), said in an interview. Second, many […]

4 min read

The real advantage of straight-through processing in the Lloyd’s market

Managing general agents who can place small business coverage digitally through the Lloyd’s market are at a competitive advantage over MGAs using traditional paper-based processes, an insurtech CEO suggests. “We are one of the very few MGAs that has straight through-processing at all,” said Jeff McCann, CEO of Apollo Insurance Solutions Ltd., in a recent […]

2 min read

Updated: What emergency relief will insurers offer customers? Here’s what they told us

Editor’s notes: This story has been updated to include additional information from Allstate. Insurance Bureau of Canada announced in 2020 that its members are offering reductions in auto insurance premiums for consumers whose driving habits have changed significantly. You can read that story here. Canada’s P&C insurance industry should follow the example of the banking […]

By Adam Malik | May 31, 2021

22 min read

Why this purported ‘brokerage’ website caught RIBO’s eye

Hidden Ace Brokerage, which purports to be “fighting high insurance rates” in the greater Toronto area, and says it “takes pride in delivering the quotes that insurance companies don’t want you to see,” is not authorized to place home or auto insurance in Ontario, warns the Registered Insurance Brokers of Ontario. One feature of the […]

4 min read

BFL founder donates $500K towards women leadership centre

BFL Canada’s founder, Barry F. Lorenzetti, is giving $500,000 to establish the Barry F. Lorenzetti Centre for Women Entrepreneurship and Leadership at Concordia University in Montreal and to endow research grants and scholarships for undergraduate and graduate students. “Entrepreneurship involving women is fundamental for creating new jobs and contributing to the social and economic growth […]

2 min read