Operations
This year’s federal budget could keep the restrictions, on banks selling home and auto insurance, for at least another four years. “There was an unexpected positive development in the budget for us,” Peter Braid, CEO of the Insurance Brokers Association of Canada, told Canadian Underwriter Wednesday. “The federal government has signaled in the budget that […]
By Greg Meckbach | April 23, 2021
3 min read
Search engine optimization (SEO), electronic transactions, and contracts with carriers insuring small to mid-sized enterprises (SMEs) are among the capabilities that made the Breckles Group of Companies attractive to Highcourt Partners. The merger of those two Canadian brokerages, resulting in the formation of the Highcourt Breckles Group, was announced this past Tuesday. The combined firm […]
By Greg Meckbach | April 15, 2021
Auto insurance has introduced pay-as-you-go options for personal clients, but in the era of business shutdowns to prevent the spread of COVID-19, it seems as though commercial lines could use a similar option as well. Brokers in a LinkedIn thread recently discussed the conundrum facing their business clients when they purchase insurance for a year […]
By David Gambrill | April 14, 2021
Brokers don’t appear to be as enthusiastic about generating new business through referrals as they were before the pandemic, according to Canadian Underwriter’s 2021 National Broker Survey. In fact, brokers’ support for almost all traditional means to generate new business has waned over the past three years, the 2021 survey results show. And while the […]
By David Gambrill | April 13, 2021
For Canadian brokerage principals, interest in mergers and acquisitions as a growth strategy increased dramatically in September 2020, during the second wave of the pandemic, but seems to have cooled somewhat since then, according to the results of Canadian Underwriter’s 2021 National Broker Survey. That said, even with the statistical dip early this year, brokers’ […]
By David Gambrill | April 12, 2021
Navacord has built up a sizeable war chest to fund future mergers and acquisitions. The Toronto-based group of brokerages recently completed $1.05 billion in financing, a portion of which is to be used to take advantage of unspecified “M&A opportunities,” the brokerage announced Mar. 30. “Navacord will use the proceeds from new first and second […]
By Greg Meckbach | April 6, 2021
2 min read
At least one insurer plans to offer an application programming interface (API) intended to help brokers quote and bind coverage for small businesses without the aggravation of having to log into different insurer portals or send emails or faxes. Unica Insurance is working on an API to quote and bind small business for the reusable […]
By Greg Meckbach | March 22, 2021
To increase female representation in the C-suite, the property and casualty insurance industry needs to make it easier to balance home responsibilities and up its game in promoting insurance as a career for young people, a Nova Scotia broker suggests. “We tend to feel most comfortable with and promote people like us,” said Gina McFetridge, […]
By Greg Meckbach | March 11, 2021
Some brokers are entering into mergers or partnerships so they can more easily place hard-to-find coverage, according to one brokerage executive. “We just feel that some brokers who do not necessarily have our volume are struggling to find market support and being able to provide solutions to customers who come and see them,” Kenny Nicholls, […]
By Greg Meckbach | March 4, 2021
Western Financial Group is taking a non-controlling interest in Saint John, N.B.-based Huestis Insurance Group. The exact terms of the deal, announced Feb. 23, were not disclosed, other than it will give the High River, Alta.-based Western Financial a “significant” non-controlling interest in Huestis. “Huestis will continue providing great service to its communities under the […]
By Greg Meckbach | March 1, 2021
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