Operations

The downside of selling for 4 times multiple during COVID

Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15 years ago, the multiples that buyers paid to acquire brokerages were in the 2.5 to […]

By Greg Meckbach | October 23, 2020

3 min read

How Lloyd’s says the industry can make commercial policies easier to read

Traditional insurance policies can be hard to read on mobile devices and legalistic language can make them difficult to understand, Lloyd’s suggested in a recent report. The design and format of policy documents is important, Lloyd’s said in Building simpler insurance products to better protect customers, a report released Oct. 12. “Many traditional policy documents […]

By Greg Meckbach | October 21, 2020

2 min read

How to survive a pandemic

A broker principal shares his story about how his fledgling brokerage managed to navigate its way through the various business disruptions caused by COVID-19

October 20, 2020

4 min read

Continuity during COVID: Executive of national broker association stands pat

Kent Rowe, vice president of commercial lines for Wedgwood Insurance, is staying on for another year as president of the Insurance Brokers Association of Canada. IBAC held its annual general meeting Sept. 23. IBAC announced Monday that its 2019-20 executive will remain in place for an additional year “to provide stability and continuity” amid IBAC’s […]

By Greg Meckbach | October 19, 2020

2 min read