Operations
If you want to be better than the average brokerage, try explaining coverages through the use of examples and try not making consumers wait for days for answers, the co-founder of an insurtech advises. “Insurance can be somewhat stuffy and not a real pleasant experience,” said Pierce Krol, co-founder of Grande Prairie, Alta.-based Insurely Inc. […]
By Greg Meckbach | September 28, 2020
2 min read
Legal / Regulation
Personal auto insurance brokers who don’t offer an endorsement that would limit an insurer’s right to restrict its coverage to actual cash value could be increasing their errors and omissions risk, a senior broker has cautioned. Alberta and Ontario have optional endorsements to auto policies that insure vehicles up to the actual purchase price instead […]
By Greg Meckbach | September 21, 2020
4 min read
Brokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests. “We spend a lot of time as MGAs saying to the younger brokers, ‘Here is […]
By Greg Meckbach | September 18, 2020
3 min read
Intact Financial Corp.’s latest “tuck-in” brokerage acquisition is part of its ongoing expansion effort in the United States, chief financial officer Louis Marcotte suggested Tuesday. International Bond & Marine Brokerage Ltd. of Hoboken, N.J., announced Sept. 11 it is now part of OneBeacon Insurance Group Holdings Ltd., which Toronto-based Intact acquired in 2017. “It just […]
By Greg Meckbach | September 16, 2020
Okay, so it appears the pandemic crisis will be with us for a long time, with P&C organization employees already feeling uneasy, worn down, and uncertain about many things — their health, job security, sending kids back to school safely, and an unknown timeline for a return to the office, to name a few. To […]
By David Gambrill | September 3, 2020
If you are finding it difficult to place business interruption insurance for restaurants, hotels and event venues, you aren’t alone. Aurora Underwriting Services Inc., an Alberta-based managing general agent and Lloyd’s coverholder, is still placing insurance for restaurants, company owner Nona McCreedy told Canadian Underwriter Monday. But she cannot find a Lloyd’s syndicate who will […]
By Greg Meckbach | September 1, 2020
Driving in the passing lane of the highway, your client sees in her rearview mirror an antenna pull up behind her. A horn blares. She pulls into the right lane, and an orange Lamborghini Aventador moves ahead, leaving her behind in its vapour trail. “That guy must be paying a fortune in insurance premiums,” your […]
By David Gambrill | September 1, 2020
Aon plc’s proposed acquisition of Willis Towers Watson plc was approved Wednesday by both firms’ shareholders. The merger still requires approval from competition regulators in various jurisdictions (including Canada) plus the Irish High Court. Aon and Willis Towers Watson rank second and third respectively on A.M. Best Company’s list of the world’s-biggest commercial property and […]
By Greg Meckbach | August 26, 2020
It is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now going to the MGA market, said Greg Robertson, president of R. Robertson Insurance Brokers Ltd., […]
By Greg Meckbach | August 25, 2020
The industry will be closer to finding out whether the second and third-biggest global P&C brokerages will merge after shareholders of both Willis Towers Watson plc and Aon plc vote on Wednesday. Aon and Willis announced this past March that their boards of directors are in favour of the acquisition by Aon, which has several […]
By Greg Meckbach | August 24, 2020
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