Operations
What major technology trends do you foresee in the property and casualty insurance industry in 2020? What new technologies will be on the brokers’ radar? We put these questions to a number of tech experts; their responses will inform your strategic thinking about tech.
February 3, 2020
5 min read
Legal / Regulation
An Ontario resident approached a direct writer for an auto insurance quote in March 2005. A new customer, the man gave the insurer his name, date of birth, vehicle information and property information. Upon receiving the quote, he took his auto insurance business elsewhere. Little did he know, the insurer would retain his data for […]
By David Gambrill | February 1, 2020
9 min read
Brokers obviously want to protect themselves from errors’ and omissions’ liability. So why not get a client to sign a hold harmless agreement? In effect, a hold harmless agreement removes liability from one party in a business relationship (in this case the broker). But insureds should not be signing such documents, an American risk management […]
By Jason Contant | January 31, 2020
3 min read
The Insurance Brokers Association of British Columbia (IBABC) disputes the conclusions published in a recent report that B.C. drivers are paying up to 42% more for their auto insurance than those in neighbouring Alberta. Such an “apples-to-apples” comparison between jurisdictions – one with a public auto insurer, and the other with a private auto regime […]
By Jason Contant | January 30, 2020
4 min read
Looking at the number of brokerage acquisitions already in January, you wouldn’t think merger and acquisition (M&A) activity is slowing down. But earlier this month, Willis Towers Watson reported that the global M&A market, with performance in steady decline since its peak in 2015, is forecast to continue to struggle to add value in 2020. […]
By Jason Contant | January 24, 2020
The threat of a cyber incident was a distant concern for companies around the world just seven years ago. It ranked 15th back then on a list of major business concerns, according to the annual Allianz Risk Barometer report. Today, it tops the list. Why? The growth of digital dependence has exploded, with high-profile incidents […]
By Adam Malik | January 21, 2020
Western Canadian independent insurance brokerage CapriCMW Insurance Services Ltd. announced Monday it has expanded into Yukon with the acquisition of an office from Aon Reed Stenhouse Inc. The longstanding Aon office at 201-9016 Quartz Road in Whitehorse will begin operating as CapriCMW, effective March 2, CapriCMW said in a press release. It is CapriCMW’s 15th […]
By Jason Contant | January 14, 2020
Will cyber insurance products ever become completely standardized? While aspects of cyber insurance, such as language around data breach, have become more standardized, there is still an overall lack of standardization across the line. Canadian Underwriter has also heard suggestions that brokers want standardization, but insurers don’t. So how do brokers approach a sale with […]
As tension continues to rise in the Middle East, brokers might want to start asking clients questions about travel plans – if they aren’t already. “After recent events in Iran and Iraq, Burns & Wilcox has been getting questions from brokers looking to offer war/terrorism risk insurance for clients travelling to areas at high risk […]
By Greg Meckbach | January 14, 2020
With the wind-down of Ontario’s limited Out-of-Country Travellers Program now official, brokers in the province who sell travel insurance have a golden opportunity to make sure their snowbird and other travelling clients are properly covered for trips. “It is certainly an opportunity for brokers to cross-sell to some of their existing book at renewal time,” […]
By David Gambrill | January 13, 2020
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