Operations
If there’s one area in which insurance professionals have room to grow, it’s in communicating. Whether it’s between brokers, with associations, to customers or with other industry partners, communication is something top of mind for recent winners of the CIP Society’s National Leadership Award. Especially being a hard market, it’s crucial to be communicating with […]
By Adam Malik | December 19, 2019
3 min read
It’s the annual challenge – what gift do you buy your clients and colleagues? Between taste, price, relationship, it’s tough to figure out. And there are many gift-giving opportunities when it comes to the insurance industry, between colleagues, industry partners, vendors and clients. “We know that this is the time of the year that people […]
By Adam Malik | December 18, 2019
2 min read
Brokers and carriers are trying to simplify the insurance binding process and that’s potentially leaving clients in precarious positions when it comes to claims time, warns one award-winning broker. “It used to be that people had to decide how much to insure their contents for. Now we take can all his decisions away from [him] […]
By Adam Malik | December 17, 2019
As we near the end of 2019, the trend in brokerage acquisitions shows no sign of slowing down. In the past week-and-a-half, one Ontario brokerage purchased another Ontario brokerage, a different brokerage bought a managing general agency, a large brokerage expanded its group employee benefits book through a merger, and another large brokerage bought an […]
By Jason Contant | December 17, 2019
Cyber insurance policies still tend to be confusing for brokers, but there are three areas that they should focus on, recommends Nathan Rose, senior underwriter and business development specialist with Burns & Wilcox Canada. This includes: 1) policies that have encryption exclusions related to mobile devices; 2) retroactive cover; and 3) voluntary notification, Rose told […]
By Jason Contant | December 16, 2019
Brokerages that want to get ahead don’t need to look any further than one important tool: Data. And to ignore it means not only falling behind but falling off the map entirely, one expert warns. To not just provide a better client experience but also improve the overall health and efficiency of the business, brokers […]
By Adam Malik | December 16, 2019
The Lawrie Insurance Group has announced that Bob Lawrie will assume the role of CEO and David Leadbetter the role of president of the property and casualty brokerage effective Jan. 1, 2020. Founder Dan Lawrie will serve as chair over the next couple of years in the transition of the company leadership to the next […]
A husband and wife working in the same brokerage are the latest to have been caught in the dragnet of the B.C. toll bridge fiasco, which has already resulted in licence suspensions for a handful of the province’s brokers. In this case, however, both members of the couple received elevated disciplinary penalties because they used […]
By David Gambrill | December 13, 2019
4 min read
HR
Brokers are finding they have to educate themselves more on the legal and technical side of cyber rather than on the cyber insurance policy itself, a speaker said recently at Insurance Bureau of Canada’s Commercial Insurance Symposium. “What we’ve noticed is we’ve really had to take on more of an advisory and consulting role around […]
By Jason Contant | December 11, 2019
Disruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed as a threat,” said Rod Campbell, director and CEO of brokerage Jones Brown Inc., during […]
By Greg Meckbach | December 11, 2019
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