Operations
A former broker in British Columbia is banned from applying for a licence for three years after the provincial regulator found he misappropriated funds received on behalf of an insurer for his own personal benefit. Vladimir Prokopchik had been licensed as a Level 1 general insurance salesperson since December 2015. His licence with the Insurance […]
By Jason Contant | October 1, 2019
3 min read
It can be enticing to jump on board as soon as you hear about the latest and greatest doodad to help your business. But getting distracted by the promises of every insurtech option is something one broker tries to avoid. Instead, Joanna Mendonca prefers the wait-and-see approach. “I think we guard against what we would […]
By Adam Malik | September 30, 2019
Brokers need to do a better job of securing cyber insurance coverage for their small and medium-sized business (SME) clients, the results of a new nationwide poll conducted by Leger show. “In the last three years, has your insurance professional spoken to you about cyber insurance for your business?” asked the Insurance Bureau of Canada-commissioned […]
By Jason Contant | September 27, 2019
As the market transforms, risk managers are looking for their brokers to keep them up to speed on market dynamics and why they are happening, a panel discussion said. Times are more challenging for everyone in the insurance industry, which means brokers need to ensure clients are not left in the dark, said Aon Canada’s […]
By Adam Malik | September 26, 2019
Eighty percent of CEOs believe they provide great customer service, according to a recent survey from IBM. However, only 8% of customers believed they receive such service. That disconnect could be killing your brokerage. “If you’re sitting here right now thinking about your level of customer service, and you’re confident that you think you could […]
By Adam Malik | September 25, 2019
HR
Debating on taking that risky project others seem to be shying away from? One insurance leader believes you should jump all over it. There was a point in her career when people told Christine Lithgow to not take on a project because they believed it was too dicey. She was moving up the ranks and […]
By Adam Malik | September 19, 2019
2 min read
Broker-insurer connectivity took a step forward this week, when the Insurance Brokers Association of Canada (IBAC)’s data exchange working group announced it had completed a first notice of loss (FNOL) transaction in real-time. The working group developed the first FNOL transaction as a reusable data service (RDS) and placed it in a library hosted at […]
By Jason Contant | September 12, 2019
The Internet of Things (IoT), the “connected economy,” and other phenomena driven by convergence will cause insurance premiums to go down, one industry analyst predicted last week at the Insurance-Canada.ca Executive Forum. “The rate at which this is going to happen, and is happening, is a whole discussion by itself, but it is happening,” Donald […]
By Jason Contant | September 9, 2019
Intact subsidiary BrokerLink is continuing its acquisition spree, announcing last week that it has bought two family-owned brokerages in Ontario. BrokerLink, one of the largest property and casualty insurance brokerages in Canada, said Sept. 4 it acquired Bradley’s Commercial Insurance Limited and Phil Leon Insurance Brokers Inc., effective Sept. 1. Terms of the transactions were […]
Hub International’s latest acquisition in Ontario is a bit of a break from its recent transactions in the country, which were focused on western Canada. Chicago-based Hub announced Thursday that it had acquired Mississauga, Ont.-based independent employee benefits consulting firm GMS Insurance Inc. Last year, it acquired the affiliated Kitchener, Ont. operations of GMS. Before […]
By Jason Contant | September 6, 2019
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