Tech
Brokers wanting to find out how likely their client’s basement will be flooded might want to ask whether the insurance companies are using data from the municipality in their flood maps. “A lot of residents have indicated concerns with purchasing insurance coverage and having significant difficulty in finding coverage that meets their needs,” said Andrew […]
By Greg Meckbach | October 17, 2019
3 min read
Operations
Providing brokers with a complete view of their business – both personal and commercial lines – was among the reasons Applied Systems decided to acquire Policy Works, Applied’s vice president of industry and partner relations said Wednesday. Steve Whitelaw spoke with Canadian Underwriter the day after Applied announced the acquisition of Policy Works, a platform […]
By Jason Contant | October 17, 2019
2 min read
Applied Systems announced Tuesday it has acquired Policy Works, a major platform for commercial lines business in Canada. The acquisition will extend Applied’s position within the commercial lines market segment, driving greater connectivity and automation for commercial lines brokerages and insurers in the Canadian marketplace, Applied said in a press release. “As Canada’s leading provider […]
By Jason Contant | October 15, 2019
Legal / Regulation
A brokerage in Manitoba has been fined $6,000 after a complaint to the regulator that representatives of the brokerage’s sub-agency were holding themselves out to the public under a trade name for which they were not licensed to do business. The Insurance Council of Manitoba’s decision refers to Optima Insurance Group’s sub-brokerage only as ‘Agency […]
By David Gambrill | October 11, 2019
Carriers have made significant strides in ridding their systems of nefarious Z-codes. Here’s an update on their mop-up operations….
October 11, 2019
4 min read
The hard market is showing no signs of abating, with all provinces posting premium rate increases in personal lines in the latest quarter, according to Applied Systems’ most recent rating index. Personal property premiums increased on average by 13.6% compared to the third quarter of 2018. Personal property premiums increased by 4% compared to Q2 […]
By Jason Contant | October 10, 2019
What are some of the best practices in mergers and acquisitions (M&A)? David Hunt, senior director of mergers and acquisitions at Willis Towers Watson, said in a recent blog that newcomers can learn from the best serial acquirers. While not specific to insurance, there are five key takeaways from top-tier deal-makers that could be applied […]
Motorists in Manitoba should be able to get online insurance services – such as change of address – but brokers should have some involvement in these processes, an official with the province’s brokers’ association told Canadian Underwriter Wednesday. “We are exploring the possibility of going online,” Manitoba Public Insurance (MPI) spokesperson Brian Smiley said Wednesday […]
By Greg Meckbach | October 9, 2019
What is trending right now in the Canadian brokerage M&A marketplace? We put the question to Mike Berris
October 9, 2019
How long will it be before brokers’ and insurers’ systems are able to connect efficiently? “This is still a two- to three-year journey for the industry to have really-slick, direct connectivity,” predicts Jason Storah, CEO of Aviva Canada. Storah spoke with Canadian Underwriter Friday about a variety of topics, including broker-insurer connectivity. He was asked […]
By Jason Contant | October 8, 2019
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