Brokers are the front-line defenders for insurers covering commercial trucking. Especially since some fleet owners may attempt to insure only the trucks in use, while not reporting those sitting on lots and not being driven. “Some guys will say, ‘No, I don’t have that many trucks,’ and they’ll incorrectly report their fleet size. That does […]
By Phil | July 24, 2024
3 min read
Everyone wants to be at the top of the leaderboard — Olympians, gamers and insurance brokers. That’s why gamifying the sales process could help incentivize brokerages and develop salespeople who are driven by numbers. Such an outcome is being seen by Sutherland Insurance following its development of a visual dashboard, which aggregates the brokerage’s production […]
By Alyssa DiSabatino | July 24, 2024
3 min read
Zac Sutherland transformed his fifth-generation brokerage’s sales outputs and strengthened his insurer partner relationships using one tool — data. Sutherland, who’s president at Sutherland Insurance, found that pulling production reports from his BMS often didn’t provide the data on the brokerage’s macro trends that he needed to manage his operations effectively. “How do you […]
By Alyssa DiSabatino | July 23, 2024
3 min read
Editor’s Note: This article has been corrected to note Ai Insurance Organization’s London, Ont., office still exists and was not included as part of Hub’s acquisition, as an initial version of this article stated. Also, to clarify, Royston Fernandes is an owner and managing partner in Ai Insurance Organization’s London, Ont., office. He is not […]
By David Gambrill | July 23, 2024
2 min read
The ability to have unique, cutting-edge, customizable broker software was one of the key reasons behind virtual brokerage Cheep Insurance’s decision to partner with Southampton Financial, the brokerage’s president tells Canadian Underwriter. On July 2, insurance investment group Southampton Financial announced its equity partnership with WebBroker Canada Inc., the driving force behind Cheep Insurance. The […]
By Jason Contant | July 18, 2024
2 min read
Industry veteran Phil Cook has retired after 62 years in the insurance industry, 57 of which were in Canada. Cook announced his retirement as chairman of Accelerant Insurance Company of Canada (formerly Omega General Insurance Company) effective June 30. For 20 years, he has also been known for his popular Insurance Industry Trends & Predictions […]
By Jason Contant | July 16, 2024
3 min read
When it comes to pricing an insurance brokerage for sale, business continuity and the firm’s ability to retain key producers are both critical factors. “For sellers that are further away from retirement age and who are the key producer, there is an expectation of a significant equity roll and market compensation,” said a recent report […]
By Phil | July 15, 2024
2 min read
Large independent brokerage Acera Insurance Services Ltd. has officially expanded nationwide with its first location in Atlantic Canada. Acera Insurance announced its acquisition of Nova Scotia-based Jacobi Brien Insurance last Thursday. “This deal marks Acera Insurance’s first location in Atlantic Canada, officially expanding the independent brokerage’s footprint from coast to coast to coast,” Acera said […]
By Jason Contant | July 15, 2024
2 min read
The insurance brokerage market saw 48 deals in the first half of 2024, and with six months left to go, experts predict this year could become another exceptional year. The total counts all publicly announced deals across P&C and life and health brokerages, according to M&A advisory firm Smythe LLP. And the firm expects this […]
By Alyssa DiSabatino | July 12, 2024
2 min read
Western Financial Group CEO Kenny Nicholls has announced he will retire at the end of the year after 30 years in the financial services industry. The brokerage’s chief growth officer, Grant Ostir, will become the new CEO on Jan. 1, 2025, Western Financial said in a press release Thursday. Nicholls has been with Western for […]
By Jason Contant | July 12, 2024
2 min read