Insurable Interest Canadian Insurance Blog

Acquisition by Ives Insurance, a Navacord-owned brokerage, marks Navacord’s third deal of 2024 Essex, ON (Mar. 4, 2024) – Ives Insurance Brokers Ltd., a leading insurance provider, is pleased to announce the acquisition of the Essex branch of All-Risks Insurance Brokers Ltd., effective March 1st, 2024. This strategic move underscores Ives Insurance’s commitment to expanding its footprint and reinforcing its presence in southwestern Ontario. For clients previously serviced out of the Essex All-Risks office, located at 38 Talbot St N, uninterrupted coverage will continue through Ives Insurance offices in Essex, Amherstburg, Lakeshore, LaSalle, Leamington, Tilbury and Waterloo. “After careful consideration, we are excited to welcome former All-Risks clients into the Ives Insurance family,” said Jeff Ives, President of Ives Insurance Brokers Ltd. “This acquisition allows us to solidify our position in southwestern Ontario and provide our renowned services to a broader client base.” Josh Lazarus, former Managing Partner of the AllRisks Essex office, expressed that his team was looking forward to joining forces with Ives Insurance. “I’m thrilled to see my team join forces with Ives Insurance! As managing partner of Essex All-Risks, I’m excited to bring our expertise and client-centric approach to the exceptional team at Ives. Together, we’ll...

San Francisco, CA (Mar. 12, 2023) – ClimateCheck and ClimateFirst are pleased to announce a first-of-its-kind partnership to enable commercial real estate (CRE) stakeholders to assess financial risk due to climate change. The new comprehensive approach includes Climate Value at Risk (CVaR) analysis to determine the value of assets that could be damaged or destroyed as a result of climate-driven disaster and recommends property resilience measures. Together, the leading climate-tech startups are offering a unified and actionable solution to empower real estate stakeholders — including owners, investors, and asset managers — to manage climate risks effectively and promptly. Leveraging the combined expertise of both platforms, clients gain access to comprehensive climate-risk assessments and transform challenges into opportunities for building asset resilience. The new dual solution benefits from a blend of climate and building science: ClimateCheck identifies property-specific climate hazard risk and ClimateFirst assigns a value to each risk and delivers a comprehensive mitigation plan. “We provide our clients with granular information about the risk of climate hazards to their property. Through our partnership with ClimateFirst, our clients can now also gain insight into the material financial impact of climate-driven disasters such as wildfire or flood. This enables them to prioritize...

The report features interviews with industry experts and young agents, explaining what Millennials and Gen Z seek from their insurance careers, their technology preferences, and how carriers can help them grow in their roles San Francisco, CA (Mar. 7, 2023) – This new generation is navigating an era of unprecedented changes, from the aftershocks of the COVID-19 pandemic to the silent resignations, layoffs, and a heightened awareness around mental health. But even amidst global economic uncertainties, the allure of traditional perks like job security and financial opportunities, though still important, has been overshadowed by a significant shift in aspirations. Vymo, the leading Sales Engagement Platform for financial institutions, in collaboration with LIMRA, the largest trade association supporting the insurance and related financial services industry, recently released a report to understand how Millennials and Gen-Zs want to live and work. Titled ‘The Bridge’, it provides perspectives and frameworks to help insurance companies support the younger demography joining the workforce. In-depth conversations with insurance organizations, agents, and experts reveal that today’s candidates are gravitating towards roles with the potential to create substantial societal impact and the promise of making a meaningful difference. There is a strong emphasis on the ability to help...

Hartford, CT (Mar. 12, 2024) – The insurance industry continues to adapt and find opportunities for technological transformation utilizing Generative AI. Developing and piloting these technologies will require significant investments in time and resources. This will apply upward pressure on expense ratios over the near-term with Generative AI driving the shifts in the type of staff and positions needed to run a modern insurance company. Amidst that background, Conning Insurance Research conducted its Annual Survey of C-suite executives and decision makers on AI adoption in the insurance industry. It published the results in a new study: “Transformative AI Technology: Insights from Conning’s Executive Survey.” “This is our second-year surveying industry executives on technology transformations and this year’s results show 77% of the respondents indicated that they are in some stage of adopting AI as part of their value chain, this is up 16 percentage points from 61% in 2023,” said Manu Mazumdar, a Director and Head of Data Analytics and Insurance Technology in Conning’s Insurance Research group. “Insurers are adapting, developing, and piloting innovative AI applications in pursuit of greater efficiency to drive customer and distributor satisfaction. In addition, insurers have access to a wider and larger selection of data...