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Article 0 Comments Bishop Street Underwriters announced the rollout of Bishop Street Program Managers (BSPM), an incubator for developing managing general agents (MGA). Embedded within Bishop Street’s ecosystem and backed by its $600 million gross written premium platform, BSPM promises to provide the infrastructure, back-office capabilities, capital capacity and insurer relationships to jumpstart the launch of specialty MGAs as quickly as 90 days. As part of BSPM, which is a RedBird Capital Partners portfolio company, underwriters will be able to benefit from Bishop Street’s shared services model across compliance, technology, distribution and data analytics, with support from an embedded AI-enhanced underwriting workbench. BSPM offers a a turnkey system setup customizable to specific niches. To support the rollout of BSPM, Bishop Street has also announced executive leadership hires for BSPM: Luke Porter, president of BSPM – A career underwriter and industry veteran with specialized experience implementing and managing de novo programs and insurtech platforms, Porter will lead Bishop Street’s MGA incubator. He joins from Mission Underwriters, where he managed program rollout and expansion efforts across the firm’s portfolio. Andrew Shrout, CPCU, chief strategy officer, – Strout has decades of experience in strategic marketing, organizational transformation and operational sustainability to drive BSPM’s...
Article 0 Comments Delaware’s workers’ compensation insurance rates paid by employers will decrease for the ninth year in a row, effective December 1. The voluntary private market average loss costs are expected to drop by 11.6%, while the residual market for high risk businesses that can’t purchase coverage in the voluntary market, will see an average rate reduction of 9.08%. In announcing the rate decision, Insurance Commissioner Trinidad Navarro indicated that there has been “meaningful movement” to the voluntary market from the residual market over the last several years. The announcement follows Navarro’s confirmation of the Delaware Compensation Rating Bureau (DCRB) filing by independent actuaries, and a public hearing with DCRB and the State’s Ratepayer Advocate. Actual savings will vary by policy. The latest decreases continue a downward pricing trend in the state : For December, 2024 the state approved a voluntary market average loss cost cut of 8.4%, and a residual market reduction of 9.21%. In December 2023, the voluntary market loss costs decreased 7.24%, while residual market rates fell 11.18%. In December 2022, there was an overall voluntary market decrease of 10.96%, along with revisions to rating values, and an overall decrease to residual market rates of 16.14%....
/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.
Survey highlights views on social impact, healthcare access, wellness, and job stability Mississauga, ON (Oct. 22, 2025) – A new study of Canadian workers shows shifting workplace priorities across generations, with younger employees placing stronger emphasis on purpose, sustainability, wellbeing, and job stability. The Workplace Values Survey, commissioned by First Onsite Property Restoration, explores how Canadians view the role of employers in supporting individuals, communities, and the environment. The planet and its people Beyond wages and policies, Canadians increasingly want employers to make a positive impact. Six-in-10 respondents (61%) say it is important to work in an industry that helps people, a sentiment that is strongest amongst Millennials (68%) and Gen Z (65%). Also, half of Canadians (52%) believe it is important to work for an organization focused on sustainability, rising to 58 per cent among both Millennials and Gen Z. “Purpose is a talent magnet and the desire to make a positive impact remains a powerful motivator in the workforce, especially among younger generations,” said Leah Pearson, Senior Director, Human Resources at First Onsite. “This is pushing industries like disaster restoration to level up and play a more direct role in supporting communities and safeguarding the environment.” Primary healthcare...
Markham, ON (Oct. 22, 2025) – Acera Insurance Services Ltd. is pleased to welcome its latest partner, Guthrie Insurance Brokers Ltd. of Markham, ON. Acera Insurance and Guthrie Insurance are both dedicated to providing personalized, unbiased solutions to individuals, families and businesses, combining for nearly 100 years in the Greater Toronto Area. “We are excited to partner with Guthrie Insurance, a firm that prioritizes a client-first approach,” says Lee Rogers, Chief Executive Officer, Acera Insurance. “Together, we look forward to carrying on our shared value of putting people first as we continue to build a top-tier team in Ontario.” This partnership marks Acera Insurance’s eighth location in Ontario, where it also has offices in: With foreign investors and insurance company-owned aggregators active in mergers and acquisitions, Acera Insurance’s unique advantage of being Canadian-owned, independent and employee-controlled appealed to the Guthrie Insurance team. “We have always served our clients with undying integrity, so finding the right partner to expand our market strength and capabilities wasn’t something we took lightly,” says Ryan Guthrie, President, Guthrie Insurance. “Partnering with Acera Insurance means staying true to what matters most: remaining independent and advocating for our clients.” The Guthrie Insurance partnership closed on Oct. 6, 2025,...
Article 0 Comments Being Pleasant Is Key to Success at Small but Growing Southern California Firm Being pleasant may not sound like it’s part of a recipe for success at a firm operating in a space where people survive and thrive by making sales, but it’s among the core philosophies at Kulchin Ross Insurance Services LLC. The small agency seems more focused on growing its own people–professionally and their personal well-being–than growing its book of business. However, Kulchin Ross has also grown its customer base considerably in recent years. This year, Kulchin Ross won the Gold Award for the Best Agency to Work For in the West region. In nominating their firm, many employees noted the atmosphere and kindness that managers and employees show each other, as well as the opportunities for professional growth they receive. Derek Ross, president and chief operations officer, said the agency’s commitment to making the workplace a pleasant one has been key to what most would agree is a stellar retention record. “In the 15 years now that we’ve been in business, we’ve only lost one employee. That’s it,” Ross said. “The majority of our folks stay, and they stay because of the concept of...
Surrey, BC (Oct. 15, 2025) – AMC Insurance Services Ltd. is proud to announce the acquisition of Weeks Insurance and Financial Services Inc., a respected, locally owned brokerage serving South Surrey and White Rock since 1979. This acquisition marks another milestone in AMC’s expansion across British Columbia and underscores its commitment to delivering trusted, community-focused insurance solutions. “We’re honoured to welcome the Weeks Insurance team into the AMC family,” says Jujhar Singh Parmar, Vice President of AMC Insurance. “For more than four decades, Weeks Insurance has built lasting relationships through honest advice and exceptional service—values that align perfectly with AMC’s mission.” Through this partnership, Weeks Insurance clients will continue to receive the same trusted local service, now supported by AMC’s province-wide network, advanced digital tools, and expanded range of insurance options. The South Surrey office will remain open to ensure a seamless transition and continued personalized care. “This partnership represents growth with purpose,” adds Singh. “Together, we’re building on a shared legacy of trust, experience, and client-first service.” For more information, visit amcinsurance.ca/south-surrey-insurance/. For partnership inquiries, contact Jujhar at 604-764-9998 or jujharsp@amcinsurance.ca. About AMC Insurance Services Ltd. Founded in 2002, AMC Insurance Services Ltd. is one of British Columbia’s leading...
By Mahan Azimi, Director – Catastrophic and Emerging Risk Policy, IBC — Encouragingly, the Canadian cyber insurance market continues to stabilize, thanks in part to stronger underwriting practices, more predictable loss trends and a broader array of products. But the threat landscape is evolving at an unprecedented pace. Cyber criminals are increasingly using artificial intelligence (AI) to craft sophisticated attacks, while most small and medium-sized enterprises (SMEs) remain vulnerable and underinsured.[1] In a new report, The Canadian Cyber Insurance Market, Insurance Bureau of Canada (IBC) analyzes the defining trends in cyber insurance and offers key recommendations to protect Canada’s digital future. Cyber insurance has firmly established itself as a key component of the Canadian commercial insurance landscape. The market’s growth has been dramatic as organizations large and small seek financial protection against cyber incidents. However, this rapid growth was accompanied by increases in claims frequency and severity, especially during a period of heightened ransomware events. Between 2019 and 2023, Canadian cyber insurers’ combined loss ratios averaged approximately 155%, reflecting significant underwriting losses.[2] This culminated in a challenging market by 2021–2022, requiring insurers to reassess coverage and pricing to better manage emerging risks. One of the most significant developments in the...
/ ThinkAdvisor provides financial advisors, registered investment advisors and wealth managers with comprehensive coverage of the products, services and information they need to guide their clients in making critical wealth, health and life decisions.
