IBC 11.01

Brokers rank the MGAs that stand out as the top-performing operators in Canada’s wholesale distribution channel

Providing coverage from building to built.

Whether it’s a complicated construction project or a unique commercial property, Burns & Wilcox can cover it.

FEATURES

THE FACTS ABOUT DIGITAL

Intact Insurance debunks seven of the most common myths about digital customer service tools

SPECIAL REPORT BROKERS ON MGAS

The standout MGAs that have impressed brokers as the best operators in Canada’s wholesale distribution channel across 20 insurance types

PEOPLE INDUSTRY ICON

Westland Insurance

Group CEO Jamie Lyons on the company’s strategies for growth, and his vision for the business that’s aspiring to become Canada’s favourite insurance broker

FEATURES COOKING UP SOMETHING NEW

SUM Insurance is ready to take the lid off its new insurance product for the hospitality sector

CONNECT WITH US

Got a story or suggestion, or just want to find out some more information?

twitter.com/InsuranceBizCA

UPFRONT

04 Editorial Insurance brokers can hold their heads high

FEATURES

46 Self-leadership

How leading ourselves well can shape our behaviours and be critical to leading others effectively

SPECIAL REPORT

32

FEATURES PROACTIVE PROTECTION

Victor Insurance Managers takes a unique approach to protecting SMEs against a cyber attack

37 Top 50 Rising Stars

The exceptional young insurance professionals who are committed to driving change in the industry and setting new standards of excellence in 2023

COLLABORATION IS EVERYTHING.

THANK YOU.

We’d like to say thank you to the outstanding insurance companies who partner with us to deliver security and peace of mind to millions of Canadians. Your ongoing support is greatly appreciated.

2023 IBAC

Full Partners

Participants: Northbridge, Pafco, Lloyd’s.

Time to hold your head high

“Insurance is boring, isn’t it?”

That’s what so many of us in the industry hear as we, almost shamefully, whisper what we do for a living at parties. It’s an image problem that the sector has battled for decades – after all, we’re all just boring white men in suits, allegedly. It’s an issue with serious repercussions too – countless articles in Insurance Business over the past year have focused on insurance’s talent gap and the struggle to attract the next generation.

“It’s a fight,” Ed J. Majkowsi, EY Americas insurance sector and advisory leader, previously told Insurance Business. “The generation coming out of school these days are all excited about working for some of the largest technology firms in the world. When they have to choose between working for a technology firm, a bank, or an insurer, insurance almost always comes last.”

An honest assessment undoubtedly – but one that doesn’t reflect insurance’s reality. Just look at this past year for examples.

Want to work in finance? Insurance continues to feel the repercussions of a hard market amid the inflationary effects on back-year claims. If you want to guide clients on protecting themselves through a cost-of-living crisis, insurance is for you.

Want to work in tech? Insurance is looking to scale the use of artificial intelligence – it has the ability to either “replace work that is done, or make it more accurate, or work alongside underwriters,” according to Chubb CEO Evan Greenberg.

Want to be on the frontline? In 2022–23 alone, brokers and loss adjustors have helped pick up the pieces after hurricanes Ian and Fiona; wildfires in California, Nova Scotia, Alberta, and Idaho; among other North American catastrophes.

Want to “do good” for society? Giving back is at the core of many insurers’ businesses, whether that’s through community sponsorships or major corporate campaigns.

Want a diverse workplace? Insurance has cast aside its stale, male, and pale image with forward-thinking events like the Dive In Festival and the Women in Insurance series.

For whatever question you’re asked, insurance has an answer. So next time someone asks you what you do, hold that head a little higher. Insurance isn’t boring – and it’s time to tell the world why.

The team at Insurance Business

“When [the new generation] choose between working for a technology firm, a bank, or an insurer, insurance almost always comes last”

Kim Champion, Desmond Devoy, Pete Miller, Mika Pangilinan, David Saric,

Busting seven digital myths

INSURANCE APPS and desktop customer support solutions naturally extend the customer service experience, building on existing, trusted relationships with brokers to put insurance at customers’ fingertips.

As insurers refine their digital strategies to meet evolving customer demands for connectivity, convenience, and choice, they’re relying on customer research to dismantle many of the industry’s lingering misconceptions about these not-so-new service platforms.

Intact Insurance’s Alan Spruin, director, business development, Atlantic, and Deborah Moore, vice president, sales and business development, Ontario East, sat down with Insurance Business to debunk seven of the most common myths about online customer service tools, using data from Intact’s Customer Pulse Survey.

The annual survey centres on customer awareness of and interest in the Intact Insurance App, and Client Centre, Intact’s customer web portal.

MYTH: Brokers don’t talk to customers about digital solutions.

FACT: Customer research data consistently confirms that brokers are the primary advocates for insurer digital tools.

“Brokers continue to play a key role

in raising awareness of digital tools with customers,” Spruin says. “Among surveyed Intact customers, 70% are aware of Client Centre, and 59% are aware of the Intact Insurance App.

“When we ask those customers, ‘Where did you heard about our digital tools?’, their broker always comes at the top of the list.”

More than a third of customers hear about digital tools from their broker. Email and mail – the old-school paper kind – are the second and third sources of information for customers, with email being more than 10 points and mail more than 20 points behind a broker.

MYTH: Insurers are pushing the digital agenda.

FACT: Customers drive technological innovation in the insurance industry.

“Today’s customer expects connectivity, convenience, and choice,” Moore says. “Other financial industries have a digital experience, so customers expect the same from insurance. These expectations drive innovation in our industry.

“Insurance often isn’t a daily thing. That’s why the interconnectivity between the broker and the digital tool is so important. Customers feel confident engaging online, knowing that when they

have a question or are confused their broker is just a tap or click away.”

MYTH: The digital pink slip is not legal.

FACT: It is legal in most provinces – and more and more customers know it.

Since Nova Scotia became the first Canadian province to “legalize” the pink slip in 2018, other provinces have quickly followed. Digital proof of insurance is now valid in Alberta, Newfoundland and Labrador, the Northwest Territories, Nova Scotia, Ontario, Prince Edward Island, Quebec, Yukon, and, as of February 2023, New Brunswick.

Intact’s research shows that 41% of customers are aware of pink slip legality. Awareness is highest among 18- to 29-yearolds (62%) and in the west (61%).

“Customers prefer to have the option to choose how they receive their proof of insurance,” Spruin says. “At this point, most want both physical and digital.”

MYTH: Customers just use digital tools like the Intact Insurance App for pink slips.

FACT: While accessing their digital proof of insurance is one of the top uses of digital tools, customers also use them to consult

Brokers are the primary advocates for digital insurance platforms with customers – supporting their customers’ demand for choice in how they interact with their insurance information

invoices, review their insurance documents, and submit and track claims.

About 50% of surveyed customers report high interest in using digital tools to follow up on the status of a claim. The features of most interest to Intact Insurance App users of my Drive are Crash Assist, with Car Care, which alerts customers to manufacturers’ recalls, coming a close second, followed by Weather Alerts.

“Customers usually think of insurance after something happens,” Spruin says. “Using features like Car Care, Weather Alerts or our current pilot feature, Home upkeep, helps customers get proactive about protecting themselves before an incident.”

MYTH: Older customers are not interested in digital tools.

FACT: Customer research shows more and

more interest in both mobile apps and desktop solutions among all age groups.

“For customers aged 65 plus, awareness of Client Centre is at 70%, while awareness of the app is at 54%, an increase of 10% and 12% respectively over last year,” Moore says. “The conversations brokers are having around digital tools are sticking with this demographic.

“Knowing their broker is only a tap or click

away offers all demographics of customers more comfort with the tools.”

MYTH: Digital tools erode the personal relationship between broker and customer.

FACT: A digitally connected customer is a satisfied, loyal customer.

“Second-to-none customer service, delivered by a broker and extended by a

“Other financial industries have a digital experience, so customers expect the same from insurance. These expectations drive innovation in our industry”

Deborah Moore, Intact Insurance

DIGITAL TOOLS

digital experience, promotes customer loyalty,” Spruin says. “At Intact, we design our digital tools with two things in mind: Does it make the customer experience better? And does it make our product easier and better for brokers to sell?

“When we execute on that strategy, we end up with loyal, satisfied customers, which is good for customers and good for brokers.”

BY THE NUMBERS

Brokers are the primary advocates for digital tools, raising customer awareness:

35% of customers hear about the Intact Insurance App through their broker

26% of customers hear about the app by email

12% of customers hear about the app via mail

Digital tools drive satisfaction:

39% of customers would rather stay with their insurer because they are satisfied with their digital tools

53% of customers consider their satisfaction with their insurer’s digital tools as impacting their overall satisfaction and decision to stay

Customers are most interested in using digital tools to:

consult insurance documents (63%) consult premiums/invoices (60%) access pink slips (60%)

Female customers are more aware of digital insurance solutions than male customers:

74% of women are aware of Intact’s Client Centre versus 67% of men

63% of women are aware of the Intact Insurance App versus 55% of men 7

MYTH: Going digital is an all-ornothing proposition.

FACT: Going digital is a spectrum, and it’s all about choice.

“Going digital is not an end-all, be-all solution; it’s a spectrum,” Moore says.

“People are not homogenous, insurance is not homogenous, and digital tools aren’t homogenous either. Some customers may want to have everything available on their

mobile devices, some may choose to use a desktop to access certain documents and features, while others may want to just pick up the phone.

“Insurers and brokers need to make sure that there is an option for each individual and their needs.”

“Customers usually think of insurance after something happens. Using Car Care, Weather Alerts or our current pilot feature, Home upkeep, helps them get proactive about protecting themselves”

Alan Spruin, Intact Insurance

Working together, delivering excellence

We stand shoulder to shoulder with you and your clients to help identify, understand, prevent, and manage the exposures that could throw their business off track. Rely on a sustainable partnership that gets your clients back to business quickly and confidently, with a dedicated claims team, and the right support from the right people, every step of the way.

Aviva’s Global Corporate & Specialty team empowers and protects your ambitions for today and tomorrow.

Learn more at aviva.ca/gcs

It takes you. It takes partnership. It takes Aviva.

BROKERS ON MGAs 2023

Brokers from across the country have ranked the MGAs that stand out as the best operators in the wholesale distribution channel across 20 major types of insurance

BROKERS ON MGAs 2023

WHOLESALE POWERHOUSES

BROKERS ACROSS Canada are clear on what they seek from their MGA partners. In an Insurance Business survey of hundreds of brokers, three reasons they would choose an MGA stood out by some distance:

• for a specialty coverage

• for coverage or a market they don’t have access to

• for a very specific coverage need

This is backed up by Mark Whiteley, director of commercial lines at Billyard Insurance Group, who lists the following as key features brokers seek from MGAs:

• responsiveness/ease of doing business (quick turnaround on quotes; receiving

phone calls, replying to emails in expected time frame)

• intuitive website (easy-to-find UW contacts; specific applications required for unique risks; details on coverage packages offered)

• multi-province support

• technolog y to help in quoting process or information intake (portals, connectivity, premium finance)

• relationships

• wide range of products

The ratings of the 5-Star winners for 2023 were calculated, and the top three wholesale brokers and MGAs for each type of insurance were awarded gold, silver, and bronze medals.

HOW MANY TIMES HAVE BROKERS WORKED WITH AN MGA IN THE LAST SIX MONTHS?

Chutter Underwriting Solutions

North Vancouver-based Chutter Underwriting Solutions is one of Canada’s top MGAs and was lauded for its overall service and efficiency.

“We have quite a broad underwriting authority and an internal mandate to get back to every retail broker submission within 24 hours with complete information,” explains senior casualty underwriter Morgan Chutter. “If we see a risk that doesn’t fit, we decline it immediately so that our broker can get on to the next.”

Some of the broker feedback on Chutter Underwriting Solutions included:

• “Grea t people to work with, very responsive and collaborative”

• “Fantastic service and great partnership

“If we see an inefficiency in our business model or something that we need to fine-tune, we make a decision very quickly”

Kevin Williams, Chutter Underwriting Solutions

overall. Makes our lives much easier when trying to find the right solution for our clients”

• “Chutter is phenomenal in every way and I would not have suggestions on how they might improve. Top MGA we’ve been using for years”

• “Ex cellent responsiveness; they’ll advise quickly if risk is something they can help with. Good quotes, quickly and correctly. Very impressive service”

• “Outstanding service and a long, notable history in this space”

The firm knows from its own dialogue with brokers that their ability to provide an answer and be accountable marks them out.

“The broker is always going to get a reply, and the brokers that do deal with us on a regular basis understand that, regardless of whether it’s a fit or not,” Chutter adds. “I think that’s really what separates us from our competition; it’s a major complaint that we hear from other markets and the retail broker network.

“A lot of MGAs are after the same business, so in order to separate yourself and bring value to an account that maybe 10 other MGAs would happily quote on, if we can get back to the broker the fastest on that piece of business, we feel that gives us a special edge.”

The business began in 1996 with the founders still involved. That degree of control enables Chutter to be proactive.

Kevin Williams, also a senior casualty underwriter, says, “We certainly pride ourselves on the fact that we are independently owned and operated, and that agility allows us to be flexible. It allows us to round out anything that might need rounding out, and I think that’s what separates us.”

Chutter is focused on remaining on top and has developed a range of digital tools to do this, but it has not lost sight of providing human interaction.

“Brokers can get a no-touch quotation in various areas. We do understand that’s

the future, but we still see a huge value-add and requirement for physical human underwriting in probably 80% of the space that we play,” says Chutter.

The broker respondents selected the firm’s Commercial General Liability as one of the Top Product picks, with one commenting:

• “Great program and good rates for a tough class of business”

In becoming one of Canada’s top MGAs, Chutter’s achievements so far include:

• working regularly with 1,200+ brokers

• access to over 10 of the world’s largest insurers

• liabilit y limit capacity up to $25,000,000+

• over $500 million in written premium

However, the business is not standing still and is focused on refining its offerings.

“The fact that we deal with both London markets as well as domestic insurers really allows us to keep our finger on the pulse. In dealing with multiple brokers on a daily basis, we certainly get feedback and have conversations, and we really get a good feel for where the market’s at on a certain risk or in a certain class of business,” Williams says.

Explaining how their internal mindset has been key to their success, he adds: “We’re constantly looking for ways to evolve but making sure that we have people with adequate experience to look at those lines of business; we don’t want to bring a product to market where we can’t satisfy it.”

ABEX: Affiliated Brokers Exchange

Stability is a fundamental plank of 5-Star firm ABEX’s strategy, and part of that is a commitment to refusing to slash prices to win business.

“We have the ability to be very selective in our approach to growth, which benefits our brokers by providing them with a

METHODOLOGY

Insurance Business conducted a survey of brokers nationwide to determine the best businesses in Canada’s wholesale distribution channel. The survey asked respondents to rate the performance and service of each of their wholesale partners on a scale of 1 (poor) to 5 (excellent) against the following 10 criteria:

• ability to place niche or emerging risks

• compensation (commission, bonus, profit share, etc.)

• geographical reach

• marketing support

• overall responsiveness

• pricing

• range of products

• reputation

• technical expertise and product knowledge

• technology or automation

The MGAs that earned an average score of 4 or greater in at least one category were awarded a 5-Star designation. MGAs that received an average score of 4 or greater in all categories received an All-Star designation.

Brokers were also asked to rank their top three MGAs across 20 major types of insurance. Brokers also named the top insurance products offered by an MGA. Based on brokers’ feedback, IB calculated the top three winners for each type of insurance and awarded gold, silver, and bronze medals to those wholesale brokers and MGAs. The three insurance products that received the most votes from brokers were awarded the Brokers’ Pick medal.

stable MGA partner. We have often seen our competitors undercut our pricing, that we know to be profitable, only to have their capacity reduced when poor underwriting

BROKERS ON MGAs 2023

exceed everyone’s expectations.”

This strict methodology continues to drive the company’s success facilitated by its ownership model.

“Being independently owned, our process of risk selection is key in managing a profitable portfolio for our underwriting partners, so we don’t have the pressure of multiple shareholders driving our growth,” McGregor explains.

ABEX’s highest rating across the criteria graded by brokers was in the technology/ automation category.

Describing the company’s approach, McGregor says: “Traditionally, our investments in technology have been to solve bottlenecks in processes, such as Lineage uploads. Our technology has made it so that we can issue policies almost instantly, so our brokers don’t have to wait for policy documents from us. We’re continuing to look for technology solutions that will help get our brokers’ submissions into our system more efficiently.”

And despite being based in Waterloo in Ontario, the province where ABEX does most of its business, the team is mindful of working nationwide.

“We are focusing the distribution of our products in other provinces as well to bring a more balanced approach to our brokers,” McGregor says.

Canadian brokers’ analysis

This year’s 5-Star winners are leading the way in the industry.

Bruno Cordeiro, managing partner of Billyard Insurance Group, identifies the areas where even more gains could be made.

results catch up to them,” says president and CEO Jad McGregor.

“We work really hard to make sure that ABEX is a stable option for our brokers, so

that they can advocate our value to their clients. The age-old line ‘You get what you pay for’ is still relevant today, and we believe that the products that we deliver should

“Premium seems to be the top reason. As business margins become slimmer, business owners look for more ways to save, including their insurance premiums. Another reason would be an extra coverage required on an insured’s policy that falls outside the appetite of the current MGA,” he says.

“We are specialists in misunderstood risks because we look at risks differently” Jad McGregor, ABEX

With an ever-changing insurance market, broker respondents also highlighted to IBC what they want from their MGAs going forward.

Some of the feedback included:

• “Increase product coverage and cover Quebec”

• “Reduce minimum premiums when dealing with Life Science startups”

• “Stop being a middleman mailbox and assist in closing high-end business”

• “Assign more experienced staff to subbroker’s business. Wherever possible, use claims staff who are dedicated to the particular program and/or local adjusters with expertise in the specific programs”

• “L ook into adding additional coverages like overland water, service line coverage, groundwater coverage, and with regard to condos, add the coverage for strata deductible assessment”

• “ Timely response to questions that come up from insureds, especially when dealing with COI requests”

• “A portal to speed application and binds up”

• “Automation/syncing quote approaches with a virtual online app or portal, or integrating policy delivery with our BMS (EPIC), particularly for non-complex monoline products”

• “Provide renewal terms prior to expiry and release policy documents within 60 days of binding”

INSIGHTS

As part of our editorial process, Key Media’s researchers interviewed the subject matter experts below for an independent analysis of this report and its findings. Mark Whiteley Director of Commercial Lines, Billyard Insurance

Bruno Cordiero Managing Partner, Billyard Insurance Group

Group

BROKERS ON MGAs 2023

BROKERS ON MGAs 2023

5-STAR MGAs

Pricing

Agile Underwriting

Phone: 18773438224

Email: contact@agileuw.ca

Website: agileuw.ca

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

CHES Special Risk

Forward Insurance

PAL Insurance

Ridge Canada

Special Risk Insurance Managers

Victor

Compensation (Commission, Bonus, Profit Share, Etc.)

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

Ridge Canada

Range of Products

Agile Underwriting

Phone: 18773438224

Email: contact@agileuw.ca

Website: agileuw.ca

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

Burns & Wilcox

CHES Special Risk

Forward Insurance

Premier

Ridge Canada

Special Risk Insurance Managers

Victor

Technology/Automation

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

Forward Insurance

Ridge Canada

Victor

BROKERS ON MGAs 2023

BROKERS ON MGAs 2023

5-STAR MGAs

Technical Expertise and Product Knowledge

Agile Underwriting

Phone: 18773438224

Email: contact@agileuw.ca

Website: agileuw.ca

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

Burns & Wilcox

Cansure

CHES Special Risk

Forward Insurance

PAL Insurance

Premier

Ridge Canada

Special Risk Insurance Managers

Totten

Victor

Marketing Support

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

Forward Insurance

Ridge Canada

Victor

Reputation

Agile Underwriting

Phone: 18773438224

Email: contact@agileuw.ca

Website: agileuw.ca

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

Burns & Wilcox

Cansure

CHES Special Risk

Forward Insurance

PAL Insurance

Premier

Ridge Canada

Special Risk Insurance Managers

Totten

Victor

Geographical Reach

Agile Underwriting

Phone: 18773438224

Email: contact@agileuw.ca

Website: agileuw.ca

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

CHES Special Risk

Forward Insurance

PAL Insurance

Ridge Canada

Special Risk Insurance Managers

BROKERS ON MGAs 2023

BROKERS ON MGAs 2023

5-STAR MGAs

Ability to Place Niche or Emerging Risks

Agile Underwriting

Phone: 18773438224

Email: contact@agileuw.ca

Website: agileuw.ca

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

CHES Special Risk

Forward Insurance

Ridge Canada

Victor

ALL STARS

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

Ridge Canada

Overall Responsiveness

Agile Underwriting

Phone: 18773438224

Email: contact@agileuw.ca

Website: agileuw.ca

Chutter Underwriting Solutions

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Abex

Aurora Underwriting Solutions

CHES Special Risk

Forward Insurance

Ridge Canada

Victor

BROKERS’ PICK

Chutter Underwriting Solutions, Commercial General Liability

Phone: 16049840285

Email: morgan@chutteruw.com

Website: chutteruw.com

Aurora Underwriting, Farm Insurance

Forward, Builder’s Risk

BROKERS ON MGAs 2023

CASUALTY INSURANCE

SUM cooking up new hospitality policy

SUM INSURANCE has something cooking in its hospitality kitchen; it’s ready to take the lid off its new hospitality casualty insurance policy. Aimed at restaurants, it’s been several years in development.

“It’s a segment we’ve dabbled in and we write, in particular, first party coverage for,” Jeff Somerville, managing director of SUM Insurance, tells Insurance Business during a recent interview alongside Dan Lopes, assistant vice president of commercial general liability.

Somerville admits it’s a class that can be a “challenge to attract committed, long-term insurance capital to underwrite, given its storied history, particularly when it comes to host liquor liability in Ontario.”

“In general, it’s a tough nut to crack,” he says.

He commends Lopes for developing a pool of insurers for a primary commercial general liability offering specific to the

hospitality sector in Canada. “We’re very close to having that complete and able to put into the marketplace for Canadian restaurants,” Somerville says.

The restaurant sector, an industry designed to bring people together, was particularly hard hit during the pandemic, when that was often forbidden or restricted. And even with its resurgence post-pandemic, staffing and supply chain issues continue to bedevil the sector. Even so, “we think it will be well received and of interest to a very broad base out there. We’re quite excited about putting

out our shingle and being part of a solution.”

SUM is hoping to have the program live by October 1.

From class project to full policy

Lopes got the idea for the program while he was completing his final project for his Fellow Chartered Insurance Professional (FCIP) training in 2020.

Inspired by a class project, SUM Insurance has developed a policy that looks at restaurants in a whole new way

“The revenue doesn’t always tell us about the exposure. We are using more of a [sales] unit metric than revenue”

Dan Lopes, SUM Insurance

“One of the options for the final project was to implement something at your company,” Lopes recalls. “I told Jeff about it, and he got excited and said, ‘Hospitality. We’re doing hospitality.’ I could see that look of excitement in his eyes.”

It’s been three years in the works, doing the initial research and expanding their understanding of the industry climate and the landscape of the product itself. Even though he has a newborn at home, Lopes jokes that “this has been my baby” since before his flesh and blood child was born.

Between the classroom and the launch, Lopes and his SUM associates spoke with Restaurants Canada and a law firm that served the sector. Both groups “gave us some

insights into industry trends and how to approach certain characteristics. We did get a lot of insight. I talked to many producers and brokers to see a lot of this business and how to write for it. I definitely had a lot of intel,” Lopes says.

He calls it an “interesting time” to have been working on an insurance product for the hospitality sector during the pandemic, when it was being hit so hard. “They were really hurting,” he says. Even now, “it’s still a very tough class of business to write, and not a lot of players are doing it. So the supply and demand is definitely still there.”

One of the things that makes the program unique is how SUM comes up with a restaurant’s rate. “We’re doing a

CANADA RESTAURANTS: SALES SNAPSHOT

Food services and drinking place sales in thousands of dollars, according to Statistics Canada:

Total, food services and drinking places: $7,738,834

Special food services: $616,706

Drinking places

(alcoholic beverages): $205,855

Full-service restaurants: $3,404,200

Limited-service eating places: $3,512,072

CASUALTY INSURANCE

per-unit rating,” Lopes says. “So the rate is based on the actual number of units of alcohol sold, which you’re able to track through your point-of-sale systems, your inventory measures. You can issue a velocity report from the [Liquor Control Board], for example.”

One unit of alcohol would be one beer or one glass of wine, or one ounce of hard liquor, “and that’s how we’re rating it, rather than rating it on revenues, which might not tell the full picture. If you have a place that’s selling really cheap drinks, even though you’re not making as much overall, there’s still more exposure at play than selling more expensive drinks but making much more money,” he says.

Lopes gives the example of a bar that sells liquor at $20 a glass. Across the street, another bar sells liquor at $1 a glass. The latter bar “is selling more liquor at the end, even though it’s cheaper. So the revenue doesn’t always tell us about the exposure there,” Lopes says.

What makes a “white tablecloth” restaurant?

Another differentiator is how much each seat generates in revenue annually. A “white tablecloth” restaurant – say, a fancy French restaurant – would generate more revenue per seat than a more modest mom-andpop establishment. The French restaurant would go into the “white tablecloth” category of coverage, while mom and pop’s place “gets treated like a regular restaurant,” Lopes says.

But setting the price can go beyond what’s on the menu. Rate loadings, discounts and surcharges can be based on

the establishment’s physical location, and features like railings, dance floors, dancer poles, illuminated exit signs, whether or not the seats are affixed to the floor, and other factors.

“Not reinventing the wheel there, but we do have a pretty full list of things that we are looking out for as well,” Lopes says. “You look at things like staircases and railings, and all of these things where you’ve seen claims develop from freak accidents.”

When he is at a restaurant himself these days, even as a customer while waiting for his order, “I always kind of look at it now and put my underwriting hat on.”

Protecting servers, chefs, and other staff is “one of the biggest exposures” as well, Lopes says. “That definitely goes into the underwriting guidelines and how we want to vet these guys. Training and manager experience is extremely important.”

The hospitality industry has traditionally had a high turnover of personnel anyway, but this has been exacerbated by so many people leaving the sector after the pandemic.

“If you get newer people who don’t have as much experience, that’s going to lead to potential claims,” Lopes says. “It’s something you have to be mindful of, and it’s definitely tough. A lot of people in the industry left during COVID, and there are more newer people coming into it.”

The product has already been garnering buzz throughout the insurance industry, with calls and emails asking when the product will launch. “I say, ‘Sit tight’!” Lopes says. “It’s not a matter of if, but when.”

“We’re really putting our name behind it,” Somerville adds. “All good things take time.”

RESTAURANT INDUSTRY CHALLENGES, OPPORTUNITIES

In August 2022, the monthly sales of food services and drinking places in Canada amounted to $7.85 billion –above the $6.98 billion recorded for a similar period in 20191

But there were 171,715 job vacancies in the food service industry, a threefold increase from pre-pandemic levels2

Overall inflation reached a high of 7.8 percent in 2022, but food inflation reached 11.4%. Some specific costs, such as the need to fill a deep fryer with oil, doubled or even tripled in some cases3

72 percent of restaurant operators increased hours worked by ownership and management-level staff2

64 percent of restaurants reduced hours of operation2

77 percent of restaurants raised wages2

80 percent of restaurants took on new debt during the pandemic; 44 per cent of independent, full-service restaurants took on $50,000–$100,000 in debt2

Still, the recovery continues. In the first quarter of 2023, restaurant visits increased by 11%, and spending rose by 18% during the March quarter, compared to the same quarter last year4

Sources: 1Statista; 2RestaurantsCanada; 3TVOntario; 4RetailInsider(citingCircanadata)

“We’re really putting our name behind it. All good things take time”

Jeff Somerville, SUM Insurance

JAMIE LYONS ON GROWTH AND TRANSFORMATION

The CEO of Westland Insurance Group shares why his mission is to make the business Canada’s favourite insurance broker – and lifts the lid on its strategic pillars and growth momentum

WESTLAND INSURANCE GROUP president and CEO Jamie Lyons’ vision for the brokerage business is simple: to become Canada’s favourite insurance broker.

“ ‘Favourite’ sounds like a simple word, but to us it means to be preferred and trusted above all, which is the greatest thing we can achieve as an adviser, employer, partner, and member of our community,” Lyons tells Insurance Business

Westland is Canada’s largest independent brokerage, with more than 250 locations and 2,500 employees across the country.

Lyons, who assumed the top role at the compan y at the start of the year, says growth is among the key areas Westland will be focusing on in the coming months, which include its digital transformation and embracing its broader purpose as an organization.

How will Westland Insurance look to grow?

To become Canada’s favourite insurance broker, Lyons says Westland will focus on what he calls its strategic pillars:

1. To provide exceptional client experience

2. To be a caring, modern and inclusive employer

3. To be an authentic and invested community member

4. To be the preferred partner of insurance providers

5. To be the best mergers and acquisitions (M&A) partner

“Ultimately, what we’re trying to do is build up our business thoughtfully for the future,” Lyons says. “We’re trying to build a business that’s going be around decades from now, and we’re doing this in a shifting and evolving industry.”

Growth, whether through further acquisitions or by upgrading its technology capabilities, is “fundamental” to Westland’s entrepreneurial journey, according to Lyons. It also allows the organization to live out its strategic pillars.

“Growth is also important in terms of relevance with insurers – we’ve seen the industry coalesce around fewer, more strategic partners in recent years”

PROFILE

Name: Jamie Lyons

Company: Westland Insurance Group

Title: President and CEO

Joined Westland: 2016

Previously worked at: Guy Carpenter

Vision for the business: To be Canada’s favourite insurance broker

“Growth enables us to make the investments that we feel we need to make to be around for the long term,” Lyons says. “It also allows us to attract better talent into the organization and offer more career opportunities to our people.

“Our growth allows us to give back more to our communities, not just through philanthropy, donations, and volunteerism but also by providing local employment and contributing to local economies – the more we scale, the more resources we have to do that.

“Growth is also important in terms of relevance with insurers – we’ve seen the industry coalesce around fewer, more strategic partners in recent years.

“The more we scale, the better we are able to access a wider swath of the market. And ultimately that allows us to bring better solutions to bear for our clients.”

Building a strong national footprint

Westland has shown no signs of slowing down its acquisition spree in 2023. The group struck deals to buy two businesses at the start of February: Quebec’s Niche Assurance and Saskatchewan’s Heritage Insurance. Further buys have included May’s First Durham deal, as well as Andrew Agencies, MYCOR Insurance Solutions and Murphy Insurance Services in June,

Manitoba-based Sigurdson Financial Benefits in July, and Hubbard Insurance Group and Assurance B. Belliveau Insurance into August.

Westland will look to continue building “a strong national footprint” as it proceeds with further acquisitions, Lyons says. This means not just finding new communities to enter but also strengthening its presence in its current communities.

“We’re fortunate to be represented in nine provinces now across the country,” he says. “I would say we are continuing to look for opportunities to continue to grow through acquisition in all those provinces and regions.”

Westland also continues to see more opportunities in Ontario and eastern Canada, where it’s been expanding in recent years.

“We’re fortunate to be in a recessionresilient industry, in that we may be less impacted if Canada is entering a recessionary environment,” Lyons says.

“There’s a lot of things within the insurance sector that make it an attractive industry for people to want to invest and want to deploy capital.” Westland partner Blackstone Credit invested a further $250 million in the brokerage group last December, bringing its total investment in Westland to $1.4 billion.

“[The funding] is helping support some of the investments that we have made,

WESTLAND INSURANCE GROUP: FAST FACTS

Canada’s largest independent brokerage Westland was founded in 1980 as a single family-owned brokerage in Ladner, BC

Employs approx. 2,500 staff in more than 250 locations across nine provinces of Canada

Jamie Lyons

was named president and CEO effective January 1, 2023. He was previously president and COO, a role he had held since 2019

including our technology and infrastructure,” Lyons says. “It has a twofold [benefit], supporting both the organic and inorganic initiatives of the organization.”

Asked about the possibility of Westland

“We’re trying to build a business that’s going be around decades from now, and we’re doing this in a shifting and evolving industry”

being bought out by a larger investor, Lyons says it isn’t in its vision for the near future.

“Our objective is always to ensure that we’ve got a strong balance sheet so we can continue to pursue the strategy that we’ve been pursuing. As a proudly independent Canadian company, we are very closely connected to our roots,” he says.

“Our intention is to continue on the growth journey and to stay closely aligned and committed to the culture of the organization.”

Transformation and purpose

In terms of its digital transformation, Lyons says Westland will continue to replatform its technology, re-engineer its processes, position itself for “excellence in the omnichannel experience,” and extend its digital product distribution.

Healthcare

Allied Health, Clinics, Cosmetic Surgery, Home Care, Mental Health and Addiction, Senior Care, and more.

Life Sciences

Biologics, Clinical Research Orgs, Clinical Trials, Consulting, Medical Devices, Pharmaceuticals, Supplements and more.

“It’s been a huge operational and financial effort but one that we think is incredibly vital to our success in the longer term,” Lyons says.

Finally, Westland is looking closely into its social and environmental impact. The group is exploring several environmental initiatives that it plans to roll out later in the year.

“We’re connecting a lot more to our purpose through the strategic pillars that I talked about,” Lyons says. “But we’re also aligning ourselves with and learning from other organizations in our industry; several of them have made some incredible commitments and great progress.

“We’re not a big carbon-emitting business, but there’s a lot of ways that we can make a fairly significant impact. Part of the journey is educating ourselves and learning the different ways that we can make a difference.”

Media Entities E&O

Advertising Agencies, Brand Development, Graphic Designers, Marketing Consultants, PR Firms, Publishers and more.

Miscellaneous E&O

Educators, Property Managers, Real Estate Agents, Recruiters, Various Consultants and more.

Manufacturing Clothing, Cosmetics, Food and Beverage, Soaps and Detergents and more (no limit on US sales).

Wholesale & Distribution

Computers, Electrical Appliances, Furniture, Hardware and Garden Supplies and more (no limit on US sales).

“The more we scale, the better we are able to access a wider swath of the market. And ultimately that allows us to bring better solutions to bear for our clients”

CYBER INSURANCE

SMEs get ‘proactive’ protection with Victor Cyber

WHILE COMPANIES of any size are a potential target for a cyber breach, small- to medium-sized enterprises make up the bulk of the victims of these attacks.

Seventy percent of ransomware incidents were against firms with fewer than 1,000 people and less than $50 million in revenue, according to a 2020 study conducted by Coveware, a ransomware recovery first responder company.

Additionally, Canadian companies are disproportionately affected by ransomware claims compared with companies anywhere else in the world.

In response, Victor Insurance Managers Inc. (Victor Canada) developed its Cyber Insurance program, including complimentary risk management tools, access to cyber experts, and the mobile Victor Response app to help Canadian businesses, including SMEs, get one step ahead of a threat actor.

A widespread issue

The Victor Cyber Insurance program was developed to “respond to the needs of brokers and their clients for a competitively priced

cyber insurance solution with broad coverage,” says Kevin Auger, department leader and senior vice president of cyber, technology and errors & omissions at Victor Canada.

approach to the problem,” Auger says.

What sets Victor apart in the cyber insurance market is the unique approach it takes through its Cyber Insurance program

Cook, Victor Canada

While spending on cybersecurity is increasing year after year, hackers are still succeeding in creating and carrying out successful ransomware attacks.

Throwing money at a problem is never the lone answer. “Instead, there is a need for a proactive and strategic management

to preventing and protecting customers against an attack.

“With Victor Cyber, companies have exclusive access to world-class risk management services such as phishing training and dark web monitoring,” says Stephanie Duclos, underwriting manager and

As SMEs continue to be a prime target for cyberattacks, Victor Insurance Managers is paving the way for world-class protection and risk management

“We recognize that a cyberattack can be detrimental to a company, not just because of the financial loss. It can also damage a company’s reputation and safety.

With Victor Cyber, we can help protect our policyholders from these risks”

Dave

vice president of cyber, technology and errors & omissions at Victor Canada.

Other protections, resources and benefits include:

• Cybercrime support against fraudulent activities such as extortion, corporate identity theft, telephone hacking, etc.

• Systems damage and business interruption services covering costs related to income loss and extra expenses, reputational harm, claim preparation, etc.

• Network security and privacy liability, which includes management liability, regulatory and payment card industry (PCI) fines, penalties and assessments, etc.

• Media liability support to defend against threats such as defamation and intellectual property rights infringement

• A suite of risk management services such as proactive threat intel alerts, dark web monitoring, deep scanning, phishing-focused employee training, and access to cyber experts, including incident response specialists

There’s an app for that

To further its offerings, the MGA offers its Victor Response mobile app. The app was designed to bolster a client’s cybersecurity profile and help businesses prevent attacks by detecting ever-evolving vulnerabilities through tailored security alerts. The preventive service identifies potential threats using insights from proactive scanning, dark web monitoring, and a variety of public and private threat intelligence feeds, and this happens continuously for as long

VICTOR CYBER POLICY HIGHLIGHTS

Cyber incident response costs (including information technology forensics, legal, breach notification, and crisis communications)

Cybercrime (including social engineering, theft of personal funds, cyberextortion, ransomware attacks, and unauthorized use of computer resources through “cryptojacking” or “botnetting”)

System damage and business interruption (including full data recreation, income loss and extra expense, additional extra expense, consequential reputational harm, and hardware repair and replacement)

Network security and privacy liability (including management liability arising from a cyber event, and regulatory fines and penalties)

Media liability (including defamation and intellectual property rights infringement)

Court attendance costs

Victor Response mobile app – suite of risk management services, tools, and training (including cyber risk monitoring and incident response tools such as proactive threat intel alerts, dark web monitoring, and deep scanning; phishing-focused employee training; and access to cyber experts, including incident response specialists)

as the business is insured with Victor.

“The Victor Response app can detect a company’s cybersecurity vulnerabilities and alert them to potential cyberthreats,” Duclos says. “The app also allows them to obtain cybersecurity advice or notify a cyber expert team instantly in the event of a cyber incident.”

CYBER INSURANCE

Once a client signs on the dotted line, they get access to a team of cyber experts, which includes incident response specialists. Should a cybersecurity threat be detected, these cyber experts work directly with the Victor policyholder to notify and eliminate the risk before it can cause any issues. The app allows these experts to offer critical guidance and facilitate quick remediation through a verified and secured line of contact with the policyholder.

Companies of any size can take advantage

of the app’s cyber risk management services, which also include free employee phishing simulations to help employees identify cyberthreats.

“Our goal is to provide a proactive, serviceoriented cyber product that goes beyond risk awareness and protection in the event of a covered cyber incident,” Duclos adds.

Finding solutions for SMEs

Victor has also created a new application form to make it easier for businesses that

CYBER CLAIMS OVER TIME

Top causes of loss for financial services organizations with an average annual revenue of $51 million:

Business email compromise

Ransomware Hackers

Average incident cost per year:

2017: $84k

2018: $135k

2019: $97k

2020:$166k

2021: $233k

Source:netdiligence.com

are looking to acquire cyber coverage.

“Complex and lengthy cyber insurance applications can be intimidating – especially for small- to medium-sized firms that don’t have a lot of time and resources to dedicate to completing such forms,” Duclos says.

These clients will still have access to all the coverages that Victor’s Cyber Insurance program offers, including cybercrime, network security and privacy liability, system damage and business interruption – just to name a few.

“We recognize that a cyberattack can be detrimental to a company, not just because of the financial loss from the attack. It can also damage a company’s reputation and safety,” says Dave Cook, president of Victor Canada. “With Victor Cyber, we can help protect our policyholders from these types of risks.”

For more information on Victor’s Cyber Insurance program, visit www.victorinsurance.ca/cyber.

For brokers who are interested in Victor cyber sales tools and resources that they can share with their clients, visit www.victorinsurance. ca/cybersalestools.

“Our goal is to provide a proactive, service-oriented cyber product that goes beyond risk awareness and protection in the event of a covered cyber incident”

Stephanie Duclos, Victor Canada

BE PART OF THE EVENT OF THE YEAR

Leading insurance professionals from across the country will gather for the Insurance Business Canada Awards—an evening of celebration and recognition honoring the industry’s finest.

It will be a show to remember as you walk the red carpet, celebrate successes, toast the winners, and become a part of the Canadian insurance industry’s foremost awards ceremony.

Join us for an unmissable gala, taking place at the Liberty Grand in Toronto on November 16th. We look forward to welcoming the who’s who of insurance professionals.

For table reservations or sponsorship opportunities, visit https://ibawards.ca/ or scan the QR code.

AWARD SPONSORS WORLDWID E INSU RA NC E

BRIGHT FUTURE AHEAD

INSURANCE BUSINESS CANADA’S

Top 50 Rising Stars for 2023 are steering the insurance industry toward a dynamic future through their grit and determination to drive change and set new standards of excellence.

The talent and emerging expertise of this year’s cohort defy their age (under 35), and their significant impact on diverse facets of

the industry has earned them recognition from the distinguished judging panel.

“Talent goes beyond knowing the technical component of their job,” explains one panel member, Dionne Bowers, owner of D. B. Solutions. “Young professionals need to be committed to change with the community, whether insurance or otherwise.

I believe every Rising Star must possess critical thinking, leadership, problem-solving, and soft skills to be successful.”

Fellow judge Joseph Carnevale, vice president of sales at Gallagher, adds, “Every event is an opportunity to step up and demonstrate leadership, regardless of their position or title.”

For the 2023 Rising Stars, a tenacious commitment to their craft has allowed them to shine in their workplaces and the industry.

WHAT MAKES A RISING STAR?

“I like to share stories, and that helps build bridges and community; if you know you’re doing the right thing in your heart, other people appreciate your candor”

Desmond Marryshow, Chubb

Desmond Marryshow – inclusion and representation champion Chubb Canada, commercial underwriter

Age: 34

Marryshow’s peers regard him as the future of insurance, not only for his expertise at Chubb and his industry association leadership but for his immense contributions to promoting diversity, equity, and inclusion. His nominators commented:

• “As an active member of the Canadian Association of Black Insurance Professionals, he always answers the call to volunteer, lift, and lead the way for Black insurance professionals”

• “Des is an active member of Chubb Pride Canada and speaks at 2SLGBTQ+ events about visibility and rights and promotes the insurance industry as an

cant accomplishments being appointed DE&I director at the Ontario Risk and Insurance Management Society.

“For me, that’s huge because now I can be visible, showcase our industry and let people know there is a place here for them,” he explains.

As a mentor, his emphasis on nurturing a sense of belonging and encouraging junior colleagues to be authentic has earned him widespread respect.

Marryshow leads by example by sharing his experiences through storytelling, creating a safe and inclusive space for himself and his peers.

“Speaking up and being visible has helped many people, and that’s what I want to continue to do,” he adds. “The impact I like to see is when others shine, can speak their mind and feel comfortable.”

This skill is praised by industry expert

METHODOLOGY

Starting in April, Insurance Business invited insurance professionals across Canada to nominate their most exceptional young talent for the eighth annual Rising Stars list.

Nominees had to be aged 35 or under (as of September 1, 2023) and be committed to a career in insurance with a clear passion for the industry. To maintain a focus on new talent, only nominees who hadn’t been previously recognized as Rising Stars (or Young Guns) were considered.

Nominees were asked about their current role, key achievements and career goals, as well as the contributions they’ve made to shaping the industry. Recommendations from managers and senior industry professionals were also taken into account.

The Top 50 Rising Stars were determined by an independent panel of industry leaders composed of:

Dionne Bowers

Vice Chair, Canadian Association of Black Insurance Professionals and Owner of DB Solutions

Jody Lohr

Insurance Institute of Canada career ambassador”

• “He is a phenomenal individual who goes out of his way to mentor insurance professionals, providing myself and others countless hours of guidance on our personal and professional lives”

Driven by a desire to make the insurance industry more inclusive and representative, Marryshow counts among his most signifi-

Carnevale, who says, “The ability to articulate a message is crucial. The smartest person in the world is useless if they can’t convince others to listen to them.”

Marryshow’s other accomplishments since joining the industry in 2017 include becoming:

• a junior board member of the Multicultural (Re)Insurance Association

• a Chartered Insurance Professional

Director, Insurance Brokers Association of Canada and Vice President of Operations, Excel & Y Insurance Services

Joseph Carnevale

President, Insurance Brokers Association of Ontario and Vice President of Sales, Gallagher

Tisha Hamid

Vice President, Young Insurance Professionals of Toronto and Client Service Manager – Surety, BFL Canada

“There’s so much to learn in this industry; be curious, be a sponge and soak it all in; keep your foot on the gas and get involved”

Alexander Rei, Echelon Insurance

TOP 50 RISING STARS

(CIP) and Canadian Risk Management (CRM) holder

Alexander Rei – passionate mentor Echelon Insurance, business development manager

Age: 30

Rei is in his dream job where his dedication to and excitement about the insurance industry radiates into all facets of his career. He is boosting his company’s growth and profitability and driving engagement with his industry peers.

Peers and clients praise his contributions:

• “His enthusiasm and passion for helping brokers are unparalleled compared to his peers, and his maturity and ability to connect with brokers are well above his age and experience in the business”

• “Alex goes the extra mile for his brokers and works tireless hours fostering that relationship; I love his passion for the industry”

• “I have never met anyone who cares more about providing the best service possible for their brokers and clients”

Rei continuously strives to make a broader impact on the industry by sharing his knowledge and expertise. He’s become an Insurance Institute of Canada instructor, teaching CIP courses to help others succeed.

“I can directly impact people in the industry, helping them to learn and get more technically proficient,” he explains. “I’m driven to be a part of people’s educational journey, and I’m committed to furthering my education in the field as well.”

As an ambassador and mentor at Young Insurance Professionals of Toronto, he advises new professionals in the industry to get up to speed quickly. He is exuberant about passing

“Everybody has something to contribute, and there’s something to be learned from everyone, so be open to experiencing new things”

Connor Chow, Western Surety Company

JOB TITLES OF 2023 RISING STARS

TOP 50 RISING STARS

on his business philosophy, which focuses on creating “unexpectedly spectacular moments” for clients.

“It’s important for me to communicate that we have work to do toward adding value to the overall client experience, particularly as our industry continues to rely on technology and the automation of tasks.”

Rei’s accreditations since joining the industry in 2011 include:

• Commercial Insurance certificate

• Chartered Insurance Professional (CIP)

Kelsey Hazelton – leader and educator

McFarlan Rowlands Insurance Brokers, commercial marketer

Age: 28

F inding her niche in the broker channel has inspired Hazelton to give back through teaching and education. She has attained vast knowledge and certifications, and her eagerness to expand her horizons has helped her develop leadership skills to grow in the broker channel, where she can make a more significant industry impact.

the path to success in their exams and career,” Hazelton says.

Since joining the industry in 2016, she has:

• become a RIBO Level 1 Licensing Course Facilitator at the Insurance Brokers Association of Ontario

• been appointed to the board of directors at the London Insurance Brokers Association

• attained CIP and CPIB designations, a commercial insurance certificate

• pursued the CMGA designation

“Being solution-focused in this industry is huge,” Hazelton adds. “I’m very driven in general, but especially when it comes to my job; I’m disciplined in what I’m doing and prioritize being a team player in this industry, which is all about relationships.”

Connor Chow – claims management trailblazer

Western Surety Company, national manager of construction projects and solutions

Age: 29

A background in construction and design

As one of only nine people in Canada to achieve professional Gold Seal certified status, Chow is poised to continue blazing trails in national construction claims management.

“I’ve built many relationships across the country with contractors and owners, helping them get their projects back on track,” Chow says. “That contributes to the bigger picture as a surety company, in that we always want to contribute to the positive industry image of surety and that surety bonds are the best protection for contractors.”

Since joining the industry in 2017, he has:

• achieved MArch, MRAIC, BCM, P. GSC, AScT, PMP, and LEED AP BD+C credentials

• been appointed a Saskatchewan Young Professionals and Entrepreneurs board member

• become a lead auditor for Technology Accreditation Canada, conducting audits of technical diploma programs

Chow’s ability to review significant sums of information, convey essential details, and provide technical solutions has been instrumental in dispute resolution.

It’s been a turbulent few years for the construction industry, with high interest rates, complex supply chains, and labour shortages. Chow’s strength in meeting adversity head-on means he is at the forefront as a crucial contributor in construction roles.

“It’s rewarding, and giving back is the best part, especially in the broker channel, which I love. I’m now in a position where I can share that knowledge with people who have no experience, in some cases, and lead them on

has proven a natural fit for Chow. Working with some of the largest contractors allows him to visit project sites where he contributes significantly by solving commercial construction issues on a large scale.

“The market right now needs builders, dreamers and doers; we need people that are going to start solving problems,” he says. “I see myself continuing to lead in problem-solving and construction roles, and I’m looking forward to being a key contributor to the construction industry in any way I can.”

“We have a lot of people with valuable institutional knowledge set to retire. Spend time with those people and learn as much as you can”

Kelsey Hazelton, McFarlan Rowlands Insurance Brokers

TOP 50 RISING STARS

Alexander Rei

Business Development Manager, Ontario

Echelon Insurance

Phone: 416 709 0609

Email: arei@echeloninsurance.ca

Website: echeloninsurance.ca

Connor Chow

National Manager, Construction Projects and Solutions Western Surety

Phone: 306 777 0602

Email: cchow@westernsurety.ca

Website: westernsurety.ca

Desmond Marryshow (Marécheau)

Commercial Underwriter Chubb

Phone: 647 215 1824

Email: desmond.marryshow1@gmail.com

Website: chubb.com

Kelsey Hazelton

Commercial Marketer

McFarlan Rowlands Insurance Brokers

Phone: 519 913 3137 ext. 1685

Email: khazelton@mcfr.ca

Website: mcfarlanrowlands.com

Lisa Fisher

Assistant Vice President, National Distribution Manager Arch Insurance Canada

Phone: 437 999 9634

Email: lfisher@archinsurance.com

Website: insurance.archgroup.com

Lorne McDougall

Vice President of Corporate

Development and Operations

McDougall Insurance Brokers

Phone: 613 966 7001 ext. 1286

Email: lmcdougall@mcdougallinsurance.com

Website: mcdougallinsurance.com

Yovan Bjegovich

National General Adjuster Charles Taylor

Phone: +1 647 499 3601

Email: yovan.bjegovich@idjuster.com

Website: charlestaylor.com

Agnes Dadura

SR Personal Lines Advisor

Long Lake Insurance

Alexia Menard

Underwriter

CHES Solutions Spécialisées

Andrei Belik AVP, Regulatory Affairs Aviva Canada

Andrew Ostro

CEO and Co-founder PolicyMe

Aneeza Ahmad

Director of Marketing Department KASE Insurance

2023 TOP 50

Brandon Khamvongsa

Quality Assurance Analyst

Gore Mutual Insurance

Brian Morison

Operations and Underwriting Manager Aurora Underwriting Solutions

Caitlin Bowie

Senior Sales Consultant, Living Benefits RBC Insurance

Candice Bergeron Internal Auditor Mutual Fire Insurance Company of British Columbia

Carmen Frustaci

Associate Underwriter Burns & Wilcox

Celina De Bruge Sales Manager APOLLO Insurance

Chris Fennell National Practice Lead, Hospitality and Forestry Agile Underwriting Solutions

Daniel Pearson Business Development Manager Intact Insurance

Dominic Gaudette Training Specialist Commercial Lines SME NFP Canada

Eileen Devlin AVP Finance Sovereign Insurance

Elizabeth Garvie Manager of Broking Administration Axis Insurance Managers

Gage Miranda

Personal Lines Sales Executive Munn Insurance

Jacqueline Soong Certified Financial Planner, Technology Trainer Desjardins Financial Security Independent Network

Joseph Hines

Regional Practice Leader, Cyber – Atlantic Region Gallagher

Jules Fazekas

Team Leader, Client Solutions NFP Canada

Kelsey Bill Commercial Account Specialist Beyond Insurance

Kevin Dal Cin Business Intelligence Analyst Équité Association

Lawrence Conmigo Director of Claims Intact Public Entities

Lindsay Carter Client Liaison/Technical Service Representative Petley-Hare Insurance Brokers

Louise Ngan

Product Manager, Data Science Aviva Canada

Marcus Crossdale

Group Account Manager benefitsConnect

Matthew Felato

New Business Manager, Specialty Solutions Zensurance

Megan Peters

Senior Underwriter CNA Canada

Milan Kalra Insurance Broker

Billyard Insurance

Nicole Rose

Commercial Account Manager

Cal LeGrow Insurance

Olivia Reed

Director Affinity BMS Canada Risk Services

Otis Wong

Senior Vice President, Talent Acquisition RT Partners

Rachel Choeng Senior Business Development Representative HSB Canada

Sarah Bacon Account Manager

Wilson M. Beck Insurance Services (Alberta)

Simone Castanedo Claims Manager

Echelon Insurance

Sogol Mirkhani

Transformation Lead, Claims SPG Canada

Steve Beeston

Portfolio Manager, Property Construction Volante Canada

Sukhman Brar

Team Lead, Personal Lines Armour Insurance Brokers

Tariq Ba’Aqeel

Senior Executive Director and Shareholder Experior Financial Group

Trevor Way

Partner

Keyes Insurance

Tyler Sartain

Team Lead, Special Investigations Unit

Northbridge Financial

Wura Jawando Manager ESG Disclosure & Reporting Gore Mutual Insurance

Xiaotang Gao

Senior Analyst CNA Canada

Get ahead—and stay there—with the power of V Squared

Victor’s commercial broker portal for small to mid-size accounts allows you to quote, bind and issue one-year or three-year policies* within minutes, 24 hours a day.

It’s fast and easy to use V2.

Choose multiple quote options to present to clients, get certificates of insurance—and even add CGL^ without any further questions.

Products currently available on V2:

• Architects & Engineers Small Firms liability insurance

• Construction Small Projects insurance

• Directors & Officers Management liability insurance for non-profit organizations

• Technology Small Firms liability insurance

Get a quote today!

Investing in self-leadership

thoughts to live and work in alignment with our values, aspirations, strengths, and talents.

Emotional intelligence expert Daniel Goleman highlights the value of self-leadership: “Exceptional leaders distinguish themselves because of superior self-leadership,” he says. Every time we speak to ourselves, we are building an internal relationship that can support or undermine us.

Why is self-leadership important?

There is a critical link between how we lead ourselves, how we perform at work, and our capacity to contribute to a thriving, healthy workplace.

Poor self-leadership has a detrimental impact on our brain functioning, cognitive and psychological agility, relationships, career, and wellbeing. Underperformance, being hard to work with, and energy-draining, rigid, negative, closed-minded, impatient,

Workplace resilience expert Michelle Bihary explains why it’s important to lead ourselves well in order to be effective in leading others

LEADERSHIP

competitive or even toxic beheviours are often the results of poor self-leadership.

Common ways people lead themselves poorly include perfectionism, overly focussing on weaknesses and limitations, ignoring strengths and skills, being harsh or toxic toward themselves, and neglecting their own needs, goals, and values.

The seven key reasons it is wise to invest in self-leadership include:

1

You can’t lead others if you can’t lead yourself

If you’re not leading yourself well, you won’t be effective in leading others. Our relationship with ourselves is the foundation for how we relate to others. If we don’t

pressure and have the energy to engage fully in both their professional and personal lives.

3

Positive impact on others, relationships, and teamwork

When we lead ourselves well, we’re empowered and take greater responsibility for and ownership of our energy, presence, and behaviours, resulting in more proactivity and positivity. We’re also more consistent and reliable, we have better boundaries, and we’re more empowered in meeting our own needs and so are less demanding of others.

4 Energy and mojo

Positive self-leaders invest in building and optimising their mojo.

a growth mindset, continually looking for ways to be enriched by the wisdom and skills of others.

Agency and autonomy

6

Feeling that everything is outside of their control is a common experience of poor self-leaders; they tend to focus their time and attention on what they can’t control, rather than what they can. Being pushed around more by what is outside of our circle of influence makes us feel powerless and overwhelmed. Self-leaders prioritise a mental focus on what they can influence and at the same time acknowledge what they can’t control.

7

appreciate our strengths, skills, and talents, we’re unlikely to be able to appreciate them in others. If we can’t trust ourselves, we’re less likely to trust others and more likely to micro-manage.

2

Sustainable peak performance

Leading ourselves well helps us maintain our mental and emotional bandwidth – our capacity to be present, adaptable, and agile. Self-leadership guides us to use self-awareness and self-care to optimise our energy, wellbeing, and vitality. If we’re not leading ourselves well, our potential may be squandered through neglecting to optimise our strengths and skills. Self-leaders understand the critical value of good self-care practices, ensuring they perform well under

They have the physical, mental, and emotional energy necessary to meet their professional and personal demands. They don’t waste time on energy-draining behaviours like unnecessarily harsh self-criticism, shaming, selfblaming, self-sabotaging, or destructive habits that rob them of fulfilment.

Capacity to adapt and learn

5

Strong self-leadership provides the foundation for openness to learning. Active self-leaders invest in lifelong learning. Self-awareness is a core component of self-leadership, ensuring an appreciation of strengths, values, preferences, and talents. Self-leaders welcome opportunities to learn and grow, and see mistakes and failures as opportunities for learning. Self-leaders are not hijacked by their egos; instead they bring

Determined by your values

Your values are non-negotiable; they are an important part of who you are and how you navigate the world. Strong self-leadership is when you are clear about what you value, and so your values, intentions, behaviours, and actions are in harmony. Living up to everyone’s expectations can create internal conflict as others’ values and expectations are not always going to align with our own.

Self-leadership is a skill set that needs to be continually developed. Building self-leadership helps us fulfil our potential and make a positive impact on others around us. It leads to greater organisational success through empowering people to regain control of their direction and goals, and ensures that their best selves show up on the job.

Poor self-leadership has a detrimental impact on our brain functioning, cognitive and psychological agility, relationships, career, and wellbeing

Michelle Bihary is a people leadership and workplace resilience expert