Christmas wish list for brokers

Santa Claus is due to arrive soon, and here are some things you might see on the wish lists of brokers as they lay out the milk and cookies in anticipation of St. Nick.

Christmas wish list for brokers

With Christmas just around the corner, Canada’s brokers are putting out the cookies and milk for Santa – and attaching their Christmas wish list as well.

Insurance Business contacted a number of brokers to see what they would like to see in the New Year.

The wishes didn’t have to be realistic – in fact some conceded that they probably weren’t – and names have been expunged to protect both the naughty and nice.

That said, here are some things brokers are wishing for in the New Year:

•    “Here is one thought:  A combined product for D&O, E&O, CGL and Cyber. There is tremendous overlap in exposures and best practices would say these should all be with the same market anyway. If a carrier could come up with a combined product that plugs all the holes and provides comprehensive coverage that would reduce broker E&O significantly.”

•    “Insurers investing in underwriting expertise and giving it some authority, rather than second-guessing us on the client relationship.”

•    “I would like to see the same advancements in real time technology for personal lines insurance carried over into the commercial lines of business. “

•    “Consistent enthusiasm on a given risk from marketing, renewal underwriting and new business underwriting.”

•    “A revival of meaningful customization to solve problems for clients. (Remember the days when we could manuscript endorsements with underwriters: “It is hereby understood and agreed that....?”)

•    “Less government interference in the rating of auto insurance, in Ontario at least.”

•    “A voluntary withdrawal by the banks of online insurance marketing that contravenes the Bank Act's intended separation between insurance and the granting of credit.”

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