WELCOME
CHANGING LANDSCAPE FOR INSURANCE
6
feature
MYLES KUHARSKI
NAVIGATING THE HARD MARKET
CONTENTS
5
LETTER FROM THE PRESIDENT & CEO
6 NAVIGATING THE HARD MARKET
Myles Kuharski
9 THE NEW ECONOMIC MODEL 2.0:
Amy Jo Martin
12 READ MORE BOOKS
Neil Pasricha
14 HOW WE DO PERFORMANCE REVIEWS
Ari Meisel
16 ATTRACTING YOUR IDEAL CUSTOMERS
Joe Polish
20 HOW DO YOU BALANCE YOUR PERSONAL AND
PROFESSIONAL SOCIAL MEDIA PRESENCE?
22 BRAND ENDEARMENT:
Return the High-Five
24 PERSONALITY TESTS
27 WHAT EVERY PARENT SHOULD KNOW ABOUT
LIFE INSURANCE
Chad Canfield
28 WINTER DRIVING SURVIVAL KIT
30 #GILLONS COMMUNITY
The year 2019 has been a challenging one for insurance consumers across Canada
with insurance pricing on the rise. Many clients, like yourself, are frustrated with
paying more and not understanding why.
Climate change was a hot topic in the recent Canadian election, and regardless
of whether this has impacted you directly or not, it is partly responsible for your
insurance premiums rising. From a bigger picture perspective, the cost of settling
property losses and the increased frequency of catastrophic losses is on the rise.
Water claims of any type have replaced fire losses as the most destructive type of
property loss. Some will argue this has nothing to do with climate change, but the
reality is that these types of losses are becoming more frequent and more severe.
Along with the increase in property losses is the changing legal landscape in
Canada. As a society, Canadians have become more litigious, and this has resulted
in a higher frequency and severity of liability claims. Liability damage awards
and the cost of defending these claims are rising. These claims are also becoming
more complex in nature, which also adds to the time and resultant cost to defend.
Cyber liability claims further compound the increase in losses. Many of you may
have been a victim of a credit card breach, and some of you may have experienced
a breach in your business setting. Cyber liability claims have risen dramatically
in the last three years. With online transactions, keeping records and data in
cloud-based systems, and the sophistication of hackers, it is anticipated that these
claims will continue to grow at an exponential rate.
If we switch over to the auto side of our business, distracted driving (mainly due to
the use of smartphones) is out of control. Think of how many times you’ve pulled
up to an intersection and seen drivers looking down at their phone. Or you’ve
followed a vehicle on the highway that is meandering down the road. Distracted
driving losses are now the number one cause of automobile losses in Canada. And
with vehicles being more sophisticated with high-valued parts, the damage to a
vehicle from a minor accident today costs more to repair than it did a few years
ago. The cost of bodily injury claims associated with auto claims are also on the
rise as people with severe injuries live longer. Future care costs for medical and
nonmedical needs for items such as medications, rehabilitation needs, personal
care services, transportation and home modifications continue to add up.
What can we do at Gillons to help you? As the insurance landscape continues
to become more complex, our clients are increasingly reaching out to us with
questions around emerging risk issues and how they can do more on the risk
management side to prevent losses. As a consumer, regardless of how you select
your insurance provider, we encourage you to think of insurance as a product
with a promise of service, not a commodity with a price attached to it. A good
insurance product should include tailored risk management and claims services,
so we encourage you not to lose sight of those items.
The insurance industry is getting more complex as society and the climate
becomes more complex. For our existing client base, I encourage you to reach
out to your representative if you have questions or concerns. For new clients, we
encourage you to contact us, and we will be happy to discuss our unique risk
assessment approach with you.
In closing, we know this has been a challenging year for our clients. We truly
appreciate your business and look forward to working with you into the future.
Myron Romaniuk, President & CEO
Gillons Insurance Brokers Ltd.
WWW.GILLONS.CA