Executives Say It’s More Challenging to be a Leader Today

Leading a business is only getting harder, recent research found. In a Robert Half Management Resources survey, 87 per cent of chief financial officers (CFOs) said it is more challenging to be a company leader today than it was five years ago.

But survey results also found many managers enjoy support from their teams. Seventy-nine per cent of workers surveyed expressed confidence in their leaders, while only 6 per cent do not feel confident at all.

Portrait of a young attractive business woman.

Provinces Where Leadership Challenges Have Risen Most
Below are the provinces where the difficulties of being in management have intensified the most over the past five years, based on the percentages of executives who said it is significantly or somewhat more challenging to be a company leader today.

  1. British Columbia (100 per cent)
  2. Alberta (98 per cent)
  3. Quebec (95 per cent)
  4. Manitoba (92 per cent)

Navigating the Changing Leadership Landscape
“Facing an ever-evolving corporate landscape, executives have to deal with the pressures of emerging trends that require them to continually reassess everything from technology and staffing challenges, to regulatory demands and compliance requirements,” said David King, Canadian president of Robert Half Management Resources. “Great leaders understand the fundamentals of their field, but also know that it is the ability to recognize new opportunities through innovation that will ultimately set their business apart.”

King reminds managers to look to their employees for support. “An engaged team is a committed team, and executives who address challenges and opportunities with their employees build a foundation of trust, and shared goals for business growth.”

Robert Half Management Resources details five challenges facing leaders today and the attributes needed to address them:

1. Taking a ‘big picture’ view. As CFOs whose work outside of finance has expanded in recent years know well, executives are no longer tasked with just overseeing their department. They must draw on their strong business acumen, understanding how their unit’s decisions and performance affect the broader organization.

2. Overcoming staffing challenges. Building a skilled team in the face of candidate shortages and retention concerns requires special talents. Business leaders today are tasked with fostering relationships with recruiting sources and developing an effective staffing management strategy, blending full-time personnel with specialized professionals who can be brought in on-demand.

3. Maintaining an edge over diverse competitors. Firms face threats not just from traditional competitors, but also increasingly from organizations disrupting the marketplace with new business models. Organizations need leaders who can anticipate changes in the competitive landscape and inspire innovation to stay on top.

4. Remaining compliant with evolving mandates. Regulatory pressures continue to mount for many industries and companies. Executives today need to be experts on the mandates affecting their business and understand how compliance is more than meeting a set of requirements and can instead help the firm prosper.

5. Keeping up with technology. As history has repeatedly shown, technology can change everything at a moment’s notice. The onus is on business leaders to monitor the technology trends affecting their organizations and positions and adapt accordingly.

Economical welcomes Paul MacDonald as Executive Vice-President of Personal Insurance

 Economical Insurance today announced another significant addition to its executive team. Paul MacDonald will be joining the company in the new role of Executive Vice-President (EVP) of Personal Insurance effective early January 2018.

“We are pleased to welcome Paul to the executive team as we deepen our capabilities to deliver the most relevant products and experience to our customers and brokers,” said Rowan Saunders, President and CEO of Economical. “Paul brings extensive industry expertise in leading underwriting and claims functions, product and distribution strategy, and business transformation and integration — all critical elements as we drive toward our vision to become one of Canada’s top property and casualty insurers.”

“Paul will have P&L accountability for broker-distributed personal insurance and support a renewed focus in personal lines across our distribution channels. He will work in close partnership with Tom Reikman, Chief Distribution Officer, and Fabian Richenberger, EVP, Commercial Insurance. This is an exciting time as we continue our progress towards a new business platform and policy administration system for personal insurance, and an enhanced senior executive team,” added Saunders.

Prior to joining Economical, Mr. MacDonald was Senior Vice-President and Chief Claims Officer at RSA Canada. Before RSA, he was Vice-President, Canadian Operations for SGI CANADA, directing the company’s underwriting, broker services, business development, and regional claims operations. His experience also includes insurance consulting with PricewaterhouseCoopers and senior leadership positions with Aon Risk Services.

Mr. MacDonald has an MBA from Northwestern University/York University and undergraduate degrees in law (Dalhousie University) and arts (Queen’s University).

About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with more than $2.2 billion in annualized premium volume and more than $5.6 billion in assets as at September 30, 2017. Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Petsecure, Economical Financial, and Family Insurance Solutions.

SOURCE Economical Insurance

New Website Aims to Make Insurance Information Simple and Accessible for Canadians

A new website designed to help consumers become more aware of the range of insurance options available in Canada and to understand more about them was launched today.

Created by the Canadian Association of Financial Institutions in Insurance (CAFII), the website explains how more than a dozen types of insurance work including Mortgage Default Insurance and Life Insurance, as well as a wide range of Creditor’s Group and Travel Insurance products. These products include Mortgage Life Insurance, Mortgage Disability and Critical Illness Insurance, Job Loss Insurance, Payment Protection Insurance, Travel Medical Insurance, and Trip Cancellation and Interruption Insurance.

In addition, the website provides a number of helpful resources including a handy list of Frequently Asked Questions, and information on how consumers can make an enquiry or complaint to their CAFII-member insurance provider. It also includes Association and industry news.

According to Keith Martin, co-executive director of CAFII, the new website is the latest step in helping to fulfill the organization’s goal of making insurance simple and accessible for Canadians.

“Consumers benefit from having a wide choice of insurance products and distribution channels in Canada, but many are not familiar with them or how they work,” Mr. Martin said. “While our new website is still a work in progress, we hope that consumers will find it useful in helping them make more informed choices.”

About CAFII:
The Canadian Association of Financial Institutions in Insurance is a not-for-profit Association dedicated to the development of an open and flexible insurance marketplace. CAFII was established in 1997 to provide a voice for financial institutions involved in selling insurance through a variety of distribution methods. CAFII believes consumers are best served when they have meaningful choice in the purchase of insurance products and services.

SOURCE CAFII

CFIB and Northbridge Insurance partner to protect small businesses

The Canadian Federation of Independent Business (CFIB) is proud to announce that it has chosen Northbridge Insurance as its exclusive commercial insurance partner to help ensure its members get the right coverage to protect their businesses.

“Small business owners wear every hat when it comes to running their business,” said Dan Kelly, President at CFIB. “Northbridge Insurance understands our members don’t have a lot of time, so they’ve developed an insurance solution that’s fast and simple and recognizes the important role brokers play in assessing business owners’ unique needs.”

Through the partnership, CFIB members have exclusive access to an enhanced small business insurance solution from Northbridge Insurance that includes comprehensive property and liability coverage, plus cyber risk protection. Members also receive Legal Expense Insurance, covering up to $100,000 in legal costs, underwritten by DAS Canada.

In addition, CFIB members enjoy unlimited telephone access to Legal Assist services, which provide general legal advice for business questions ranging from product ideas to contract legalese and employment issues.

The partnership is unique in that it also supports the CFIB membership base: Northbridge has ensured that CFIB’s insurance broker members can easily offer the program to prospective customers.

“We’ve spent a lot of time connecting with small business owners to get a better understanding of their needs and the challenges they face,” said Ilda Dinis, Senior Vice President, Customer Innovation & Experience at Northbridge Insurance. “We’re excited to work with brokers to help ensure our customers get the right protection for their businesses.”

More details on the CFIB’s partnership program are available at cfib-fcei.ca/privilege-programs.

About the Canadian Federation of Independent Business

CFIB is Canada’s largest association of small and medium-sized businesses with 109,000 members across every sector and region. Visit us at cfib.ca.

About Northbridge Insurance

Northbridge Insurance is a leading Canadian commercial insurer. Working with our broker partners, we focus on understanding the needs of our customers and on creating solutions that make a difference to their success. Visit us at www.nbins.com to learn more.

About DAS Canada

DAS Canada is a full-service specialist in Legal Expense Insurance. We lead the Legal Expense Insurance market in Canada and are committed to creating access to justice for Canadians. DAS Canada is part of DAS Group, the global market leader in Legal Expense Insurance and a subsidiary of ERGO—the primary insurer of Munich Re Group. Visit us at www.das.ca to learn more.

SOURCE Canadian Federation of Independent Business (Toronto)

ILScorp: Same Passion. New Address

ILScorp: Same Passion. New Address

ILScorp’s New Location

It’s with great anticipation and pleasure to let you know that on December 01, 2017, we are relocating to a beautiful and spacious new location.

Our new address is:
Unit #104
1829 Beaufort Avenue
Comox, BC. Canada
V9M 1R9

However, our phone number remains the same at 1-800-403-2211.
Our primary email address is also still the same info@ilscorp.com

Since we first opened our doors in 1991,  our customers loyal business and support is one of the main reasons why we’ve grown so much over the years. We’ve been searching for the ideal location and are happy to tell everyone that we’ve finally found it!

As of November 30, 2017, we are no longer at our Ryan Road address. Feel free to contact us with any questions you may have concerning the new location on Beaufort Avenue or our services.

We look forward to working with you at our new address!

www.ilscorp.com

The Co-operators welcomes william.coop as its newest member

The Co-operators Group Limited is pleased to announce the addition of william.coop, a co-operative that supports daycares throughout Quebec, to its membership. The Co-operators now has 43 diverse member organizations representing virtually every region of the country and a variety of sectors.

william.coop has two types of co-operative members. More than 600 daycares are user members, which represent approximately 60 percent of all early childhood centres in the province; and ten regional daycare associations, which are supporting members. The co-operative secures beneficial commercial agreements for its members related to food, office supplies, furniture, educational materials and other products and services. It operates a web platform for group purchasing, negotiates conditions and pricing, and processes payments on behalf of its members.

“william.coop shares the same co-operative values that guide The Co-operators approach to business, and feels proud and delighted to join such a distinguished group of members,” said Martin Grenier, general manager, business relationships at william.coop.

As a co-operative, The Co-operators is owned and democratically controlled by members who use its products and services. The membership of The Co-operators consists of 43 organizations from across the country, representing the agriculture, finance, retail/consumer, service, health, and labour sectors of the Canadian economy. william.coop is the sixth member based in Quebec and the first that supports early childhood.

“We are very pleased to welcome our newest member, william.coop, which strengthens and brings a new perspective to our diverse membership,” said John Harvie, chairperson of the board of directors of The Co-operators. “william.coop shares our strong commitment to co-operative principles, and we look forward to working with its representatives as they participate and contribute to our democratic governance processes in the years ahead.”

About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $48 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products.

The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights’ Best 50 Corporate Citizens in Canada. For more information, visit www.cooperators.ca.

SOURCE The Co-operators

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