The Ontario Broker - June 2019 - 20

CLIMATE
CHANGES
BEST
PRACTICES
BY KEVIN O'HARE, EDUCATION SUPERVISOR
& INSTRUCTIONAL DESIGNER, IBAO

BROKERS NEED
TO GET THE
WORD OUT ON
CLIMATE CHANGE
AND THE IMPACTS
WEATHER IS
HAVING TO THEIR
CUSTOMERS

APRIL 2019

E

ducation about
weather and
climate issues is
more important
than ever. Brokers
take very good care of their
clients and that is evident in
the long term relationships
they have. But, brokers need
to get the word out on climate
change and the impacts
weather is having to their
customers, and to do that
they may have to update a few
processes.

renewing. Another change she
recommends that can have
instant positive impacts to
clients is to give a simple tip in
the next touch point about a
client's property. For example,
talk about how keeping
gutters clean, or how patching
cracks or leaky roofs can have
enormous payoffs in the event
of heavy rain. This enables
brokers to engage in a richer,
more valuable way with a client
who wouldn't otherwise know
to ask.

The practices of insurers are
changing, from scaling back
the availability of coverage to
making changes to deductibles.
Front line brokers need to get
ahead of the curve of climate in
a challenging market because
many often go with new
policies or renewals using the
same approach without first
looking into their markets for
any updates they might have.

Brokers need to be equipped
for this, so now, more than
ever, it is vital for brokers to
learn more about weather
patterns, flood plans,
earthquakes, overland water,
sewer backup, so they can go
into conversations informed
and prepared.

Karen Ritchie, Senior VP, Baird
MacGregor Insurance Brokers,
has researched and designed an
extremely valuable, and timely,
course on the impacts and
financial implications of major
disasters on the insurance
industry. It addresses the
education issues brokers face
informing their clients about
impacts from weather.
Karen advises there can be
huge advantages to updating
a few broker practices,
specifically to look at their
markets' products before

20

"Yes educate the client, but
as brokers we also have to
make sure that we are keeping
pace with our knowledge in
the changing landscape," says
Karen.
Not every policy can protect
against the devastation seen
in Ottawa and Muskoka
recently, but bringing up the
topic as regularly as possible
helps plant that seed in the
customer's mind, one they may
be afraid to ask about.
IBAO is hosting Karen's
webinar, Climate Change
- How to Sell Catastrophe
Coverage, on July 16th.

WWW.IBAO.ORG
http://WWW.IBAO.ORG
The Ontario Broker - June 2019

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