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What the recovery from commercial hard market could look like

January 26, 2021 by Greg Meckbach

Brokers could see a “K-shaped” recovery from the hard market in commercial lines because some sectors have been hit harder by the COVID-19 pandemic than others, panelists observed in a webinar hosted Jan. 25 by Canadian Underwriter. Some commercial lines

News CatastrophesClaimsClaims CanadaCommercial LinesEarnings / RatingsInsuranceMarkets / Coverages

Six reasons why commercial prices will probably continue rising

January 25, 2021 by Greg Meckbach

Don’t expect a soft market for your commercial clients any time soon, executives with The Travelers Companies Inc. warn. Rates on renewal for business insurance were up 8.4% while rates in bond and specialty insurance increased by 12%, Travelers said

News Commercial LinesEarnings / RatingsInsuranceMergers and Aqcuisitions

Who is funding many of these insurance mergers

December 4, 2020 by Greg Meckbach

The industry continues to consolidate and pension funds are one major source of capital for insurers, a Montreal-based merger and acquisition expert observes. “One or two notable [carrier M&A] transactions per year has slowly transformed the Canadian landscape, including the

News Earnings / RatingsInsurance

P&C industry’s Q3 results show signs of recovery

November 30, 2020 by David Gambrill

If the Canadian property and casualty insurance industry’s second quarter results — a financial temperature check at the height of the pandemic — looked a bit sickly this year, the third quarter results show signs of overall recovery, data from

Feature Earnings / Ratings

Still standing

October 22, 2020 David Gambrill, Editor in Chief

The P&C industry’s second-quarter earnings reflect the impact of COVID-19. Overall, they tell a story of financial resilience

News Earnings / RatingsInsurance

The good news and bad news about Ontario auto

September 24, 2020 by Greg Meckbach

Ontario auto insurance rates were 3.7% lower in the second quarter of 2020, than in the same period in 2019, but were still higher than in the three months ending March 30, 2020, data released Tuesday by LowestRates.ca suggests. “COVID

News ClaimsCommercial LinesEarnings / RatingsInsurance

Winners and losers of the COVID-19 quarter

September 24, 2020 by David Gambrill

Although COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one

News Earnings / RatingsInsurance

Pandemic relief: Keeping the size of auto insurance discounts in perspective

September 14, 2020 by Greg Meckbach

Sometimes it’s not just about the size of the pandemic auto insurance discount, but the fact that it was a discount and not a rate hike that makes all the difference to a consumer. For example, a 25% auto insurance

News ClaimsClaims CanadaEarnings / RatingsInsuranceLegislation / RegulationMarkets / Coverages

How bad Canada’s auto loss ratios are getting

September 11, 2020 by Greg Meckbach

The Canadian industry’s loss ratio in auto liability has deteriorated for the fourth year in a row, A.M. Best Company Inc. has reported. Meanwhile, the loss ratio in “auto personal accident” deteriorated nearly 10 points. It increased from 70.4% in

News Earnings / RatingsInsurance

How A.M. Best predicts pandemic could affect the Canadian P&C industry

September 8, 2020 by Greg Meckbach

An increase of residential cooking fires and business closures arising from the pandemic are among the trends affecting the Canadian property and casualty insurance industry on the radar of A.M. Best Company Inc. Overall, personal property losses are lower so

News Earnings / RatingsInsuranceReinsurance

Reinsurers discuss the hard market, new bricks-and-mortar locations

August 18, 2020 by Jason Contant

Given the persisting novel coronavirus infections and the economic fallout from the pandemic, it seems unlikely any reinsurers would want to set up new physical locations this year, but that’s exactly what may happen, speakers said recently during an A.M.

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Why A.M. Best sees the global reinsurance market as ‘stable’

August 13, 2020 by Jason Contant

Months into the COVID-19 pandemic, reinsurance industry observers are seeing a mixed forecast ahead and it’s too early to tell how the pandemic will affect rating actions, according to a recent A.M. Best webinar. “Obviously, the situation has gotten complicated