Christian Fournier, executive vice president and leader – property and casualty insurance, Beneva With inflation continuing to affect every citizen and organization, one could say 2024 will be the same as 2023. Consumers will be living on a tight personal…
Shawn DeSantis, president, CEO, Navacord It is clear 2024 will bring a new set of challenges, with several themes influencing the Canadian P&C insurance industry. The economic environment is evolving. Preparing our businesses and successfully managing through the implications of higher interest…
Aon expanded its worldwide property and casualty insurance market presence by today acquiring NFP — a leading middle market P&C broker, benefits consultant, wealth manager and retirement plan advisor. Aon will acquire NFP for an estimated $13.4 billion at closing.…
Joe D’Annunzio, president, BrokerLink Canada’s property and casualty insurance industry must be all about the customer in 2024. Many people are struggling to pay their bills due to inflation and they have tough choices to make. Customer service will become…
David Bowcott, co-leader, NFP Construction & Infrastructure Group As we enter 2024, signs exist the Canadian P&C insurance hard market is abating. But clients are nevertheless putting in place measures they hope will sustain them through future hardening. We are beginning…
In the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film, Rick Blaine,…
Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars…
With the federal government cracking down on short-term rentals, property and casualty insurance providers are urging clients who rent their properties short-term to contact them to verify whether or not they are covered for property damage or liability for third-party…
During the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on…
In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents…
Canadian brokerages aren’t taking full advantage of an opportunity to arrange premium financing for their clients, particularly for commercial policies covering broad-based risks. In Canada, only 15% of brokered premiums are financed. By comparison, the U.K. rate is 20%, and…
Current economic conditions have people stressed, and it’s showing up in personal auto claims, said Jesica Ryzynski, a claims specialist with Mitch Insurance. Minor at-fault accidents among insureds are taking place more frequently, she told CU, with many taking place…