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Why the hard market may be here to stay
November 15, 2022 by Alyssa DiSabatinoDespite 17 quarters of rate increases, insurers return on equity (ROE) is still below target, and these hard market conditions may not be going anywhere for awhile, a Gallagher executive said during an industry webinar. Broker’s clients may be able…
Addressing supply issues not substitute for rate hikes, says Bank of Canada official
November 2, 2022 by The Canadian PressOTTAWA – Bank of Canada senior deputy governor Carolyn Rogers says addressing supply problems could help ease inflationary pressures but such policies wouldn’t substitute the need for higher interest rates. Rogers and Bank of Canada governor Tiff Macklem appeared before…
Bank of Canada raises interest rate by half percentage point, says more hikes to come
October 26, 2022 by The Canadian PressOTTAWA – The Bank of Canada hiked its key interest rate by half of a percentage point Wednesday and said rates will need to rise further to clamp down on decades-high inflation. Since March, the central bank has raised its…
Canada’s hotter-than-expected inflation reading sets stage for another rate hike
October 19, 2022 by Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Canada’s latest reading on inflation came in hotter than expected as the cost of groceries continued to climb at the fastest pace in decades, setting the stage for another sizeable interest rate hike next week. In its latest…
How de-globalization will generate $33 billion in commercial premiums
September 9, 2022 by David GambrillCountries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial…
Are brokers really ‘quiet-quitting’ if they are doing what they are paid to do?
September 1, 2022 by Jason ContantHR experts question whether the new workplace trend of ‘quiet quitting’ – only doing as much work as required (no more, no less) in an attempt to restore work-life balance and prevent burnout – is aptly named and reflective of…
Canadian economic growth lags expectations in Q2; July estimate points to contraction
August 31, 2022 by The Canadian PressOTTAWA – Economists expect the Bank of Canada to move forward with another aggressive interest rate hike next week after the release of data showing the economy remained in relatively good shape during the second quarter of the year. The…
Higher gas, auto sales boosted retail spending in June, Statistics Canada says
August 19, 2022 by The Canadian PressOTTAWA – Canadian retail sales increased 1.1 per cent to $63.1 billion in June, boosted by higher sales at gasoline stations and motor vehicle and parts dealers, Statistics Canada said Friday. However, the agency said its preliminary estimate for July…
Why Deloitte doesn’t anticipate a soft market ‘for the next few years’
August 15, 2022 by David GambrillCanada’s commercial P&C insurance market may not soften “for the next few years,” said a report on the industry published by Deloitte. “While there may be products where the market becomes more competitive on new business with good claims experience,…
How China-Taiwan tensions are affecting Canada’s supply chain
August 15, 2022 by Jason ContantAlthough there has been some easing in supply chain issues around the world, other disruptions are coming into play, a marine expert from Allianz Global Corporate & Specialty (AGCS) told Canadian Underwriter in an interview. One major disruption is escalating…
Former Supreme Court judge to head Hockey Canada review
August 8, 2022 by The Canadian PressFormer Supreme Court of Canada judge Thomas Cromwell will lead an independent review of Hockey Canada’s governance amid calls for a change of leadership of the governing body for its handling of recent allegations of sexual assault against players. Hockey…
Canada’s inflation rate climbed to 8.1% in June as gas prices soared
July 20, 2022 by The Canadian PressOTTAWA – Canada’s annual inflation rate rose to 8.1 per cent in June, boosted by soaring gas prices, which rose more than 50 per cent compared with a year ago, Statistics Canada said Wednesday. The June inflation rate was up…