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Why the hard market may be here to stay

November 15, 2022 by Alyssa DiSabatino

Despite 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

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Addressing supply issues not substitute for rate hikes, says Bank of Canada official

November 2, 2022 by The Canadian Press

OTTAWA – 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 governor Tiff Macklem holding a press conference
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Bank of Canada raises interest rate by half percentage point, says more hikes to come

October 26, 2022 by The Canadian Press

OTTAWA – 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

Trying to rein in inflation
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Canada’s hotter-than-expected inflation reading sets stage for another rate hike

October 19, 2022 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – 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

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How de-globalization will generate $33 billion in commercial premiums

September 9, 2022 by David Gambrill

Countries 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

Man holding a block with 'quiet quitting' written on it
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Are brokers really ‘quiet-quitting’ if they are doing what they are paid to do?

September 1, 2022 by Jason Contant

HR 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

Concept of economic growth in Canada
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Canadian economic growth lags expectations in Q2; July estimate points to contraction

August 31, 2022 by The Canadian Press

OTTAWA – 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

Gas prices displayed in Vancouver in May
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Higher gas, auto sales boosted retail spending in June, Statistics Canada says 

August 19, 2022 by The Canadian Press

OTTAWA – 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

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Why Deloitte doesn’t anticipate a soft market ‘for the next few years’

August 15, 2022 by David Gambrill

Canada’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,

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How China-Taiwan tensions are affecting Canada’s supply chain

August 15, 2022 by Jason Contant

Although 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

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Former Supreme Court judge to head Hockey Canada review

August 8, 2022 by The Canadian Press

Former 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

Gas prices in Carleton Place, Ont. on May 17, 2022
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Canada’s inflation rate climbed to 8.1% in June as gas prices soared

July 20, 2022 by The Canadian Press

OTTAWA – 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