Canadian Underwriter

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economy

News Insurance

Canada’s hardest-hit commercial lines — and a reason for optimism

February 18, 2021 by David Gambrill

Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report

News Insurance

Bank of Canada keeps key rate at 0.25 per cent, warns of economic decline in 2021

January 20, 2021 Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in

News Insurance

Investors look with optimism to ‘year of the vaccine’, expect major growth in 2021

December 23, 2020 Ross Marowits - THE CANADIAN PRESS

TORONTO – On Jan. 1, investors celebrating Bay Street’s best returns since the global financial crisis couldn’t have known what kind of year they were about to face. The year on stock exchanges was marked by swift and frequent changes

News Insurance

What’s keeping insurance CEOs up at night

December 15, 2020 by Adam Malik

About 10 months into the global COVID-19 pandemic, insurance leaders are less confident about growing their business and are increasingly concerned about the cratering economy, an insurance industry observer told a recent virtual conference. Even so, they’re showing more confidence

News Insurance

Facing a perfect storm of events, insurers brace for a ‘turbulent future’

July 21, 2020 by Adam Malik

With natural catastrophes starting to hit, the economy in rough shape, and the courts poised to weigh in on potential business interruption exposures, insurance companies are buckling in for a rough ride ahead, a recent report warns. Natural catastrophe (NatCat)

News BrokersCatastrophesClaimsCommercial LinesEarnings / RatingsEmploymentInsuranceMarkets / CoveragesReinsuranceRisk

CU Webinar: Industry execs to discuss impact of economic recession on Canada’s P&C industry

June 12, 2020 by David Gambrill

Way back in 2020 Q1, before the world turned upside down, the Canadian property and casualty insurance results were on the rebound from a difficult prior year. But on Mar. 11, 2020, the World Health Organization declared the novel coronavirus

News BrokersInsurance

Economic risks of returning to normal too quickly

April 22, 2020 by Adam Malik

Returning to some sort of normalcy is still some time away, according to one economist. And rushing to do so would likely be worse than waiting. It’s best, experts argue, to wait for public health officials to give the green

News BrokersInsurance

How insurance will be hurt by a lagging economy

April 20, 2020 by Adam Malik

The Canadian property and casualty insurance industry is okay — for now. But the longer the global COVID-19 pandemic drags on, the greater the risk that the economic fallout and financial instability will impact the industry’s financial position, warns MSA Research

News BrokersCommercial LinesInsuranceMarkets / Coverages

Should the hard market run its course through COVID-19?

April 17, 2020 by Jason Contant

As the economic fallout from the COVID-19 pandemic continues during a hard market cycle, the solution to consumers’ woes may not be as simple as providing premium relief, one Quebec broker says. “We’re not seeing premium relief from insurers to

News EmploymentRisk

Economic downturn from COVID-19 will be sharpest on record, Bank of Canada warns

April 15, 2020 The Canadian Press

OTTAWA – The Bank of Canada is warning that the downturn tied to COVID-19 will be the worst on record and that the economic recovery will depend on the effectiveness of current measures to bring the pandemic under control. The

News Earnings / RatingsRisk

Head of RBC says not to expect quick economic recovery from COVID-19

April 8, 2020 The Canadian Press

TORONTO – The head of the Royal Bank of Canada is warning the economic recovery from the COVID-19 pandemic will likely be slower and more uneven than originally thought. CEO Dave McKay said Wednesday that the depths of the challenge

News Earnings / RatingsEmploymentInsurance

How Canada’s P&C industry will weather the economic storm from COVID-19

April 1, 2020 by Jason Contant

Canada’s P&C insurance industry will likely not experience significant underwriting losses overall, but financial volatility due to COVID-19 will affect investment portfolios in the short-term, global credit ratings firm DBRS Morningstar said in a new report. “We consider the coronavirus