Gallagher in Canada is seeing some interesting premium trends in liability and commercial auto lines, now that pandemic restrictions are virtually non-existent. Businesses such as restaurants were shuttered or faced restrictions throughout the peak parts of the pandemic, meaning that…
Canada’s ongoing hard market in cyber has seen most insurers capping their coverage at somewhere between $3-million and $5-million, experts observed in a Gallagher Talks session. “We’re seeing exclusions for known [software] vulnerabilities [and] capacity restrictions as well,” said…
Ransomware is out, intellectual property data exfiltration is in. At least, that may be the bigger concern for breached companies these days, cyber experts warned in a Gallagher Talks presentation. Organizations are less likely to pay a ransom when their…
Insurers’ low-risk policyholders may still experience premium increases amid the hard market, but clients can take mitigating steps, said Ilan Serman, regional president of Ontario at Gallagher during yesterday’s Gallagher Talks session, Anatomy of the Canadian Insurance Market. “[I had]…
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…
Canada’s P&C insurance market remains vibrant but unpredictable, although there are signs of stabilization, a Gallagher executive said during an industry webinar Monday. A variety of push-and-pull factors related to underwriting profits, reinsurance rates, interest rates and claims inflation, labour…
Brokers and insurers may see some stabilization in the market in 2022. “We saw tremendous rate pressure, high operating ratios, and low ROIs in 2019 and 2020,” said Kevin Neiles, president, Western Canada and chief markets officer at Gallagher, during…
Brokers during the COVID-19 pandemic can expect to see carriers tighten up policy wordings to reduce ambiguity about pandemic cover, but that might cause delays in quota share subscription business as insurers ponder the precise wordings they want to use,…
“We’ve always done it this way” are six dangerous words in the construction world, and equally dangerous for those trying to assess or procure adequate insurance for construction projects. “Doing what we’ve always done rarely is OK when we’re facing…