Canadian Underwriter

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Gallagher Talks

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Two welcome commercial premium trends, post-pandemic

November 25, 2022 by Jason Contant

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

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News BrokersCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

Cyber insurers’ appetites are shifting. Here’s what to expect…

November 21, 2022 by Alyssa DiSabatino

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

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News BrokersClaimsInsurance

Organizations more willing to pay ransom for this type of data breach

November 18, 2022 by Alyssa DiSabatino

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

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How clients can get better rates during the hard market

November 16, 2022 by Alyssa DiSabatino

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]

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News AnnouncementsBrokersCatastrophesClaimsInsuranceMarkets / Coverages

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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News BrokersCatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Has Canada’s P&C hard market finally stabilized?

November 14, 2022 by Jason Contant

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

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News Insurance

Stability, finally? What insurers and brokers can look forward to in 2022

November 12, 2021 Brooke Smith

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

News Insurance

What brokers can expect to see in the quota share subscription business

September 21, 2020 by Adam Malik

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,

News Insurance

Why the status quo can be dangerous in the construction insurance world

September 9, 2020 by Jason Contant

“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