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…
In an age of non-stop brokerage-to-brokerage M&A, Arthur J. Gallagher & Co. has taken a different approach with its latest acquisition. Rolling Meadows, Ill.-based Gallagher today announced acquisition of Toronto-based Four Corners Group Inc., an executive search firm operating throughout…
Clients have a tough choice to make when they’re hit with a ransomware attack — to pay or not to pay? “If you decided not to pay the ransom for whatever reason, and that hacker ultimately discloses that information,…
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…
Despite a big increase in road injuries and fatalities following the switch to Daylight Savings Time (DST), 40% of Canadians are unaware of the risks on the road the day after DST begins, according to a new survey commissioned by…
Large Canadian brokerage Westland Insurance Group Ltd. now has a coast-to-coast presence with its acquisition of Storm Insurance Group, which has offices in Nova Scotia and Quebec. The deal, which closed Wednesday, is one of three acquisitions closed or announced…
Concerns over the risk of COVID-19 transmission could accelerate the changes that technology has been bringing to financial transactions, including contactless payment options, a commercial broker suggests. “Financial services are changing very quickly,” said Mark Morency, senior vice president and…
Specific industry risk can play a major role in how much capital an insurer is willing to put forward for commercial surety bonds, a speaker said during a recent webinar. Industry risk is a “unique” underwriting consideration, Rob Dempsey, senior…
Lawsuits from employees alleging harassment or discrimination is one reason for significant price increases in directors’ and officers’ liability rates. In Canada, commercial brokerage Gallagher is seeing an uptick in age and gender discrimination claims and workplace harassment claims under…
The global pandemic isn’t necessarily causing a large number of problems around insurance issues in the real estate sector, but it’s clogging up the pathway to making things better. “The way we’re thinking about real estate and insurance is that,…
If your clients are going to be hit with rate increases and major changes in terms and conditions to their directors’ and officers’ (D&O) liability policies, you might want to give them some advance warning. “We tend to prepare early…
Dave Partington, appointed in December as CEO of Gallagher Global Brokerage — Canada, explains how firming market conditions bring new opportunities for commercial brokers.