Canadian Underwriter

Keyword
hard market

News Insurance

What brokers and carriers want of each other in the hard market

December 3, 2019 by Jason Contant

It would appear that brokers and carriers want each other to “take on a little bit more,” in this hardening market, attendees to Insurance Bureau of Canada’s first-ever Commercial Insurance Symposium heard last week. Carriers want assistance in general underwriting,

News Brokers

Industry execs see no immediate end to the hard market

November 26, 2019 by Greg Meckbach

Don’t expect the pressure on prices to ease any time soon, brokers learned Monday at the Top Broker Summit in Toronto. “Unfortunately for customers I think it’s got a long run,” Carol Jardine, president of Canadian property and casualty Operations

News InsuranceMarkets / Coverages

Will hard market conditions persist beyond the end of next year?

November 21, 2019 by Greg Meckbach

With insurers’ returns on equity lower than normal, it’s anyone’s guess how much longer your clients are going to see price increases. “Through 2020 we will see rate increases,” said Jim Auden, Chicago-based managing director of North American Insurance at

News Insurance

Intact CEO says odds of upsetting current hard market momentum are “fairly small”

November 7, 2019 by Greg Meckbach

With the Canadian industry experiencing its lowest return on equity in 17 years, Intact’s senior leadership is not foreseeing a soft market in the short term. “To find similar [hard market] conditions, you have to go back to 2002-03,” Charles

News BrokersEarnings / RatingsInsurance

You think the auto market is bad? Check out personal property…

October 10, 2019 by Jason Contant

The hard market is showing no signs of abating, with all provinces posting premium rate increases in personal lines in the latest quarter, according to Applied Systems’ most recent rating index. Personal property premiums increased on average by 13.6% compared

News InsuranceReinsurance

How reinsurers benefit from the market turn

October 9, 2019 by Jason Contant

With primary insurance companies seeking higher rates since the beginning of the year, proportional reinsurance programs are benefiting directly from these rate improvements, Joseph El-Sayegh, president and CEO of SCOR Canada Reinsurance Company, told Canadian Underwriter Wednesday. In proportional reinsurance,

Feature Brokers

Re-capturing your client’s attention

October 4, 2019 Jeff Buckstein, Freelance Writer

With premiums rising and coverage shrinking, clients have wandering eyes. How do you keep your clients loyal to you when they are exploring other options?

News InsuranceRisk

Why now is the time to shine for risk managers

September 24, 2019 by Adam Malik

Facing increasingly difficult market conditions means now’s the time risk managers can prove their true worth, one expert told a recent panel. Steve Pottle, director of risk management at Thompson Rivers University in Kamloops, B.C., said that as renewal costs

News Insurance

This is what’s putting the industry ‘at a tipping point’

September 20, 2019 by Adam Malik

Technology has been great for the insurance industry. But it’s also been creating problems, specifically creating a difficult market cycle. And it’s not the only reason why one panellist at the recent RIMS Canada Conference said the industry is “at

News BrokersInsuranceMarkets / CoveragesRisk

What’s at the heart of today’s hardening market cycle

August 1, 2019 by Jason Contant

The origin of today’s hardened market cycle is a natural evolution of a very long soft market cycle, a senior risk manager told Canadian Underwriter recently. “I really believe that we had a soft market that lasted too long,” said

News Insurance

Hard market could continue beyond 2020: Insurer

July 31, 2019 by Greg Meckbach

Commercial clients hoping for some relief from price increases could be in for a disappointment. “Even with the increases that we have seen in the last two years, many lines of business are still not at acceptable pricing,” Albert Benmichol,

News InsuranceMarkets / CoveragesRisk

How the hard market affects these risk managers

July 24, 2019 by Jason Contant

The hardening market is even affecting risk management in post-secondary institutions. One risk manager in Calgary said the challenges he is seeing are less about tightening of conditions in an insurance contract than underwriting unique exposures. The post-secondary environment has