Canadian Underwriter

Keyword
hard market


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News BrokersClaimsCommercial LinesInsuranceRiskTechnology

How to make a profit on cyber coverage

March 16, 2023 Jason Contant

How does the industry make cyber insurance a viable and profitable line of business going forward? “I would say cyber is a viable and profitable business line,” said Neal Jardine, global cyber risk intelligence and claims director with Boxx Insurance. “I

Corporate boardroom in chaos
News BrokersCommercial LinesInsuranceMarkets / Coverages

What might cause the softening D&O market to stall?

March 8, 2023 Philip Porado

Hard markets may come and go, but they seemed to stick around longer for Directors and Officers (D&O) coverage than for some other P&C industry segments. As of last fall, though, D&O availability and affordability have been improving. After several

Businessman places wooden block on top of a tower of blocks which have 2023 through to 2020 written on them. hard market stabilized
News BrokersInsuranceMarkets / Coverages

Will the P&C hard market stabilize or soften in 2023?

January 20, 2023 by Alyssa DiSabatino

The P&C hard market isn’t going to soften anytime soon, but it will stabilize, suggested Phil Cook, P&C consultant and chairman of Omega Insurance Holdings Inc. at the Insurance Institute of Canada’s Industry Trends & Predictions: 2023 webinar.  Why? The industry’s

Shot of a stressed businesswoman with headache in the office.
News BrokersCatastrophesClaimsClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesReinsuranceRisk

Hard market “fatigue” setting in, P&C industry survey suggests

January 12, 2023 by David Gambrill

Hard market fatigue is starting to become an issue for Canada’s property and casualty insurance industry, and several industry professionals are worried ongoing capacity and pricing issues could invite government intervention down the road. “We will continue to have many

the perfect wave (black and white)
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“Perfect storm”: How Canada’s P&C insurance industry feels about 2023

January 11, 2023 by David Gambrill

Canada’s property and casualty insurance industry may not be facing its “toughest” year ever in 2023, but more than 89% of industry professionals agree the multitude of issues facing the industry at once is creating a “perfect storm.” “Every year

A businessman holds a white, 2 dimensional umbrella over a scale. A bag of money and wooden blocks spelling "risk" sit on either side of the scale
News BrokersInsuranceMarkets / CoveragesProducts

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]

Businessperson holding a pen on an interactive bar graph, showing upwardly trending results year over year
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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What insurers are doing to improve recruiting

August 23, 2022 Philip Porado

It’s not your imagination, COVID-19 really did throw a wrench into the insurance industry’s ability to hire and retain talent, says a new Deloitte report on the state of Canada’s P&C industry. It found industry demand for people with the

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News ClaimsInsuranceMarkets / CoveragesRisk

Why extended hard market should be easier to explain to consumers

August 11, 2022 by David Gambrill

Consumers should be able to relate to inflation’s impact on goods and services — and hence, the impact on insurers’ claims costs — making it easier for brokers to explain the continuation of the P&C industry’s hard market cycle after

Family home with car in the driveway
News Insurance

Is the personal lines hard market abating?

August 4, 2022 by Jason Contant

Personal lines in Canada’s property and casualty insurance industry still appear to be in the grip of a hard market cycle, with both personal auto and property premium rates generally showing high, single-digit rate increases. On average, personal auto quoted

Airliner landing in a vacation paradise
News BrokersInsuranceMarkets / Coverages

More people are flying – is that good for travel insurance profits?

July 13, 2022 by Alyssa DiSabatino

Business and leisure travel is on a post-pandemic rise, but major flight delays and cancellations will have impacts on travel insurers’ credit profiles, said a commentary from credit-rating agency DBRS Morningstar. Even though airplane travel remains below 2019 levels, staff

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News BrokersEarnings / RatingsInsurance

Despite “aggressive growth goals,” insurers cautioned to keep their powder dry

April 25, 2022 by David Gambrill

Although the industry achieved a highwater mark financial result in 2021, industry executives are cautioning insurers to keep their powder dry and not reduce pricing drastically to grow market share. “I just look through the windscreen, all the things coming