Keyword
hard market
Exiting the commercial hard market may be prolonged: Insurers
April 5, 2022 by David GambrillCanada’s P&C insurers are exposed to historically-high inflation rates, which may prolong the hard market in commercial lines, Canada’s association of home, auto and business warns. “On the commercial side, I think this inflation is either going to prolong the…
Top 3 concerns of Canadian brokers
March 21, 2022 by David GambrillCanada’s hard market continues to be the Number 1 concern of brokers right now, but with the end of many COVID restrictions, brokers are starting to worry more about the growth of direct-to-consumer distribution models. Market consolidation is slowly but…
Hospitality’s hard market pre-dates the pandemic
March 15, 2022 Jason ContantSlip-and-fall claims, sewer backup and a hard market pre-dating COVID-19 are among the reasons you may find it difficult to find coverage for clients in the hospitality sector, such as restaurants and bars. “A handful of insurance companies are still…
How inflation could prolong the hard market
February 25, 2022 by David GambrillInflation could prolong the hard market in Canada’s property and casualty lines, brokers caution. RMS Canada reports that inflation will hit 5% in 2022 before approaching 3% by the year’s end. “Persistent inflation is primarily due to supply constraints and…
Are we past the hard market peak?
February 17, 2022 by Alyssa DiSabatinoInsurance brokers want the hard market to end, and brokerage executives say we might be edging closer to the peak of it. Doug Morrow, CEO and managing partner at Excel Insurance Group, says we are “near” or “slightly past”…
When can insurers expect the hard market in personal property to go down?
January 28, 2022 by Alyssa DiSabatinoThe hard market in personal property won’t be going down anytime soon, said P&C experts in a Canadian Underwriter webinar on Jan. 25. “It’s going to be an interesting time in personal property over the next number of years, particularly looking…
Brokers adapting to pandemic, hard market adversity
November 8, 2021 Jeff BucksteinBrokers have adapted well to the unprecedented challenges posed by the worst global pandemic in more than a century, on top of a hard insurance market, according to the Trusted Advisor 2021 survey by Canadian Underwriter. Brokers are “a very…
Three reasons Fairfax predicts a continuing hard market
November 5, 2021 by Greg MeckbachAs carriers continue taking a good hard look at their risk appetites, price increases could continue well into 2022. “We expect market conditions to remain strong throughout 2021 and well into 2022,” said Peter Clarke, chief operating officer of Toronto-based…
Hard market conditions tough on client-broker perceptions
November 1, 2021 Jeff BucksteinHard markets are not only tough on the entire insurance industry, they can also disrupt the way brokers are perceived by their clients. Canadian Underwriter’s Trusted Advisor 2021 survey contained several responses that revealed low levels of satisfaction and the…
An expert’s guess on how long the D&O hard market will last
June 16, 2021 by Adam MalikWhile things may not get any worse in the directors and officers (D&O) liability market, it’ll still be about another 18 months until things start to turn for the better, an expert in the area predicted. “I don’t see it…
The Number 1 challenge facing Canada’s broker channel
May 11, 2021 by David GambrillOut of all the challenges facing the broker channel right now, the hard market is the biggest one of them of all, according Canadian Underwriter‘s 2021 National Broker Survey. Seventy-four per cent of Canadian P&C insurance brokers who responded to…
Broker strategies for making it through the hard market
May 11, 2021 by David GambrillBrokers are currently caught between a pandemic and a hard market, with several insurers predicting that Canada’s hard market cycle in property and casualty insurance will last at least one or two more years beyond the end of the pandemic.…