Canadian Underwriter


Concept of decreasing inflation
News InsuranceMarkets / Coverages

‘Very pleasant surprise’: Canada’s inflation rate tumbled to 2.9% in January

February 20, 2024 Nojoud Al Mallees – The Canadian Press

OTTAWA – Canada’s inflation rate fell more than expected last month as price growth moderated across the economy, including outright price declines for gasoline, airfares and clothing. Statistics Canada reported Tuesday the annual inflation rate tumbled to 2.9 per cent

Magnifying glass looking at interest rates
News InsuranceMarkets / Coverages

Bank of Canada holds key interest rate, signals shift toward rate cut talks

January 25, 2024 Nojoud Al Mallees – The Canadian Press

The Bank of Canada is turning its attention to when it may be able to start cutting interest rates, governor Tiff Macklem said Wednesday as he announced the central bank’s decision to hold its key rate at five per cent.

Person entering data into system
News BrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProductsTechnology

Why most of your commercial clients are underinsured by at least 30%

December 12, 2023 by Jason Contant

Accurate valuation and occupancy data points remain top challenges for commercial broker submissions, according to Greg McCutcheon, president of Canada’s largest property data provider, Opta Information Intelligence.  In this inflationary environment, keeping up with valuations and ensuring commercial property brokers

Magnifying glass with documents
News CatastrophesClaimsClimate ChangeEarnings / RatingsInsuranceLegislation / Regulation

Why you can expect more insurance regulation next year

December 11, 2023 by David Gambrill

As the hard market proceeds apace in the Canadian P&C insurance industry, a projected economic slowdown in 2024 could invite more insurance regulation, since Canadians will find it harder to pay their insurance bills, a ratings agency warned. “While growing

The Bank of Canada building in Ottawa
News Earnings / RatingsInsurance

Bank of Canada holds its key interest rate steady at 5% in final decision of 2023

December 7, 2023 The Canadian Press

OTTAWA – The Bank of Canada continued to hold its key interest rate steady at five per cent today, encouraged by evidence that higher rates are helping bring inflation down. In a news release, the central bank says higher borrowing

Declining interest rates
News Earnings / RatingsInsuranceMarkets / Coverages

Fighting inflation half-heartedly would be ‘huge mistake,’ Bank of Canada warns

November 22, 2023 Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – Bank of Canada Governor Tiff Macklem warns fighting inflation half-heartedly and living with its consequences would be a huge mistake. The governor acknowledged during a speech Wednesday that interest rates may already be high enough to bring inflation

surreal enigmatic picture on canvas
News BrokersClaimsEarnings / RatingsInsuranceMarkets / CoveragesRisk

Why P&C execs predict 2024 will look similar to 2023

October 23, 2023 by David Gambrill

Thanks to economic instability due to inflation and geopolitical conflict, Canadian P&C insurers predict 2024 could look much like 2023, in terms of lingering hard market conditions. “If we look at the economy…I would say that each year, whatever happens

Aerial shot of Miami South Beach full of hotels with some long shadows reaching into the sea. Florida, USA.
News CatastrophesClaimsClimate ChangeConstructionInsurance

Climate change not the leading cause of NatCat losses: Verisk

September 15, 2023 by David Gambrill

Although climate change is frequently cited as the Number 1 reason for higher natural catastrophes (NatCat) losses, increases in property exposure and repair costs are more significant short-term factors, according to a new report by Verisk Analytics. “Climate change is

Percentage sign and bull financial markets
News Earnings / RatingsEmploymentInsuranceMarkets / Coverages

Weakening economy convinces BoC to hold key rate, but door to more hikes stays open

September 6, 2023 Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – The Bank of Canada held its key interest rate steady at five per cent on Wednesday, deciding against another rate hike as the economy begins to falter. “With recent evidence that excess demand in the economy is easing,

How interest rates are impacting Canadian insurers' balance sheets
News ClaimsInsurance

How inflation’s helping some Canadian P&C companies

August 24, 2023 Philip Porado

Inflation, and more specifically efforts by Canada’s central bank and its peers worldwide to curb its impacts, has given something of a boost to property and casualty (P&C) insurers’ balance sheets. Specifically, higher interest rates have expanded fixed income investment

Interest rates rising
News Insurance

Central bank raises key interest rate to 5%

July 12, 2023 Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – The Bank of Canada raised interest rates again on Wednesday, hitting the economy with even higher borrowing costs as new projections suggest it will take longer for inflation to fall back to two per cent. The central bank

Economic and geopolitical risks have insurers walking a tightrope in 2023
News BrokersClimate ChangeCommercial LinesInsuranceRisk

Despite easing inflation, P&C insurers face challenges

June 27, 2023 Philip Porado

Canada’s May inflation rate slipped to an annualized 3.4%, Statistics Canada said Tuesday. That’s the lowest rate in two years and solidly below the 4.4% annual rate posted in April. It’s also in line with the Bank of Canada’s efforts