Private companies, including not-for-profits, face rising legal and other exposures from lenders and private investors, customers and employees that can impact Directors & Officers (D&O) insurance policies. And, over the past three years, economic volatility has emerged as a key…
OTTAWA – The Bank of Canada is once again holding its key interest rate steady at 4.5 per cent but isn’t ruling out the possibility of more rate hikes down the line. The central bank said Wednesday that recent economic…
OTTAWA – New reports from the Bank of Canada suggest business and consumer expectations on inflation are moderating, but a potential recession continues to weigh on economic outlooks. The surveys released today show inflation expectations are easing, but consumers and…
How might high inflation, rising interest rates, and current volatility in stock and bond markets impact future P&C insurance pricing? It’s too early to tell. For insurers, the current environment requires consistent monitoring of profitability and portfolio performance, said Fiona…
Inflation took a small bite of out of global reinsurers’ generally profitable combined ratios, and rising interest rates made a 27% dent in the reinsurers’ shareholder equity, but overall the global reinsurance sector came out of 2022 in decent shape,…
OTTAWA – Canada’s annual inflation rate continued to slow last month, reaffirming the central bank’s decision to hold its key interest rate steady. In its latest consumer price index report released Tuesday, Statistics Canada said the country’s inflation rate rose…
OTTAWA – The Bank of Canada is holding its key interest rate steady for the first time in a year while reiterating its wait-and-see approach to monetary policy. The central bank said Wednesday that it has decided to hold its…
Despite lower inflation, Intact Insurance is nevertheless predicting an ongoing hard market in Canada in 2023 because of higher reinsurance rates and elevated natural catastrophes. “Looking at the [Canadian P&C insurance] industry, we see hard market conditions continuing, given rising…
OTTAWA — Bank of Canada governor Tiff Macklem says that although a slowing economy may not seem like a good thing, it is when the economy is overheated. Speaking in Quebec City Tuesday, Macklem said that higher interest rates are…
With carpooling on the rise for those feeling inflation’s burn, and among millennials who are often keen to reduce their environmental footprints, brokers should ensure they’re asking about clients’ high-occupancy-vehicle habits, said one auto insurance expert. “What you tend to…
Insurers had predicted consumer driving habits would return to pre-pandemic levels during 2022, or 2023 at the latest, but inflation may be throwing a wrench in those forecasts, said a recent industry survey. Almost half (48%) of Canadians have made…
OTTAWA – The Bank of Canada raised its key interest rate by a quarter of a percentage point Wednesday and said it expects this to be the last rate hike of the cycle. The rate increase marks the eighth consecutive…