Keyword
Pricing
Why there’s no such thing as ‘bad risk’
November 14, 2023 Adam MitchellNew leads are crucial for any brokerage’s growth and continued business success. Although that’s a no-brainer, here’s something to remember when it comes to converting those leads into clients: there’s no such thing as good risks and bad risks. The…
What’s keeping reinsurance renewals steady?
July 6, 2023 Philip PoradoIn the lead-up to the July 1 reinsurance renewals, both the pricing and structural market dynamics that defined the Jan. 1, 2023 renewal period held steady, said Gallagher Re’s most recent 1st View renewals report. During the July 1 renewals,…
Why consumers may feel the impact of higher reinsurance costs for insurers
April 19, 2023 by David GambrillCanada’s primary insurers will need to run at sustained combined operating ratios of 95% or lower in the future in order to withstand future NatCat losses (and the cost of reinsuring them), without having to pass costs on to consumers,…
How insurers can respond to interest rate hikes and market volatility
March 24, 2023 Philip PoradoHow 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…
Is cyber coverage broken? And, can it be fixed?
March 10, 2023 Jason ContantNot long ago, the Canadian P&C industry’s cyber loss ratio was more than 400%, meaning cyber insurers were paying out an average of more than $4 for every $1 they received in premiums. Those first-quarter numbers from two years ago…
Hard market cycle in global commercial lines on the downswing
February 2, 2023 by David GambrillGlobally, cyber rates are increasing at a slower pace, and price increases in financial and professional rates fell for a second consecutive quarter, Marsh noted in its 2022 Q4 Global Insurance Market Index Thursday. Overall, global commercial insurance prices increased…
Why Intact Financial’s CEO says insurance market cycles aren’t ‘dead’
November 11, 2022 by David GambrillProperty and casualty insurance market cycles are by no means ‘dead’ — not because of insurers’ competitive behaviour, but because claims cost shocks often trigger the need to shore up pricing, according to Intact Financial Corporation CEO Charles Brindamour. Brindamour…
Looking for a quick D&O rebound after COVID? Don’t hold your breath….
July 9, 2021 by David GambrillBrokers looking to see directors’ and officers’ (D&O) insurance pricing and capacity rebound quickly after the pandemic had better not hold their breath — especially with the Canadian government now starting to pull the plug on certain COVID relief measures…
In the hard market, are you selling on price or coverage?
May 11, 2021 by David GambrillPrice point and carrier capacity have become increasingly important factors for brokers in recommending insurance coverage to their clients over the past year, according to Canadian Underwriter’s 2021 National Broker Survey. Canadian Underwriter asked 234 Canadian P&C insurance brokers across…
Insurance regulators expand scope of inquiry into Best Terms Pricing
December 2, 2020 by David GambrillCanada’s national association of provincial property and casualty insurance regulators is looking into “Best Terms Pricing” in all commercial lines following recent regulatory actions to ban the practice in the strata insurance line in B.C. and Alberta. The Canadian Council…
Staging an Intervention
April 21, 2020 David GambrillAs difficult as this may be for brokers to hear, market swings in the competitive environment of the P&C insurance industry are inevitable. During soft markets, when capacity is plentiful, companies will use that capacity to lower premium rates to…
Is the end in sight for commercial rate increases?
February 25, 2020 by Greg MeckbachCommercial rate increases gradually became steeper in 2019 and should continue like this for some time, says Prem Watsa, chairman and CEO of Fairfax Financial Holdings Ltd. Toronto-based Fairfax, the parent company of Northbridge Financial, recently reported a 21.6% increase…