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Bad car crash
News BrokersClaimsInsurance

Do auto clients ask for trouble by hiking deductibles?

December 15, 2023 Philip Porado

During the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on

Adjuster filling out a car accident assessment form
News BrokersCatastrophesClaimsCommercial LinesConstructionInsurance

Growth? Maybe. Why carriers aren’t promising a soft market yet

May 11, 2023 Alyssa DiSabatino

Beyond the obvious threats of inflation and a possible economic downturn later in 2023, a confluence of other issues is triggering duress for brokers and insurers, which has carriers cautioning the hard market isn’t over yet. Taken together, these factors

Older business person with empty wallet can't afford insurance
News BrokersCommercial LinesInsuranceMarkets / CoveragesRisk

Tips for advising commercial clients during economic downturns

May 9, 2023 Alyssa Di Sabatino

Inflation and the looming threat of an economic downturn would seem like a one-two punch that would make commercial clients think about ways to skimp on insurance. But it isn’t necessarily so. “Insurance is not a discretionary spend for most companies,”

Canadian flag and economic downturn
News Earnings / RatingsInsuranceMarkets / CoveragesRisk

Is Canada still heading toward a recession?

April 21, 2023 by Jason Contant

Canada will likely not experience a recession in the traditional sense but rather a ‘shallow downturn,’ BMO Financial Group’s chief economist Douglas Porter said at an industry event Thursday. “I’m reluctant to call what we’re looking at in Canada a

Canada braces for an economic downturn
News BrokersCommercial LinesInsurance

Brokers braced for tough conversations when the economy slips

April 14, 2023 Alyssa Di Sabatino

Most economists are still calling for some degree of economic downturn later in 2023. That makes the road ahead uncertain for commercial companies, and many can be expected to seek ways to tighten their belts. For some, cost-cutting measures may

What's the economic outlook for 2023?
News BrokersClaimsCommercial LinesInsuranceLegalRisk

What financial uncertainty may mean for D&O claims

April 12, 2023 Philip Porado

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

Economists are expecting a mild recession in Canada.
News Insurance

Surveys show economy softening, future inflation expectations falling

April 3, 2023 The Canadian Press

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

Canadian economy heading into a mild recession, Deloitte says
News Earnings / RatingsInsuranceRisk

Canada heading into ‘mild recession,’ Deloitte report suggests

March 28, 2023 The Canadian Press

OTTAWA – New research says Canada is heading into a mild recession as elevated borrowing costs, a downturn in the U.S. and persistent inflation dial up the country’s economic uncertainty. Deloitte Canada’s latest economic outlook, released ahead of the federal

Jigsaw puzzle piece with red arrow facing the opposite direction from crowd.
News BrokersEarnings / RatingsInsuranceMergers and Aqcuisitions

How a recession could affect M&A deals in P&C insurance

March 3, 2023 by David Gambrill

Threats of an economic recession in Canada are not likely to dampen mergers and acquisitions activity in the property and casualty insurance brokerage sector in 2023, one M&A expert predicts. Although M&A activity contracted in some industry sectors towards the

Possible recession in 2023
News InsuranceRisk

Provinces to see limited growth this year but protracted recession unlikely: Report  

February 28, 2023 Brett Bundale - THE CANADIAN PRESS

Canada’s provinces are poised for limited economic activity and sluggish growth for the rest of the year and into 2024, but the risk of a drawn-out recession is increasingly unlikely, according to a report released Tuesday.   The latest provincial

Insurance professional holds two houses up, and prevents them from crashing along a downfacing arrow, a symbol of the recession,
News BrokersClaimsCommercial LinesInsurance

How the recession will affect personal lines

January 24, 2023 by Alyssa DiSabatino

An impending recession could mean unaffordability for personal lines policyholders who make up almost half (49%) of the industry’s direct property premiums, an expert at the Insurance Institute of Canada’s Industry Trends & Predictions: 2023 webinar said. Insurers will need to

Economists are expecting a mild recession in Canada.
News Earnings / RatingsEmploymentInsuranceRisk

Bank economists see mild recession likely ahead despite surprising resilience

January 13, 2023 The Canadian Press

TORONTO – Big bank economists say the surprisingly resilient economy is likely headed for a mild slowdown in the year ahead, but that recent events show how difficult it is to predict the future. Speaking at an Economic Club of