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recession

Fears of a recession in Canada
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Definity CEO on how recession fears are affecting insurance

November 16, 2022 by Jason Contant

Fear of a looming recession doesn’t appear to be affecting consumers’ purchasing behaviours yet, Definity Financial Corporation president and CEO Rowan Saunders said during a virtual fireside chat with RBC Capital Markets. “Insurance is quite close to being a recession-proof

Red wine for the holidays
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Looming recession causes concern for Canadian restaurant industry

October 25, 2022 Rosa Saba - THE CANADIAN PRESS

TORONTO – Restaurants and bars across Canada are hoping this holiday season could finally spell recovery for the debt-laden sector. But, elevated inflation and a potential recession have them worried that their new normal won’t pay the bills. James Rilett,

The word 'inflation' written on a keyboard with a Canadian flag
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Business expectations for inflation have eased: Bank of Canada surveys

October 18, 2022 Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – Most consumers and businesses think Canada will enter a recession, according to new surveys from the Bank of Canada, but businesses expect upward pressure on prices and wages to ease while consumers are still pessimistic about inflation in

Is Canada going into recession?
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Lessons from COVID-19 will help brokers get clients through a recession

September 9, 2022 David Gambrill

If a long-predicted recession comes to pass, brokers will need to stay close to their clients’ changing needs. But in some ways, commercial insurance brokers have gained an advantage from the discipline developed while navigating their clients through COVID-19. Those

Unhappy businessman in his office
News Insurance

Layoff anxiety: Are your P&C professionals affected?

September 6, 2022 by Jason Contant

With predictions that Canada might be headed for a ‘moderate’ but short-lived recession, Canadian P&C insurance professionals will understandably be concerned about their own job prospects. Living in fear of a layoff can be crippling. Proactively confronting this layoff anxiety

Golden Coins Increasing stacks with reflection in the mirror and growing green tree.
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Where to find recession-proof clients to help grow your business

July 28, 2022 by David Gambrill

Global recession can not only change the way insurance does business, but it also may change the way your clients do business – which may lead to the next big recession-proof opportunities for insurance sales growth. Economies in recession don’t

Concept of Canadian stock market exchange crisis and recession
News Insurance

Canada headed towards ‘moderate’ recession in 2023: RBC economists

July 7, 2022 Adena Ali - THE CANADIAN PRESS

TORONTO – Canada is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists said Thursday that soaring food and energy prices, rising

News Insurance

Segment these customers to boost your pandemic sales

July 21, 2020 by Adam Malik

Insurers are going to need to show maximal flexibility when it comes to selling insurance policies, since a record amount of people are out of work due to the COVID-19 pandemic and won’t have a lot of extra cash to

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Here’s how P&C pros say the recession will impact insurance

June 26, 2020 by Adam Malik

The recession will be long and painful so brokers and insurers need to settle in and do what they do best, property and casualty experts said. And don’t be surprised if some mergers and acquisitions activity push forward as tough

News Markets / Coverages

Canada now in a recession: C.D. Howe council

May 1, 2020 THE CANADIAN PRESS

TORONTO – The C.D. Howe Institute’s Business Cycle Council says Canada has entered a recession due to the economic devastation caused by the COVID-19 pandemic. In a report released Friday, the council said the economy peaked in February before the

News BrokersInsuranceMarkets / Coverages

What Canadian P&C industry fears the most about the pandemic

March 30, 2020 by David Gambrill

Canada’s fragile economy is what’s keeping everyone in the P&C insurance industry awake at night. The unknown future of an economy that is almost certainly headed for a global recession figured in the Top 3 answers of what P&C insurance

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Technology innovation top growth opportunity for (re)insurers in 2017: Guy Carpenter survey

November 7, 2016 by Canadian Underwriter

Technology innovation will provide the biggest growth opportunities for (re)insurers in the year ahead, according to Guy Carpenter’s annual Market Pulse Survey, released on Monday. Now in its fifth year, the survey polled 107 insurance and reinsurance professionals during the