Keyword
recession
Do auto clients ask for trouble by hiking deductibles?
December 15, 2023 Philip PoradoDuring 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…
Growth? Maybe. Why carriers aren’t promising a soft market yet
May 11, 2023 Alyssa DiSabatinoBeyond 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…
Tips for advising commercial clients during economic downturns
May 9, 2023 Alyssa Di SabatinoInflation 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,”…
Is Canada still heading toward a recession?
April 21, 2023 by Jason ContantCanada 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…
Brokers braced for tough conversations when the economy slips
April 14, 2023 Alyssa Di SabatinoMost 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 financial uncertainty may mean for D&O claims
April 12, 2023 Philip PoradoPrivate 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…
Surveys show economy softening, future inflation expectations falling
April 3, 2023 The Canadian PressOTTAWA – 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…
Canada heading into ‘mild recession,’ Deloitte report suggests
March 28, 2023 The Canadian PressOTTAWA – 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…
How a recession could affect M&A deals in P&C insurance
March 3, 2023 by David GambrillThreats 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…
Provinces to see limited growth this year but protracted recession unlikely: Report
February 28, 2023 Brett Bundale - THE CANADIAN PRESSCanada’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…
How the recession will affect personal lines
January 24, 2023 by Alyssa DiSabatinoAn 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…
Bank economists see mild recession likely ahead despite surprising resilience
January 13, 2023 The Canadian PressTORONTO – 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…