Keyword
Social Inflation
Inflation and higher interest rates may alter P&C market
August 2, 2022 Glenn McGillivrayA one-two punch delivered by inflation and the resulting interest-rate increases could have several impacts on Canada’s P&C sector, including on claims costs, expense ratios, investment returns and the continued viability of the current hard market. Nearly all major industrialized…
4 causes of social inflation and why it’s costing your clients more
August 10, 2021 by Greg MeckbachSocial inflation is one reason your client’s commercial rates may be outpacing the insurers’ loss cost trends, a Bermuda insurer CEO suggests. “I define social inflation as including politicians, regulator, or courts re-defining wording in favour of claimants,” said Albert…
How to prevent a minor loss from turning into a huge claim
May 3, 2021 by Adam MalikAlthough American inventor and Founding Father Benjamin Franklin was not referring to insurance when he penned the famous words “time is money,” today’s risk managers should take the expression to heart if they wish to reduce their companies’ claims costs.…
Opinion: Why the industry is wrong about litigation funding
November 12, 2020 Paul Rand, Omni BridgewayLitigation funding provides companies and individuals with an important strategic tool. But a few leaders in the insurance industry warn us to “watch out” for litigation funding. They claim it could “significantly raise insurers’ costs.” Good news: They’re wrong. Writer…
Watch out for litigation funding in Canada, industry execs warn
October 2, 2020 by Adam MalikA leader in the Canadian P&C industry is sounding the alarm about the rise of litigation funding in Canada. Litigation funding is an arrangement in which a third-party company — not the plaintiff’s law firm — agrees to fund all…
‘Bold and underline that’ — What this Aon exec says is the top reinsurance issue
September 25, 2020 by Adam MalikSocial inflation is the top item of concern for an Aon reinsurance executive, even if it’s an issue being exacerbated in the United States rather than in Canada. “I would bold and underline that — that is, I think, the…