Mired in a hard market, brokers need to give twice the typical amount of lead time these days when contacting underwriters to secure directors and officers (D&O) coverage for clients, according to a broker expert. The D&O market will remain…
Brokers are currently caught between a pandemic and a hard market, with several insurers predicting that Canada’s hard market cycle in property and casualty insurance will last at least one or two more years beyond the end of the pandemic.…
Underwriters of the future are going to look a lot more like technology trailblazers, data pioneers, dealmakers, portfolio optimizers, and risk detectives, according to a new report by Deloitte. “To remain competitive, insurers should accelerate underwriting transformation,” Deloitte states in…
In the midst of a hard market in several Canadian commercial insurance lines, several senior Canadian broker executives are urging underwriters not to substitute data and analytics entirely for their own good judgment about what constitutes a good or a…
Insurers are becoming more meticulous around what they deem to be a good risk and that extra scrutiny is giving brokers heavier workloads, broker leaders say, and it could force brokers to limit how much they take on. Interest rates…
At the same time insurers have a reduced appetite to take on real estate risks, real estate developers during a pandemic-induced economic recession have an aversion to investing a lot of money into risk-reduction measures. These twin dynamics are a…
The social and economic impact of the novel coronavirus pandemic in 2020 is truly horrifying, saddening, and staggering. Many of us have lost loved ones, or know people who are out of work because of the potentially lethal virus moving…
Capacity is still readily available to cover cyber risks, but more insurers are approaching the coverage cautiously, a speaker said Friday at NetDiligence’s Cyber Risk Summit in Toronto. In terms of procedure, clients’ applications for cyber coverage must clear more…
What makes a carrier a broker’s best friend forever? We asked brokers what tips the scales when they choose a carrier for their clients. Here’s what they told us….
Commercial underwriting in the future may expand to encourage more cross-functional and hybrid responsibilities, potentially with engineering, claims, finance or operations, according to a new report from McKinsey & Company’s insurance practice. “To attract younger talent, companies need to recognize…
Underwriting margins will need to improve by at least six to nine points in major western markets to deliver sustainable returns, according to the latest sigma report from global reinsurer Swiss Re. The report Profitability in non-life insurance: mind the…
Brokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and…