Canadian Underwriter

Cutting Canadian dollars to represent price cuts
News BrokersInsuranceMarkets / Coverages

Why D&O price cuts may not be justified

February 15, 2024 David Gambrill

Softer market conditions reported in some professional liability lines are premature and unjustified, a global reinsurer told September’s National Insurance Conference of Canada (NICC) in Montreal. The NICC reinsurance panel followed a presentation on the global economy by Swiss Re’s

Cybercriminal coming to steal your data
News ClaimsInsuranceTechnology

Why insurers worry about clients’ crime coverage

September 15, 2023 Alyssa Di Sabatino

As clients tighten their purse strings in anticipation of an economic downturn, they are increasingly underinsured for their crime-related losses. Crime insurers are seeing an uptick in social engineering (i.e., phishing) claims, says Katherine Gauthier, vice president of specialty solutions

Insurance broker using binoculars to find opportunities
News BrokersClaimsInsurance

Where brokers can find opportunity in a softer D&O market

September 13, 2023 David Gambrill

After several years of a hard market, P&C industry executives report a plateau of price increases in directors and officers (D&O) lines. As fears of pandemic-fuelled losses fade, D&O lines are becoming more profitable and that’s leading to some increased

Person showing others the way out of a cave
News BrokersClaimsInsuranceMarkets / Coverages

Which coverages will lead brokers out of the hard market?

September 5, 2023 David Gambrill

For several years, Canadian P&C insurance brokers climbed through a hard market in virtually all commercial specialty lines. Now, industry analysts have told Canadian Underwriter, that climb has plateaued in both the cyber and directors and officers (D&O) lines. “Now

Insurance technology can hep new brokers learn
News BrokersEmploymentInsuranceRiskTechnology

How broker tech can reduce E&O exposure  

June 16, 2023 Alyssa Di Sabatino

A growing wave of retirements means Canada’s property and casualty (P&C) insurance brokerages are losing the knowledge and experience of many of its senior leaders. “Many brokerages run into issues because they don’t have a system for knowledge transfer, which

A price drop may be on the way for D&O and cyber insurance coverages
News BrokersClaimsCommercial LinesInsurance

Ratings reports see pricing declines for two P&C coverages

June 15, 2023 Philip Porado

New market entrants over the past year have helped ease price increases for two key property and casualty (P&C) insurance coverage segments in the U.S., according to a pair of recent reports from Fitch Ratings. Changes in the competitive landscape

Jumping over a shark to represent risk.
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Why D&O brokers are looking at risk mitigation

May 19, 2023 Philip Porado

Amid signs the recently easing directors and officers (D&O) coverage segment may gradually become a bit tougher, brokers and insurers will be taking a closer look at companies’ risk-mitigation procedures. When writing risks, Catherine Lanctot, senior vice president and national

Cybercrime is on the rise in Canada and companies can no longer ignore cyber insurance
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

Don’t let clients cheap out on cyber coverage

May 10, 2023 Philip Porado

As high-profile ransomware attacks continue to grab headlines, insurers providing directors and officers (D&O) coverage are concerned private company boards might not be managing cyber risk. “Are they allocating enough funds to cybersecurity? Are they going to have a lawsuit

What's the economic outlook for 2023?
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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

Economies worldwide are becoming more fragile and prone to crisis
News BrokersClaimsCommercial LinesInsuranceLegal

Will fragile economy make it harder for brokers to sell D&O?

March 28, 2023 Philip Porado

A double-whammy of negative pricing shifts and claims uncertainty is hitting the Directors and Officers (D&O) insurance segment in the U.S., said a recent report from Fitch Ratings. It’s happening at a time when Canadian D&O lines are seeing some

Corporate boardroom in chaos
News BrokersCommercial LinesInsuranceMarkets / Coverages

What might cause the softening D&O market to stall?

March 8, 2023 Philip Porado

Hard markets may come and go, but they seemed to stick around longer for Directors and Officers (D&O) coverage than for some other P&C industry segments. As of last fall, though, D&O availability and affordability have been improving. After several

Broker standing in front of a series of doors, representing choices.
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesProductsRisk

Does your client need D&O or an ancillary coverage?

January 26, 2023 Philip Porado

While directors and officers (D&O) insurance is designed to cover individuals and corporate assets on the broadest threat level, certain exposures may require separate, dedicated policies focused on specific risks. When claim scenarios are investigated, it may become clear a