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,”…
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…
Canadian economic growth lags expectations in Q2; July estimate points to contraction
August 31, 2022 The Canadian PressOTTAWA – Economists expect the Bank of Canada to move forward with another aggressive interest rate hike next week after the release of data showing the economy remained in relatively good shape during the second quarter of the year. The…
Economists predict inflation climbed even higher in June amid ‘reopening effect’
July 18, 2022 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further. The consumer price index in Canada hit a nearly 40-year high of 7.7 per cent…
Exiting the commercial hard market may be prolonged: Insurers
April 5, 2022 by David GambrillCanada’s P&C insurers are exposed to historically-high inflation rates, which may prolong the hard market in commercial lines, Canada’s association of home, auto and business warns. “On the commercial side, I think this inflation is either going to prolong the…
How inflation could prolong the hard market
February 25, 2022 by David GambrillInflation could prolong the hard market in Canada’s property and casualty lines, brokers caution. RMS Canada reports that inflation will hit 5% in 2022 before approaching 3% by the year’s end. “Persistent inflation is primarily due to supply constraints and…
Small businesses warn of layoffs, closures if pandemic aid isn’t extended
October 21, 2021 The Canadian PressOTTAWA – Business groups in Canada are warning that ending federal pandemic-relief programs too soon could send shock waves through the economy. Cutting off wage and rent subsidies as planned on Saturday will force many businesses to reduce their hours,…
Businesses see higher inflation, wages and job changes, Bank of Canada reports
October 18, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – Consumers and businesses expect increases in the cost of living to stay hot over the next year, the Bank of Canada says as part of surveys results that also show people more willing to search for new jobs,…
North American markets continue to rise despite mounting COVID-19 case numbers
August 4, 2021 Salmaan Farooqui - THE CANADIAN PRESSTORONTO – North American markets moved up on the first day of August trading in Canada, even as concerns mount around rising COVID-19 case counts in the U.S. Scott Guitard, senior vice-president and portfolio manager at Fiduciary Trust Canada, said…
‘I quit’: Wave of resignations prompts concerns over labour shortage
July 7, 2021 Amanda Stephenson, The Canadian PressCALGARY — If not for COVID-19, Valerie Whitt might never have summoned the courage to quit her job. The 50-year-old Markham, Ont. woman had been a project manager for Ontario Health for 13 years. She felt drained and exhausted from…
Canadian home sales up 76% year over year, set new March record: CREA
April 15, 2021 Tara Deschamps, The Canadian PressA trickle of supply started returning to the country’s real estate sector in March, but it did little to cool off heated markets as monthly home sales hit an all-time record, the Canadian Real Estate Association said Thursday. Sales across…