Canadian Underwriter

Saving coins to represent high cost insurance coverage for cyber attacks
News BrokersClaimsInsurance

Pricing still affects brokers’ ability to sell cyber

February 27, 2024 David Gambrill

To the surprise of no one in the broker channel, the ongoing hard market in cyber still plays a significant role in why clients decline to buy coverage. About 40% of brokers responding to a recent CU survey selected ‘Price

Rocket represents rising reinsurance premiums
News CatastrophesClimate ChangeInsurance

What’s the future for Canada’s reinsurance rates?

August 2, 2023 Alyssa Di Sabatino

New risks emerging in Canada are leading reinsurers to increase premiums, industry experts have told Canadian Underwriter. Although U.S. damage losses last year far outweighed Canada’s, contributing significantly to escalating reinsurance prices, insured NatCat damage in Canada in 2022 was

Inflation is getting away from us
News ClaimsInsuranceRisk

How insurers can respond to interest rate hikes and market volatility

March 24, 2023 Philip Porado

How might high inflation, rising interest rates, and current volatility in stock and bond markets impact future P&C insurance pricing? It’s too early to tell. For insurers, the current environment requires consistent monitoring of profitability and portfolio performance, said Fiona

Computer wrapped with crime scene tape to represent a hacker attack
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Is cyber coverage broken? And, can it be fixed?

March 10, 2023 Jason Contant

Not long ago, the Canadian P&C industry’s cyber loss ratio was more than 400%, meaning cyber insurers were paying out an average of more than $4 for every $1 they received in premiums. Those first-quarter numbers from two years ago

Two ice cubes melting on reflected surface
News BrokersInsurance

Hard market shows signs of thawing

February 3, 2022 by David Gambrill

Globally, the P&C insurance market remains on the hard side, but there are signs of melting, based on the results of the latest Global Insurance Market Index released by Marsh. Global commercial insurance prices increased 13% in 2021 Q4, continuing

News Brokers

In the hard market, are you selling on price or coverage?

May 11, 2021 by David Gambrill

Price point and carrier capacity have become increasingly important factors for brokers in recommending insurance coverage to their clients over the past year, according to Canadian Underwriter’s 2021 National Broker Survey. Canadian Underwriter asked 234 Canadian P&C insurance brokers across