Why there’s no such thing as ‘bad risk’
November 14, 2023 Adam MitchellNew leads are crucial for any brokerage’s growth and continued business success. Although that’s a no-brainer, here’s something to remember when it comes to converting those leads into clients: there’s no such thing as good risks and bad risks. The…
What’s keeping reinsurance renewals steady?
July 6, 2023 Philip PoradoIn the lead-up to the July 1 reinsurance renewals, both the pricing and structural market dynamics that defined the Jan. 1, 2023 renewal period held steady, said Gallagher Re’s most recent 1st View renewals report. During the July 1 renewals,…
Is the end in sight for commercial rate increases?
February 25, 2020 by Greg MeckbachCommercial rate increases gradually became steeper in 2019 and should continue like this for some time, says Prem Watsa, chairman and CEO of Fairfax Financial Holdings Ltd. Toronto-based Fairfax, the parent company of Northbridge Financial, recently reported a 21.6% increase…
Will hard market conditions persist beyond the end of next year?
November 21, 2019 by Greg MeckbachWith insurers’ returns on equity lower than normal, it’s anyone’s guess how much longer your clients are going to see price increases. “Through 2020 we will see rate increases,” said Jim Auden, Chicago-based managing director of North American Insurance at…
Why insurers are not calling it a hard market
April 5, 2019 by Greg MeckbachYour clients may be paying higher rates but hard market may not be the right way to describe it, speakers suggested at a recent insurance conference. “I don’t personally know if I would call it a hard market yet. What…
What commercial brokers are saying about the worrisome market turn
February 4, 2019 by David GambrillWhether the industry faces a hard market or simply a “market correction,” commercial lines premiums are definitely on the rise, Canadian commercial brokers reported in an online poll by Canadian Underwriter. And they are starting to get concerned about it.…
Signs of a hardening commercial market
August 20, 2018 by Greg MeckbachShopping around for the best deal for a business client may be getting more difficult as commercial lines prices start to uptick. Among commercial insurers, “it seems there is a little bit of tightening up on the risk appetite,” Raymond…