During the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on…
Beyond the obvious threats of inflation and a possible economic downturn later in 2023, a confluence of other issues is triggering duress for brokers and insurers, which has carriers cautioning the hard market isn’t over yet. Taken together, these factors…
Inflation 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,”…
Most 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…
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…
With predictions that Canada might be headed for a ‘moderate’ but short-lived recession, Canadian P&C insurance professionals will understandably be concerned about their own job prospects. Living in fear of a layoff can be crippling. Proactively confronting this layoff anxiety…
TORONTO – Canada is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists said Thursday that soaring food and energy prices, rising…
TORONTO – The C.D. Howe Institute’s Business Cycle Council says Canada has entered a recession due to the economic devastation caused by the COVID-19 pandemic. In a report released Friday, the council said the economy peaked in February before the…