Executive Outlook
The biggest challenge our industry will face in 2024 is rising claim costs that could outpace the rate increases we have been obtaining
By Phil Porado | December 26, 2023
2 min read
We’re seeing an historic spike in stolen vehicles. To underwrite these risks responsibly, many insurers are forced to increase rates.
By Phil Porado | December 22, 2023
We must help clients understand the confluence of factors shaping their risk environment, and in turn help them to increase their resiliency.
We haven’t seen the inflection point between premium growth and claims costs and there is potential to undo work to close protection gaps.
To address elevated risk profiles and manage portfolios profitability, many insurers are being aggressive about towards year-end results
Supporting clients through uncertainty with preventative and innovative approaches is a key theme in our organization as we prepare for 2024.
By Phil Porado | December 21, 2023
Increased claims due to natural disasters paired with rising repair costs will make it harder to insure risks to their value going forward.
Climate change affects the cost, availability and scope of insurance coverage, and playing environmental catch up is a hard game
Auto theft will continue to be a challenge and more markets will roll out coverage/surcharge and anti-theft options.
The best indication of factors that will shape the 2024 Canadian P&C insurance landscape lies in today’s headlines.
By David Gambrill | December 21, 2023
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