Anna McCrindell, senior vice president, COO – East, Wawanesa Insurance This year challenged insurers and our broker partners. Inflation and macroeconomic pressures drove up costs, auto thefts reached new and troublesome levels, and climate change resulted in a devastating wildfire season and severe storms across the country. These pressures will continue through 2024. Looking ahead, we […]
By Phil | December 22, 2023
2 min read
Rob Marsh, president, Liberty Mutual Canada The future continues to be bright for people who embrace change with curiosity and courage. The interconnectedness of risk and pace of technological advancement — with climate change and artificial intelligence being at the forefront — is growing exponentially, and we are poised to see these changes continue in 2024. […]
By Phil | December 22, 2023
2 min read
Jamie Lyons, president, CEO, Westland Insurance As we look ahead to 2024, it’s important to acknowledge we are coming out of a year that has been difficult for a lot of people. World events, materially higher living costs, an unsettled economy, escalating weather/climate change concerns and mounting uncertainty about the future are all factors. We are in […]
By Phil | December 22, 2023
2 min read
Valerie Lavoie, president, COO, Desjardins General Insurance Group The industry has faced several trials and tribulations in 2023. Supporting our clients through uncertainty with preventative and innovative approaches is a key theme in our organization as we prepare for 2024. This year made it clear more needs to be done when it comes to mitigating climate […]
By Phil | December 21, 2023
2 min read
Robin Joshua, president, Echelon Insurance Heading into 2024, we can anticipate an increasingly conservative market for commercial property insurance, driven largely by high inflation rates alongside an increased frequency of natural disasters. In 2022, natural disasters cost the insurance industry $3.1 billion in losses, and we’ve seen this trend continue in 2023 with wildfires, flooding, windstorms […]
By Phil | December 21, 2023
2 min read
Nick Creatura, President, CEO, CNA Canada The best indication of factors that will shape the 2024 Canadian P&C insurance landscape lies in today’s headlines. Market uncertainty evident in recent years persists. Principal drivers include the now-familiar macro trends of: Focus on Talent Against this backdrop of uncertainty, the core role of insurers remains unchanged […]
By David Gambrill | December 21, 2023
2 min read
Louis Gagnon, CEO, Canada, Intact Financial Corporation Canada’s property and casualty insurance industry must think in terms of decades, not quarters. We are here to support brokers and customers through all market cycles. The long-term horizon has never been more important, since the increased cost of living currently makes life more challenging for many customers. To grow […]
By Phil | December 20, 2023
2 min read
Philomena Comerford, president, CEO, Baird MacGregor Technology will continue to change the way we work, presenting both productivity opportunities and oversight challenges for our industry and our workforce. Artificial intelligence (AI) has the potential to vastly improve our industry’s efficiency, allowing us to better integrate our business processes. But to guard against the threat of inherent bias […]
By Phil | December 19, 2023
2 min read
Abraham Baboujian, president/co-CEO, RRJ Insurance Group 2024 will see a sense of calm and maturity in our attempts to come to grips with three issues dominating the P&C landscape — cyber, digital/technology transformation, and climate change. Cyber will continue to make a lot of noise, but it will be less alarming due to increased awareness, continued […]
By Phil | December 19, 2023
2 min read
There’s no understating how much has changed over the last five years. The world has experienced a series of extraordinary shocks, including the COVID-19 pandemic, the highest global inflation rates since 1981, the largest war in Europe since 1945, and increasingly volatile climatic events. Indeed, the world has changed, and risk is elevated. These risks […]
December 13, 2023
3 min read