HomeInsuranceAward-winning Canadian construction MGA breaks down market trends

Award-winning Canadian construction MGA breaks down market trends

Read more: 5-Star Construction 2022

IBC spoke with Hans Choi, segment manager for construction at Cansure, to learn more about what Cansure thinks about the current state of the construction insurance market, and the MGA’s secrets to being successful.

Choi found that despite the ongoing pandemic, there has been an upward trend in the construction market over the past year. He attributed this trend to bidding wars for homes, a spike in home prices, and very low interest rates – though a recent rate hike has put a stop to the latter. He also noted that there has been an increase in the number of renovation projects and office building conversions. 

“We have seen an upward spike in underutilized commercial space being turned into apartments and condos,” said Choi. “This is seen in cities like Calgary and Edmonton where…

Read more at www.insurancebusinessmag.com

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