Canada’s hard market in insurance remains the Number 1 concern of new and experienced brokers alike, as well as brokerages big and small, according to Canadian Underwriter‘s 2022 National Broker Survey.
The gender split among respondents was most prominent, with 86% of women picking the hard market as their top concern on a list of 12 options. For men, 67% identified the hard market as their top concern. Canadian Underwriter’s February survey asked more than 250 brokers nationwide what they saw as the strongest challenges to the broker distribution channel.
“There’s no doubt that for many brokers, this was in fact the first time they’ve ever experienced a hard market,” said Joseph Carnevale, president of the Insurance Brokers Association of Ontario. “It’s been over 17 years since the last hard market in our industry, and it’s something new to a lot of…
