For several years, Canadian P&C insurance brokers climbed through a hard market in virtually all commercial specialty lines.
Now, industry analysts have told Canadian Underwriter, that climb has plateaued in both the cyber and directors and officers (D&O) lines.
“Now it’s a little easier,” reported Denise Hall, national broking director at Aon Canada. “The market’s a bit more transitional. We have some more tools in our tool belt…. It feels like we’re in a more profitable, competitive market right now.”
Commercial brokers particularly see opportunities in the cyber and D&O lines. “Those are the most boomeranged of segments over the last three years,” said Dane Hambrook, head of specialty at Zurich Canada.
Cyber: opportunity knocks
At COVID-19’s peak, the industry experienced what one Canadian P&C cyber insurance executive called ‘the insanity’ of…