Hunters International Insurance

Our MPs need to hear from their constituents that this kind of policy development is important so that future catastrophic events don’t economically crush us all or large swathes of our nation. Furthermore, one of the factors that affects insurance pricing is uncertainty. This is a degree of certainty our government can bring to bear. There are others, such as immunity legislation when it comes to liability for COVID-19 transmission or other broad risks we need to measure and take as individuals without recourse.

Cross reference the other article in today’s Globe wherein our Ontario Minister of Finance urges insurers to not engage in discriminatory pricing based on, I guess, industry. Urging won’t do anything especially when it’s not really the local players engaging in the practice. Canadian insurers are unregulated when it comes to business insurance pricing. I wouldn’t advocate pricing regulation (cross ref Ontario car insurance) but I would advocate using government policy tools to create more certainty for insurers and for industries that need some form of risk transfer support.

The global insurance market tightening so significantly in concert with a global pandemic shines the light on this opportunity. Send Alister Campbell ‘s article to your MP.

Opinion: Pandemic a reminder Canada’s insurance industry needs a government backstop for catastrophic events - The Globe and Mail Email to friend Share on twitter Share on facebook Share on linkedin Share on whatsapp Images are unavailable offline. Evan Bootle pulls down the plastic screen that hangs in front of the stage at the Dakota Tavern in Toronto, on Sept 30, 2020. The tavern, which is losing its insurance, will be foce...