Over the past 6 weeks or so, there has been considerable insurance information in the news over concerning the covid-19 crises. Most have heard local news announce that Canada’s insurers are reviewing options for premium relief, for qualifying customers struggling amid the COVID-19 pandemic. We’re aware of this developing COVID-19 situation, and the potential impact to all of our clients.

While there’s no across-the-board rate reduction in the industry, some insurers have come out with details of their own programs. Many other insurers are expected to develop similar strategies in coming days. We will continue to monitor the situation, obtain information, ask questions and communicate relevant information to you individually or via E-News as specific plans develop.

One of the main challenges faced by all insurers is ensuring adequate funding for future losses. Claims may or may not decrease in the future and premium income is necessary to prepare and pay these future losses. If insurers do not get this right, and are faced with future catastrophes, such as summer hurricanes and flooding, or winter ice storms, it will end up in financial catastrophe and the inability to pay these massive claims.


Risky Business By Guthrie Insurance – Spring Newsletter

Risky Business By Guthrie Insurance – Spring Newsletter

Spring Newsletter We made it! Another winter is now behind us. Who would have thought what the Spring of 2022 would bring? A hopefully waning pandemic, inflation, and now sadly, war. From an insurance perspective, the risks we...

Risky Business By Guthrie Insurance – Fall Newsletter

Risky Business By Guthrie Insurance – Fall Newsletter

Fall 2021 Newsletter Autumn greetings to our valued clients, friends and colleagues. Here we are now heading in to the winter of 2021. What a year it has been. Rather than rehash the challenges of the past two years, once again we look forward to an autumn and winter...

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