TCHC Renewal September 14, 2020 Item 9 - BIFAC:2020-59 - - - PowerPoint PPT Presentation

September 14, 2020

TCHC Renewal

Item 9 - 2020-21 Corporate Insurance Program Renewal BIFAC Public Meeging - September 14, 2020 Report:BIFAC:2020-59 Item 9 - BIFAC:2020-59 - Presentation

Introductions

HSC

Howie Wong, Chief Executive Officer P: 416-594-9325 ext 252 E: hwong@hscorp.ca Sarah Baker, Chief Operating Officer P: 416-594-9325 ext 322 E: sbaker@hscorp.ca

Marsh Canada

Lyne Erwin, Managing Director P: 416 349 4748 E: Lyne.Erwin@marsh.com Glenn Sheppard, Vice President P: 416 349.4373 E: Glenn.Sheppard@marsh.com Philip Mouser, National Practice Leader P: 416 349.4373 Philip.Mouser@marsh.com

Item 9 - BIFAC:2020-59 - Presentation

Agenda

HSC Group Insurance Program

• Market Update
• Impact of COVID-19
• Outlook on Costs

Item 9 - BIFAC:2020-59 - Presentation

Market Update

• Hard market globally
• City of Toronto has reported rates have tripled on municipal side

– this is the new reality

• Insurers continue to exit certain classes of business
• Real estate, healthcare less desirable
• New capacity is often at a considerably higher premium
• Accounts with adverse loss history are seeing

increases well above the averages.

• Covid19/Infectious disease exclusions are now being

added to insurance renewals

Item 9 - BIFAC:2020-59 - Presentation

Impact of COVID-19

• Insurers reporting claims related to COVID19
• Forecast: the pandemic will ultimately cost the global property

and casualty industry over $100B

• HSC Program goal: maintain infectious disease coverage or

limit the extent of any exclusion

Item 9 - BIFAC:2020-59 - Presentation

Outlook on Costs

• Underwriters finalize quotes as close to renewal as possible –

week of September 25th

• HSC clients will likely fare better than those with other multi-

residential insurers/brokers

• Overall group premium will rise 15-20%
• Underwriter risk exposure:
• Value of Claims Trust Fund
• Property Values
• Deductibles
• COVID-19

Item 9 - BIFAC:2020-59 - Presentation

Philip Mouser National Practice Leader P: 416.868.2188 E: Philip.Mouser@marsh.com Lyne Erwin Managing Director

P: 416 349 4748 E: Lyne.Erwin@marsh.com

Howie Wong Chief Executive Officer

P: 416 594 9325 ext 252 E: hwong@hscorp.ca

Principal Broker #M20000487 Mortgage Broker Licence #13212 HPC Housing Investment Corporation Mortgage Administrator Licence #13265

Glenn Sheppard Vice President

P: 416 349.4373 E: Glenn.Sheppard@marsh.com

Sarah Baker Chief Operating Officer

P: 416 594 9325 ext 322 E: sbaker@hscorp.ca

Thank You

Item 9 - BIFAC:2020-59 - Presentation