Marc Lipman, President of Lloyd’s Canada, shares his insights on the Canadian market.
How is Lloyd’s helping to develop the Canadian commercial insurance and reinsurance market? In this video interview, Marc Lipman, President of Lloyd’s Canada, shares some of his thoughts. We learn:
- How Lloyd’s trading partners in Canada are pivoting to growth and optimistically looking to the future.
- The outlook for the Canadian market, where Lipman sees opportunities across the board. In newer lines, such as cyber, where Lloyd’s is a dominant market leader in Canada, he feels Lloyd’s can excel thanks to its expertise in this area.
- In terms of learning from the pandemic, he sees a clear need for the industry to continue to communicate the value proposition of insurance, and to simplify its products to remove ambiguity and coverage gaps. If we can improve that, he said, then we’ll be mor prepared for the next systemic risk.
- Finally, Lipman said he thinks the time has come for Canada to consider how it might deploy a public-private partnership to help the country respond to major catastrophes and deal with the consequences of far-reaching systemic risks.