Insurance Business ReviewJULY 20256Copyright © 2025 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorRaven Mcguire*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditorial StaffAaron Pierce Ava GarciaAlex D'Souza Abhinov PunnakkalJoshua ParkerSarah FernandesEditorialRaven McguireManaging Editoreditor@insurancebusinessreview.comSpecialty insurance, once a niche offering, is now experiencing significant growth in Canada. As businesses confront a surge in complex and emerging risks, ranging from extreme weather events and cyberattacks to supply chain disruptions and regulatory uncertainty, the demand for tailored coverage is rapidly expanding. Industries such as manufacturing, transportation, real estate, and technology are increasingly turning to specialty insurance as a strategic safeguard against high-impact exposures that traditional policies often fail to address.This transformation is being driven by the integration of advanced technologies across the insurance value chain. Digital platforms, data analytics, artificial intelligence (AI), and IoT-enabled devices are enhancing insurers' ability to assess, price, and manage risk with greater accuracy. Innovative products such as parametric insurance for climate-related events and customized cyber liability solutions are gaining traction, offering faster claims settlement and targeted protection for clients seeking immediate, dependable support.Despite the sector's momentum, several challenges persist. A shortage of skilled professionals, especially underwriters and claims adjusters, continues to strain capacity. Regulatory inconsistencies across provinces add operational complexity. Besides, inflationary pressures, rising reinsurance costs, and evolving expectations around ESG and data governance are reshaping underwriting standards and risk appetites.To remain competitive, the industry is investing in digital infrastructure, forming strategic partnerships, and prioritizing the development of talent. By enhancing analytical capabilities, reskilling teams, and improving client engagement, insurers are laying the foundation for long-term resilience.In this edition, we spotlight influential leaders helping shape the future of specialty insurance. Among them is Matthew T. Studley, Chief Operating Officer, Ontario & Atlantic at HUB International. Studley brings deep expertise in risk transfer for sectors such as investment management, fintech, private equity, and cryptocurrency.We also feature insights from Donna Carbell, EVP, Chief Strategy and Impact Officer at Equitable, and Bogdan Laza, Vice President, Strategic Risk Consultant, Commercial Insurance at Brown & Brown. Their perspectives offer valuable guidance for more informed, data-driven decision-making.Let us know your thoughts! Rising Demand, Evolving Risks, and the Leaders Driving ChangeVisualizersMichael WayneChris LynnJULY 2025, Vol 04 Issue 05 (ISSN 2837-1763) Published by ValleyMedia, Inc. To subscribe to Insurance Business ReviewVisit www.insurancebusinessreview.com Email:sales@insurancebusinessreview.comeditor@insurancebusinessreview.commarketing@insurancebusinessreview.com
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