Today’s topic is insurance, and joining the discussion is Jeffrey Charles. He is the Managing Director at Arthur J. Gallagher Canada. Jeffrey joined the insurance business because of its resilient nature after he experienced the 2008 crash while working in the travel industry.
We take a deep dive into insurance, with Jeffrey providing helpful analogies to make the complicated world of insurance a little easier to understand. He reveals some of the stats examined to determine an insurance premium and tells us how COVID-19 is affecting the insurance industry.
Topics covered include:
- The asset class with the most severity and frequency of incidents.
- Insurance clauses and why every situation needs to be evaluated individually.
- The silver lining that Jeffrey sees coming from the pandemic.
- Metrics that Jeffrey looks at to determine rates.
- The two ways that insurance companies make money.
- An explanation of reinsurance.
- “There’s no such thing as a bad risk, just a bad price.”
- What exactly Lloyd’s of London is and its value proposition.
- The importance of reputation and how you conduct yourself at Lloyd’s.
- Challenges that Jeffrey and his company are experiencing because of COVID-19.
- The effects of having time limits on vacancy clauses.
- Pension allocations growing towards fixed assets that yield cash.
- Buying insurance because of contractual obligation versus understanding the risk.
More about our guest…..
|Areas of Responsibility |
Jeffrey is a Managing Director with Gallagher in Canada. Jeffrey specifically is responsible for our real-asset management business, leading our teams focused in Real Estate & Hospitality, Renewable Power, Infrastructure, and he also works within Private Equity advising on transactions and conducting due diligence.
Jeffrey acts directly on behalf of institutional pension capital, asset managers, and public companies investing in and developing real assets in Canada, and insures assets around globe. Jeffrey acts for over 10 billion dollars of assets insured, where the majority is placed within the property damage and business interruption insurance marketplace. By nature of his work, Jeff also has extensive experience providing consulting in connection with due diligence for mergers & acquisitions and project finance. Jeff has been instrumental in delivering alternative risk transfer opportunities to the Canadian marketplace, including developing solutions for natural catastrophe, and unique weather related hedging delivered in the form of insurance. He maintains very strong relationships in the Lloyds of London and Bermuda Reinsurance marketplaces.
|Education and Professional Designations|
University of Waterloo
B.I.S., Bachelor of Independent Study, Business University of Toronto C.R.M., Certified Risk Management
Top 10 under 40, Canadian Insurance Top Broker Magazine, July 2013