Canadian Underwriter

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Reinsurance


Empty road to upcoming 2017 against the big cloud
News Commercial LinesEarnings / RatingsInsurancePersonal Lines

U.S. personal lines stable, commercial lines remain negative in A.M. Best’s 2017 outlooks

December 14, 2016 by Canadian Underwriter

Ratings firm A.M. Best is maintaining a stable outlook for 2017 on the personal lines segment of the property and casualty industry in the United States, while also maintaining a negative outlook on commercial lines. The Oldwick, N.J.-based firm maintained

Stock market chart
News Earnings / RatingsInsuranceReinsurance

A.M. Best maintains global reinsurance sector outlook at negative

December 13, 2016 by Canadian Underwriter

A.M. Best Company is holding its outlook for the global reinsurance sector at negative, citing the continued market challenges that will hinder the potential for positive rating actions over time and may eventually translate into negative rating pressures. The Best’s

New Zealand Earthquake
News CatastrophesInsuranceReinsurance

Tennessee and Israel wildfires, New Zealand quake among expensive catastrophes in November: Aon Benfield

December 7, 2016 by Canadian Underwriter

The November 13 earthquake affecting New Zealand “serves as a reminder ” of earthquake risk in Oceania, while wildfires — some set deliberately – in Israel, will cause economic losses of over half a billion, Impact Forecasting LLC suggested in

The remains of a business Wednesday, Nov. 30, 2016, after a wildfire hit Gatlinburg, Tennessee. Photo by Mark Humphrey, The Associated Press
News Catastrophes

Canadian couple among the dead in Tennessee wildfire

December 2, 2016 THE CANADIAN PRESS

GATLINBURG, Tenn. – A couple from Canada is among the victims of a wildfire that ravaged the Smoky Mountains resort city of Gatlinburg, Tennessee. Authorities say 71-year-old Jon Tegler and 70-year-old Janet Tegler are among 13 people who have died

two business persons plan a project
News Commercial LinesInsuranceMarkets / CoveragesReinsuranceTechnology

Swiss Re plans to expand R&D capabilities to efficiently allocate capital into growing risk pools

December 2, 2016 by Canadian Underwriter

Swiss Re’s stronger focus on and investment in research and development (R&D) to identify risk pools, as well as its move to further leverage technology, seeks to meet the twin goals of facilitating enhanced client support and creating competitive advantage.

bonds-screenshot-web
Feature CatastrophesInsuranceMarkets / Coverages

Protective Cover

December 1, 2016 Sean van Zyl, Freelance Writer

The role of capital markets in alternative risk transfer within the property and casualty insurance industry is not new. However, the development of sophisticated financial instruments continues to expand, with resilience bonds being the latest arrival in the catastrophic risk market.

Storm Chasers at the Lighthouse
News CatastrophesInsuranceMarkets / CoveragesReinsurance

Extreme weather events can be modelled as “independent” by global reinsurers, Lloyd’s and Met Office study confirms

November 28, 2016 by Canadian Underwriter

Extreme weather events can be modelled as “independent” by global reinsurers when assessing many of their key aggregate risks around the world, confirmed a new report from Lloyd’s, the world’s only specialist insurance and reinsurance market, and the Met Office,

AppleMark
News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

PERILS AG almost doubles initial property loss estimate for Central Italy earthquake

November 24, 2016 by Canadian Underwriter

PERILS AG’s second loss estimate for insured property loss associated with Central Italy’s earthquake in August has almost doubled from 34 million euros to 66 million euros. The third loss estimate for the quake is scheduled to be published Feb.

flood-image-800
News CatastrophesInsurancePersonal LinesReinsuranceTechnology

Canadian Underwriter and Swiss Re team up for webinar on Canadian flood risk

November 23, 2016 by Canadian Underwriter

Canadian Underwriter and Swiss Re have teamed up to host a live webinar, titled The Road to Flood Resilience in Canada, reflecting on natural hazards throughout the country and what Canada can expect for the future. The free webinar, scheduled

Abstract financial background
News Commercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Real growth of direct premiums written in non-life insurance forecast at 1.7% for Canada in 2017 and 2.6% in 2018: Swiss Re

November 22, 2016 by Canadian Underwriter

Real growth of direct premiums written in non-life insurance in Canada is expected to be 0.8% this year, but up to 1.7% in 2017 and 2.6% in 2018, according to Swiss Re’s Global insurance review and outlook for 2017/18. The

Cracked road
News CatastrophesCommercial LinesConstructionInsurancePersonal LinesReinsurance

Preparing Canada for inevitable earthquake recognized as a national social and economic threat: IBC’s Forgeron

November 22, 2016 by Canadian Underwriter

Preparing Canada for an inevitable earthquake is a priority for the insurance industry, as this is recognized as a “national social and economic threat,” said Don Forgeron, president and CEO of the Insurance Bureau of Canada (IBC), in response to

Earthquake impact wave and seismic activity digital 3d background
News AssociationsCatastrophesClimate ChangeCommercial LinesConstructionEarnings / RatingsLegislation / RegulationPersonal LinesReinsurance

Federal government should consider emergency back-stop mechanism for catastrophic earthquake: conference board

November 22, 2016 by Canadian Underwriter

The Conference Board of Canada is echoing a recent recommendation by a former federal superintendent of financial institutions for Ottawa to consider adopting a last-resort, emergency back-stop mechanism for a catastrophic earthquake given the long-reaching, adverse effects that the event