Canadian Underwriter

Segment
Reinsurance


News CatastrophesInsuranceReinsuranceTechnology

Data-driven methodology allows (re)insurers to identify liability risk exposure across entire portfolios

March 16, 2017 by Canadian Underwriter

Lloyd’s reports that a partnership with modelling company Arium has produced a data-driven methodology that will allow (re)insurers to model liability risk exposure probabilistically across entire portfolios. The approach – the result of a three-year project between Lloyd’s and Arium

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsuranceTechnology

Munich Re operating result down in 2016 from 2015, new partnerships could answer changing client demands

March 16, 2017 by Canadian Underwriter

Munich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in

News AssociationsCatastrophesClimate ChangeInsuranceReinsurance

IBC supports regional platform for disaster risk reduction outcomes, vows to continue working with government

March 15, 2017 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s continued support for efforts by the federal government to enhance disaster risk reduction and make communities more resilient. “Our industry remains committed to being a full partner with

News Catastrophes

U.S. northeast winter storm grounds more than 5,000 flights

March 14, 2017 Deepti Hajela - THE ASSOCIATED PRESS

NEW YORK – A storm expected to drop more than a foot of snow pounded the United States Northeast on Tuesday, paralyzing much of the Washington-to-Boston corridor after a remarkably mild February had lulled people into thinking the worst of

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Largest single loss for Hannover Re in 2016 was the Fort McMurray wildfire, with net cost of 127.9 million euros

March 10, 2017 by Canadian Underwriter

The largest single loss for Hannover Re last year was the Fort McMurray wildfire, with a “net strain” of 127.9 million euros, the reinsurer reported on Thursday. Hannover Re released its financial results on Thursday, reporting a Group net income

News AssociationsCommercial LinesInsurancePersonal LinesReinsuranceTechnology

ATB Financial joins R3 distributed ledger consortium

March 10, 2017 by Canadian Underwriter

ATB Financial announced Thursday that the Alberta-based financial services provider has joined the consortium of financial innovation firm R3 to design and apply distributed and shared ledger-inspired technologies to global financial markets. The company will be collaborating with more than

News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

Outbreak of severe convective storms across U.S. Midwest causing widespread damage in Missouri, Iowa and Minnesota: RMS

March 9, 2017 by Canadian Underwriter

As of March 8, cumulative preliminary tornado, hail and straight-line wind reports in the United States for the year have all been more than double their respective 2005-2015 averages, according to the records of the National Oceanic and Atmospheric Administration’s

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Flood insurance reform bill re-tabled in U.S. congress

March 8, 2017 by Canadian Underwriter

A bill aimed at increasing participation by the private sector in the flood insurance market in the United States was tabled Wednesday in the House of Representatives, a U.S. congressman from Florida announced. The Flood Insurance Market Parity and Modernization

Feature CatastrophesPersonal Lines

Split Personality

March 2, 2017 Angela Stelmakowich, Editor

Can earthquakes be damaging? Yes. Would a severe quake have an adverse impact on
government, the economy, home and business owners and Canada’s property and casualty insurance industry? Perhaps. So, has everyone taken steps to ensure they have coverage? No.

News CatastrophesInsuranceLegalReinsuranceTechnology

Companies can come to grips with cyber risk, government back-stop may be needed for certain risks: Swiss Re

March 1, 2017 by Canadian Underwriter

Concern about cyber resilience is on the rise – as are the potential costs associated with attacks – but insurers and companies should understand steps can be taken to manage the risk, suggests the latest sigma report from Swiss Re

Feature Legal

Charting a New Course

March 1, 2017 Brian Reeve, Partner, Cassels Brock & Blackwell LLP

The regulatory regime for reinsurance has become more ambiguous and complicated in Canada. The federal regulator needs to chart a course that strikes a balance between the protection of Canadian policyholders and ensuring a competitive insurance market exists in Canada capable of operating in

Feature CatastrophesClimate Change

Weather-Proofed

March 1, 2017 Angela Stelmakowich, Editor

Community resilience looks to be taking a big step forward with the recent announcement that National Research Council Canada (NRCC) will take into account climate change as part of regular updates to the country’s building codes. The NRCC will conduct