Topic
Catastrophes
Aon Benfield announces enhanced U.S. flood model to assess 1.4 million miles of rivers for potential losses
October 27, 2015 by Canadian UnderwriterImpact Forecasting, Aon Benfield’s catastrophe model development team, announced on Tuesday that it has enhanced its United States riverine flood model to more precisely quantify flood risk at a much higher resolution. Aon Benfield launched the enhanced model at the…
2015 insured losses from wildfires in the U.S. may total US$1.75 billion: Guy Carpenter
October 27, 2015 by Canadian UnderwriterGuy Carpenter & Company, LLC, a global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Companies, has said that preliminary data indicates that 2015 insured losses from wildfires in the United States “may approach or exceed…
Combined ratio up 3.3 points, premiums up 1.65% for Everest Re
October 27, 2015 by Canadian UnderwriterEverest Re Group Ltd., whose products include reinsurance worldwide and liability coverage in Canada for sports and leisure firms, reported Monday a 1.65% increase in third-quarter premiums earned while its combined ratio deteriorated 3.3 points. Hamilton, Bermuda-based Everest Re released…
Alberta moving to protect communities in and upstream of Calgary from severe flooding
October 27, 2015 by Canadian UnderwriterThe Government of Alberta has committed to funding flood protection measures along the Bow and Elbow Rivers to help prevent a repeat of the damage and devastation experienced in parts of Calgary and upstream communities during the severe flooding in…
Drenching storms easing as Texas takes stock of biggest deluge since deadly May flooding
October 26, 2015 Paul J. Weber - THE ASSOCIATED PRESSAUSTIN, Texas – Relentless showers soaking Texas began finally clearing Sunday as dangerous flood warnings expired and the remnants of Hurricane Patricia continued dissolving into a steady but manageable drizzle. More than a foot (30 centimetres) of rain has drenched…
Insurance Brokers Association of Canada prepared to share flood principles document in November
October 26, 2015 Greg Meckbach, Associate EditorThe Insurance Brokers Association of Canada will be “prepared” next month to share a flood principles document, approved in Quebec City at IBAC’s meeting last month, the association’s president told Ontario brokers recently. During the annual members’ general meeting of…
Intact Insurance to launch revised water peril product in 2016
October 26, 2015 Jason Contant, Online EditorIntact Insurance will launch a revised water peril product next year, the company’s president said last week at the Insurance Brokers Association of Ontario’s (IBAO) 2015 convention in Toronto. Jean-François Blais made the announcement during the CEO Panel at the…
Patricia-related insured losses to onshore properties in Mexico estimated not to exceed US$200 million
October 26, 2015 by Canadian UnderwriterOnshore properties in Mexico escaped major damage when Hurricane Patricia made landfall, with catastrophe modelling firm AIR Worldwide estimating Sunday that insured losses to those properties will not exceed US$200 million. When at its height earlier, the National Hurricane Center…
Jackson, Mississippi ranked as windiest U.S. city in new CoreLogic data
October 23, 2015 by Canadian UnderwriterJackson, Mississippi is the windiest city in the United States, recording a maximum wind speed of 99 miles per hour (about 159 kilometres per hour) and 153 separate wind events over a nine-year period, according to new data released on…
Tianjin explosions contribute to Allied World’s net loss for 2015 Q3
October 23, 2015 by Canadian UnderwriterAllied World Assurance Company Holdings, AG this week reported a net loss of US$51.6 million for 2015 Q3 compared to net income of US$30.9 million in 2014 Q3, partly driven by catastrophe and investment losses. “Net income for the quarter…
Q3 cat bond issuance down 19%: Willis report
October 22, 2015 by Canadian UnderwriterCatastrophe bond issuance for the third quarter of 2015 was roughly double that of Q3 2014, though year-to-date issuance was down 19% year over year, Willis Capital Markets and Advisory (WCMA) said in a recent report. In its insurance-linked securities…
Travelers’ record NWP in 2015 Q3 over prior year quarter helps net income increase to US$928 million
October 22, 2015 by Canadian UnderwriterRecord net written premiums (NWP) for The Travelers Companies, Inc. in the third quarter of 2015 helped buoy the company’s net income the quarter, which reached US$928 million compared to US$919 million in the same period of 2014. The 1%…