Topic
Markets / Coverages
Eight (re)insurers join forces for marine cat model
April 1, 2016 by Canadian UnderwriterSompo Canopius AG, a global specialty lines platform of Sompo Japan Nipponkoa Holdings Inc., announced on Thursday that it has partnered with catastrophe modelling marketing firm Risk Management Solutions (RMS) and six other (re)insurers for the specification and build of…
Construction contractors who subcontract design work could take on more E&O liability risk: Chubb
March 31, 2016 by Greg MeckbachConstruction contractors involved in design-build projects take on additional professional liability exposure, while building information modelling software and employees storing data on wireless mobile devices can create cyber liability exposure, Chubb Ltd. suggests in a paper released Thursday. “Under the…
Technology playing ever larger role in U.S. specialty lines carriers’ ability to attract and retain clients: Novarica
March 30, 2016 by Canadian UnderwriterSpecialty lines in the United States continue to be hypercompetitive, with technology playing an ever larger role in insurers’ ability to attract, retain and serve clients and brokers (agents) profitably, according to a new report from Novarica. The Business and…
IBAO president anticipates ‘bright future for brokers who are willing to change’
March 29, 2016 Greg Meckbach, Associate EditorThe insurance industry may not be known for technological innovation, but there is a future for brokers who are willing to change, speakers said Tuesday during the annual general meeting of the Insurance Brokers of Toronto Region. “The only thing…
Auto insurers face long-term challenges from self-driving cars; avoidance technologies to benefit insurers: Moody’s
March 29, 2016 by Canadian UnderwriterSelf-driving cars could translate into significantly lower premiums and profits in the long-term for auto insurers as the number of accidents declines dramatically, Moody’s Investors Service said on Tuesday. A new report from Moody’s – titled P&C Insurance – Global:…
Global insurance industry saw significant increases in distribution, M&A in 2015, Conning says
March 29, 2016 by Canadian UnderwriterThe global insurance industry saw significant increases in both insurance distribution and insurance services mergers and acquisitions in 2015, according to a new report. Global Insurance Distribution & Services Sector Mergers & Acquisitions: Building for the Future was released on…
ISO introduces drone insurance coverage options for commercial inland marine market
March 28, 2016 by Canadian UnderwriterISO announced on Monday that it is preparing for the “potential rise and fall of commercial drones” with new inland marine insurance forms to help protect businesses from the costs of such potential crashes, including damage to the drones, their…
Cyber risk, interest rates, economy remain major concerns for insurers: A.M. Best
March 28, 2016 by Canadian UnderwriterConcerns regarding cyber risk, interest rates and the economy remain prominent among insurers, according to the latest quarterly survey from A.M. Best Company. The Best’s Special Report, released on Thursday, included several hundred responses, representing property and casualty (70.4%), life…
Brussels bombings show trend to target public transportation infrastructure: RMS
March 28, 2016 by Canadian UnderwriterThe terrorism bomb blasts last week in Brussels “are a somber reminder of the difficulty of preventing attacks against transportation infrastructure such as airports and metro or bus stations,” notes catastrophe risk modelling company Risk Management Solutions (RMS). “As security…
Emmanuel Clarke appointed CEO of PartnerRe
March 24, 2016 by Canadian UnderwriterSix days after the completion of its US$6.9-billion takeover by EXOR S.p.A., PartnerRe Ltd. announced Thursday its new chief executive officer is Emmanuel Clarke, a 46-year-old French national who was president of PartnerRe, a Pembroke, Bermuda-based reinsurer and commercial insurance…
Link between oil price reduction, increase in major incidents: Marsh
March 24, 2016 by Canadian UnderwriterEnergy firms are facing challenges, including falling revenues, but are encouraged to maintain their investment in risk management to reduce the potential for future major incidents and insurance claims, suggests a new research report from global insurance broker and risk…
Catastrophe bond coverage hits US$23.5 billion year-end high: Aon Securities
September 10, 2015 by Canadian UnderwriterAon Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, has announced that in the 12 months to June 30, there was a record number of catastrophe bonds on risk – US$23.5 billion. On Thursday,…