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Lower pricing, broader coverage for clients at Jan. 1 renewals: Guy Carpenter

January 7, 2015 by Canadian Underwriter

New capital inflows, excess capacity and lower catastrophe losses are driving competition and innovation across the reinsurance industry, which saw pricing fall in many segments at Jan. 1 renewals, notes a new report issued Wednesday by Guy Carpenter & Company,

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Ratings outlook for global reinsurance sector remains negative: A.M. Best

January 6, 2015 by Canadian Underwriter

Significant ongoing market challenges that will hinder the potential for positive rating actions over time, and may translate into negative rating pressures, have contributed to A.M. Best maintaining its negative outlook for the global reinsurance sector. Having revised its rating

News Climate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

U.K. agreement to help make flood insurance affordable in high-risk areas

December 22, 2014 by Canadian Underwriter

The United Kingdom government – in the wake of ongoing negotiations with the Association of British Insurers (ABI) and Flood Re – announced last Thursday that an agreement has been reached on a number of matters regarding how Flood Re

News CatastrophesClimate ChangeInsuranceMarkets / Coverages

ILS issuance at record level amid new highs in collateralized reinsurance capital: Aon

December 16, 2014 by Canadian Underwriter

The pricing of the latest offering from Nakama Re Ltd. has brought annual insurance-linked securities (ILS) issuance to a record level, with total property catastrophe bond issuance for 2014 reaching US$8.03 billion, notes global reinsurance intermediary and capital advisor Aon

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Recent Ontario auto insurance reforms could impact whole Canadian P&C market: A.M. Best

December 11, 2014 by Canadian Underwriter

What else happens with Ontario auto insurance in the wake of recently passed reforms meant to combat fraud and protect consumers could influence the Canadian property and casualty market as a whole, as well as have very different effects on

News Climate ChangeInsuranceMarkets / Coverages

Insurers must get proactive in 2015 when facing regulatory, pricing challenges

December 10, 2014 by Canadian Underwriter

Despite strong performance this year, insurers operating in the United States are facing an uncertain environment going into 2015 and will need to be proactive when facing regulatory and capital management challenges, according to a new outlook report from Ernst

News InsuranceMarkets / Coverages

U.S. commercial insurance prices up 3% in third quarter

December 9, 2014 by Canadian Underwriter

Commercial insurance prices in the United States continued a familiar trend in the third quarter of the year, with price changes – up 3% in aggregate over the same quarter in 2013 – at almost the same level as Q2

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Tow truck drivers slow down Toronto commute to protest new auto insurance law

December 9, 2014 THE CANADIAN PRESS

TORONTO – Tow truck drivers are slowing down the commute in the Toronto area today, as an estimated 1,500 of them head to Ontario’s legislature to protest a new auto insurance law. The drivers are making their way to Queen’s

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Auto insurance rate increase approved in Manitoba

December 5, 2014 THE CANADIAN PRESS

WINNIPEG – Drivers in Manitoba are going to be paying more to insure their vehicles. The Public Utilities Board has approved a 3.4 per cent increase in compulsory premiumseffective March 1. The board says basic insurance has seen combined losses

Feature Markets / CoveragesMergers and Aqcuisitions

Options Abound

December 1, 2014 by Canadian Underwriter

The year ahead for property and casualty insurance in Canada feels a bit like a mix of hard facts and wishful thinking. With change the only constant, is the market signalling how best to match opportunity and risk? Will the industry come up with a pleasing palette – satisfying to its customers – or do ongoing challenges threaten to produce a total mismatch?

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

New brokerage focused on telematics in Ontario, Alberta

November 27, 2014 by Canadian Underwriter

Calgary-based brokerage Godfrey-Morrow Insurance has launched InsureMy, a new brokerage and website focused particularly on auto insurance telematics products in Ontario and Alberta. InsureMy is currently set up to offer Intact’s telematics program to Ontario auto insurance customers. It is

News InsuranceMarkets / Coverages

New privacy/network security product tailored for Canadian market

November 26, 2014 by Canadian Underwriter

Allied World North America has launched privacy and network security insurance specifically designed for small to mid-size companies in the Canadian market, the company announced Tuesday. “Privacy//101” is intended for small and medium-sized enterprises – such as law firms, healthcare facilities