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,…
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…
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…
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…
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…
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…
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…
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…
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…
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?
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…
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…