The lack of a major U.S. Atlantic hurricane as of Nov. 30 will lead to a “low double-digit price drop” of related reinsurance in the January renewal, while pricing in some reinsurance lines covering Canadian catastrophes will likely rise, predicts…
The momentum in global economic growth achieved this year will continue into 2014, with emerging markets expected to drive premium growth and alternative capital remaining focused on transparent, well-modelled natural catastrophe business, notes Swiss Re’s Global insurance review 2013 and…
Overall insurance rates fell during the third quarter of 2013, though rates in Canada increased for catastrophe-exposed property risks and for directors and officers liability, suggests a new report from brokerage and risk management firm Marsh Ltd. New York City-based…
Construction firms in the United States paid, on average, more for their insurance in the first half of the year, according to a new report from Marsh. Renewal rates for contractors general liability, project-specific general liability, umbrella and excess liability,…
Driving behaviour will serve as the basis for auto insurance premium savings of as much as 25% for select drivers in Quebec as part of a new offering announced Wednesday by Intact Financial Corporation. In the weeks to come, Intact…
A total of 139 flood warnings or alerts remained in place Monday morning in the United Kingdom as a major Atlantic storm, bringing with it strong winds and rainfall, continued to make its way through the U.K. There were a…
IBAO Convention 2013 – It is essential to remember the 15% auto insurance rate reduction recently mandated by the Ontario government is an average – meaning not all consumers, regions or companies will be affected in precisely the same way.…
Chief financial officers with North American property and casualty insurers believe both those markets are hardening, according to a new survey by professional services firm Towers Watson. Of the 23 CFOs who participated in the survey, 75% characterized the property…
Increased capacity, competition and changing market dynamics have created a buyer’s market for European cedants, notes Willis Re, which expects that loss free rates will likely be down 5% to 10% at January 2014 renewals. A combination of market conditions and…
The British Columbia Utilities Commission is asking the provincial government’s auto insurance carrier to provide clarification on its claims cost management initiatives and whether B.C.’s compulsory basic public auto plan can meet the minimum capital test without more money from…
NICC 2013 – As vehicle and road technology evolves and becomes mainstream, the insurance industry can encourage consumers to use those tools to become better drivers, according to some industry experts. Barriers to more automation in vehicles, up to the…
Changes need to be made to the current property insurance product for it to be sustainable, especially in the wake of major flooding in Alberta, several industry participants agreed during a recent event held by the Insurance Brokers Association of…