Canadian Underwriter

Topic
Markets / Coverages


News Climate ChangeInsuranceMarkets / Coverages

Reinsurance renewal pricing for U.S. Atlantic hurricane risk predicted to drop after quiet season

December 5, 2013 by Canadian Underwriter

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

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Global economic growth to continue into 2014, emerging markets expected to drive premium growth: Swiss Re

November 28, 2013 by Canadian Underwriter

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

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Marsh reports slight decline of insurance rates in Q3, increase in Canada for cat-exposed property rates

November 25, 2013 by Canadian Underwriter

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

News InsuranceMarkets / Coverages

Rates up for much of U.S. construction industry in first half of year: Marsh

November 15, 2013 by Canadian Underwriter

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,

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

New Intact Insurance, belairdirect offering in Quebec links driving behaviour to auto insurance discounts

November 6, 2013 by Canadian Underwriter

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

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Almost 140 flood warnings, alerts still in effect after major Atlantic storm hits U.K.

October 28, 2013 by Canadian Underwriter

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

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Industry must make it clear to consumers that 15% auto premium reduction is an average, CEO says

October 25, 2013 Angela Stelmakowich, Editor

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.

News InsuranceMarkets / Coverages

Insurer CFOs report hardening P&C markets, survey says

October 22, 2013 by Canadian Underwriter

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

News Climate ChangeInsuranceMarkets / Coverages

Low natural peril loss in parts of Europe creating rating pressure in loss free territories: Willis Re

October 21, 2013 by Canadian Underwriter

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

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

B.C. regulator queries auto insurance provider on minimum capital test, rate increases

October 15, 2013 by Canadian Underwriter

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

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Driver behaviour awareness key as technology changes future of auto insurance

September 25, 2013 by Canadian Underwriter

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

Gord Enders
News AssociationsClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Alberta stakeholders say overhaul of residential property insurance needed

September 25, 2013 by Canadian Underwriter

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