Topic
Reinsurance
Executive challenges brokers regarding earthquake take-up rates in Quebec
February 8, 2019 by Jason ContantSparks flew during a recent conference discussion about mortgage impairment and earthquake loss, when a senior reinsurance company executive drew a link between the practices of Quebec brokers and the low take-up rates of earthquake insurance in the province. Philipp…
Hard market? Not so fast.
January 16, 2019 by Jason ContantThe Canadian insurance industry is not at the beginning of a hard market, says Phil Cook, a P&C industry consultant and CEO of Omega Insurance Holdings. “There are some commentators out there that will say we are at the beginning…
What could drive reinsurers away from some markets
December 10, 2018 by Greg MeckbachReinsurance is extremely important but could get too expensive in certain areas, industry leaders said at a recent event. Some insurance companies today are “dialing up their reinsurance protection – property and cat risk in particular in the United States,”…
Why A.M. Best gave the global reinsurance segment a ‘stable’ outlook
December 6, 2018 by David GambrillCORRECTION: An earlier version of this story incorrectly stated that A.M. Best had changed its outlook for the global reinsurance sector from ‘Stable’ to ‘Negative.’ In fact, the outlook changed to ‘Stable’ from ‘Negative.’ Canadian Underwriter apologizes for the error.…
What’s making wildfires more severe?
November 12, 2018 By Seth Borenstein - THE ASSOCIATED PRESSWASHINGTON – Both nature and humans share blame for California’s devastating wildfires, but forest management did not play a major role, despite President Donald Trump’s claims, fire scientists say. Nature provides the dangerous winds that have whipped the fires, and…
How blockchain can help fight insurance fraud
September 24, 2018 by Jason ContantBlockchain for insurance has various oft-touted benefits – reduced costs and simpler and faster transactions, among them – but it can also be used to combat fraud, said David Verbeeten, a domain expert in insurance at software company ConsenSys. Verbeeten…
Will Hurricane Florence affect reinsurance rates in Canada?
September 12, 2018 by Jason ContantAs the southeastern United States braces for Hurricane Florence – one year after Hurricanes Harvey, Irma and Maria caused widespread destruction in the country – the question of whether there is sufficient reinsurance capacity is again thrust into the spotlight.…
This reinsurer says rates need to go up
September 10, 2018 by Jason ContantUnderwriting margins will need to improve by at least six to nine points in major western markets to deliver sustainable returns, according to the latest sigma report from global reinsurer Swiss Re. The report Profitability in non-life insurance: mind the…
Aspen Insurance agrees to be taken private
September 1, 2018 by Greg MeckbachAspen Insurance Holdings Ltd., which writes risks in Canada, has tentatively agreed to be bought for US$2.6 billion. If the deal closes, Hamilton, Bermuda-based Aspen will be owned by private equity firm Apollo Global Management LLC of New York City.…
Major consolidation this year in reinsurance industry?
July 31, 2018 by Greg MeckbachMergers and acquisitions will likely be a topic of discussion for mid-market reinsurers, executives with a large European reinsurer suggest. Efforts by large reinsurers to improve productivity will put “more pressure” on mid-sized and smaller reinsurers “to have this strategic…
The trick to getting blockchain to work for insurance
July 30, 2018 by Jason ContantThe trick to getting blockchain to work in the insurance space is getting all the players in the market to align and agree on common standards and a way to govern the blockchain, Aon Benfield’s chief information officer said Friday.…
Cyber criminal interest in electrical utilities on the rise
July 16, 2018 by Greg MeckbachElectrical and utility firms in North America continue to be a target for cyber criminals, the head of a cyber loss modelling provider suggests. Over the past few months, there has been an “uptick in threat actor activity around energy…