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Insurers to discuss ‘Plan B’ for federal earthquake insurance backstop

April 23, 2024 by David Gambrill

Canada’s property and casualty insurers are starting to discuss a ‘Plan B’ for an earthquake backstop, given the federal government’s slow progress on establishing a national flood insurance program. Insurance Bureau of Canada president and CEO Celyeste Power talked about

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How reinsurers are sizing up Canada

February 15, 2024 by Alyssa DiSabatino

Reinsurers may start to view the great white north as an attractive market after the most recent Jan.1 2024 reinsurance renewal, one reinsurer shared at Cat IQ Connect in Toronto.  During the Renewals Season Recap discussion, moderator Donna Ince, senior

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Why you need to know the limits of your underwriting models

February 13, 2024 by Jason Contant

Vendors of underwriting models need to be transparent about the models’ limitations so underwriters and actuaries can understand where these limits could come into play, a speaker said last week at the CatIQ Connect conference in Toronto. Every single data

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When the national earthquake early warning system goes live

February 8, 2024 by Jason Contant

Canada’s national earthquake early warning system is expected to go live in British Columbia in April followed by Ontario and Quebec this fall, a program manager for the federal government told delegates at CatIQ Connect Wednesday. The system works by

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What needs to happen for a smooth 2025 reinsurance renewal season

February 7, 2024 by Alyssa DiSabatino

Momentum from this year’s favourable reinsurance renewal can continue into 2025 if outlying conditions and losses don’t exceed expectations, panellists said during Cat IQ Connect in Toronto.  Although it’s too early to make assertions about how the next 1.1 renewal

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News ClaimsClaims CanadaInsuranceMarkets / CoveragesReinsuranceRiskTechnology

Why systemic cyber remains an industry risk

January 30, 2024 by Jason Contant

Editor’s Note: An earlier version of this article said that CFC established the cyber monitoring centre when in fact they were the driving force behind its establishment. As well, the article implied that the centre has a link to insurance

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What Jan. 1 renewals wrought on the industry

January 3, 2024 by Alyssa DiSabatino

January 1 reinsurance renewals are behind us, and it seems a more stable, predictable property Cat market has materialized, just as industry experts predicted.  In Canada, reinsurance renewal pricing varied broadly by buyer, based on overall performance, Gallagher Re in

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How Canada’s wildfire season will shape reinsurance renewals

November 28, 2023 by Alyssa DiSabatino

Reinsurers have their ears to the ground on climate change losses, and Canada’s record wildfire season is adding to the heat, according to industry experts.   But while reinsurers are keeping a close watch on wildfire risk, tallied wildfire losses

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What carriers can expect for reinsurance renewals

November 22, 2023 by Alyssa DiSabatino

Primary insurance carriers can expect for the most part flat to high single-digit premium increases during Jan. 1, 2024, reinsurance renewals, Matt Wolfe, Aon Canada’s president and CEO of Reinsurance Solutions tells Canadian Underwriter.  It’s a far cry from the

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Is it time for a new reinsurer to enter the market?

October 25, 2023 by Jason Contant

Canada’s hard market in reinsurance has some execs wondering if the time is ripe for a new reinsurer to enter the Canadian market. Until Jan. 1, 2023 renewal season, Aon Reinsurance Solutions president and CEO Matt Wolfe said he never

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What P&C execs predict for 2024 reinsurance rates

October 24, 2023 by David Gambrill

Canada’s primary property and casualty insurers expect the upcoming Jan. 1, 2024, reinsurance renewal season to be more ‘orderly’ and ‘stable’ than at the same time last year, P&C industry execs told brokers attending last week’s Insurance Brokers Association of

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Which commercial line needs more capital?

October 16, 2023 by Jason Contant

Even though the cyber insurance market is in a much better place now than a few years ago, it still needs an injection of capital to keep up with burgeoning demand, a speaker said during an industry event earlier this