Canadian Underwriter

Topic
Reinsurance

News InsuranceLegislation / RegulationReinsurance

The downside of being an insurtech trailblazer

June 18, 2018 by Greg Meckbach

The spectre of a Netflix-esque disruption of the property and casualty insurance sector is producing mixed reaction among Canadian executives. The Canadian P&C sector “may be” disrupted in a manner similar to how Netflix disrupted the movie rental industry or

News InsuranceMarkets / CoveragesReinsurance

Government-backed home flood insurance coming to Canada?

June 3, 2018 by Greg Meckbach

Federal government officials are pondering a flood insurance system similar to Britain’s two-year old Flood Re, an Insurance Bureau of Canada official suggested Thursday. Federal public safety minister Ralph Goodale “asked IBC to lead a working that will deliver recommendations

Feature ClaimsReinsurance

What’s New in Nuclear Claims Handling

June 3, 2018 David Gambrill, Editor-in-Chief

A pool of Canadian nuclear insurers has created a state-of-the-art, made-in-Canada claims administration system for handling nuclear incidents.

News InsuranceReinsurance

Why open reinsurance markets are best for Canada

April 30, 2018 by Greg Meckbach

With the lion’s share of Canadian insurers’ reinsurance coming from outside of Canada, protectionism in the insurance space would not be good for consumers, a lawyer told Canadian Underwriter last week. Some nations – including Thailand, India, China – have

News CatastrophesClaimsInsuranceReinsurance

Ontario ice storm catches the eye of global reinsurance brokerage

April 20, 2018 by Greg Meckbach

Severe weather earlier this week in Ontario has caught the attention of reinsurance providers. Impact Forecasting LLC, a unit of reinsurance brokerage Aon Benfield, noted Friday that winter weather starting April 13 “left considerable damage across southern sections of Canada’s

News InsuranceMarkets / CoveragesReinsuranceTechnology

New opportunities for commercial brokers in cyber

April 20, 2018 by Greg Meckbach

Brokers selling commercial insurance need to ask clients what they use their computers for and what happens if they lose access to that data, an executive with a Bermuda insurer says. Computer security (also known as cyber) risk, “will impact

News Climate ChangeInsuranceReinsurance

Why brokers may have fewer home flood wordings to choose from

April 11, 2018 by Greg Meckbach

The lack of standard wording for home overland flood insurance is not a bad thing, but Canadian brokers might soon have fewer wordings from which to choose, the head of Swiss Re Canada suggests. Overland flood coverage was generally unavailable

News CatastrophesClaimsClimate ChangeInsuranceReinsurance

Industry understanding of wildfire risk needs improvement: CEO

April 10, 2018 by Greg Meckbach

The property and casualty insurance industry needs to get a better understanding of wildfire risk in Canada because we will experience more disasters like Fort McMurray in the future, a reinsurance company executive warned Monday. “We think [the industry] needs

News AnnouncementsInsuranceLegislation / RegulationPaidReinsurance

Paid The top 5 questions you must ask about #IFRS17

April 4, 2018 BDO

IFRS 17, Insurance Contracts was published in May 2017 and is the most significant change to financial reporting for insurance companies in Canada in decades, not only in the measurement of insurance assets and liabilities, but in how insurance contracts

News CatastrophesInsuranceLegalReinsurance

Arbitration glitch sidetracks $147-million Fort Mac reinsurance dispute

March 21, 2018 by David Gambrill

A $147-million reinsurance dispute involving Fort McMurray wildfire claims got off to a rocky start because the insurer and its reinsurers could not initially agree on the method of arbitration. At the heart of the matter was a broad reference

News CatastrophesReinsurance

Munich Re not saying how many Canadian jobs may be cut as part of worldwide staff reductions

March 19, 2018 by Greg Meckbach

Munich Re, which spent over $4 billion in 2017 for three hurricanes alone, is not saying how many jobs – if any – it is cutting in Canada. Published reports Thursday quoted Munich Re officials as saying the German reinsurer

News InsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

XL Catlin Canada part of AXA’s $15.3-billion acquisition of XL Group

March 5, 2018 by David Gambrill

The AXA Group, based in France, has entered into a $15.3-billion agreement to acquire 100% of XL Group Ltd., which includes Canadian subsidiary XL Catlin Canada. The merger agreement, expected to close in the second half of 2018, has been