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Reinsurance


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Why even cyber policies might not cover cyber losses

December 13, 2019 by Jason Contant

Policies that don’t specifically include or exclude cyber losses (“silent cyber”) have long been a concern of insurers, but you’d think a data breach loss would be covered by a cyber policy, right? Not always. The devil is sometimes in

Feature Climate ChangeMarkets / CoveragesReinsurance

Turning off the taps

December 7, 2019 Greg Meckbach, Associate Editor

Global insurers are starting to withdraw from providing insurance coverage to the oil sands, which accounts for about two-thirds of Canadian oil production. What this means for your clients in the oil and gas sector…

News LegalLegislation / RegulationReinsurance

When OSFI will talk to industry about draft reinsurance rules

November 29, 2019 by Greg Meckbach

The federal insurance regulator – silent during the election campaign on proposed changes to reinsurance – plans to talk to the industry after the holidays, a senior official with the federal Office of the Superintendent of Financial Institutions (OSFI) said

Feature AdjustersCatastrophesClaims CanadaReinsurance

Heat Map

November 3, 2019 Greg Meckbach, Associate Editor

Reinsurers bore a large portion of the Fort McMurray wildfire losses. Now, they want better data on Canada’s high-risk areas

Feature Reinsurance

OSFI’s ticking time bomb

November 1, 2019 David Gambrill, Editor in Chief

Canada’s solvency regulator and the property and casualty insurance industry are working to defuse a potentially explosive situation – one that could
see global reinsurance capital fleeing from Canada. What will be the outcome of this ticking regulatory time bomb?

News InsuranceLegislation / RegulationReinsurance

OSFI, industry step back from the brink on proposed new reinsurance rules

October 29, 2019 by David Gambrill

It appears that there has been a proverbial “last-minute call from the governor” regarding controversial new rules proposed by Canada’s solvency regulator as part of its reinsurance review. The Office of the Superintendent of Financial Institutions (OSFI) has made it

News Climate ChangeInsuranceReinsurance

Large reinsurer to stop writing oil sands business: Memo

October 15, 2019 by Greg Meckbach

Concerns about climate change from human-produced greenhouse gas emissions may have prompted the world’s largest property and casualty reinsurer to stop writing some business for oil sands sites, according to an unverified document obtained by Canadian Underwriter. Facultative reinsurance covers

News InsuranceReinsurance

How reinsurers benefit from the market turn

October 9, 2019 by Jason Contant

With primary insurance companies seeking higher rates since the beginning of the year, proportional reinsurance programs are benefiting directly from these rate improvements, Joseph El-Sayegh, president and CEO of SCOR Canada Reinsurance Company, told Canadian Underwriter Wednesday. In proportional reinsurance,

News InsuranceReinsurance

Twenty more years of low interest rates? What that and a recession will mean for Canadian P&C insurers

October 4, 2019 by David Gambrill

If P&C insurers are looking to use their investment returns to offset inadequate pricing strategies, Swiss Re has a chilling prediction for them – low interest rates could be with us for another 20 years or longer. Jerome Jean Haegeli,

News InsuranceReinsurance

What concerns the Ontario regulator about OSFI’s proposed reinsurance guidelines

October 3, 2019 by Jason Contant

The CEO of Ontario’s new regulator expressed concern Tuesday about the extent to which the P&C insurance industry says it will be required to provide more capital to comply with the proposed new reinsurance guidelines of Canada’s solvency regulator. The

News InsuranceReinsuranceRisk

$30-billion sticker shock for OSFI’s proposed reinsurance rules

September 24, 2019 by David Gambrill

Canada’s property and casualty industry would have to post an additional $21 billion to $30 billion in capital to insure Canadian risks if the country’s solvency regulator moves forward with proposed new rules as currently drafted, the industry warns. On

News InsuranceReinsurance

Where Canada’s resilience to economic shock ranks globally

September 10, 2019 by Jason Contant

The global economy now has less capacity to absorb a shock than it did in 2007 (pre-global recession), but Canada is faring well – it is the second-most economic resilient country in world, according to the Swiss Re Institute. In