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Global reinsurance loss ratio up 7.1 points in first six months of 2016: A.M. Best

September 7, 2016 by Canadian Underwriter

The loss ratio in the global reinsurance market was two points higher during the first six months of this year than the five-year average, while in 2015, Paris-based SCOR SE overtook Omaha, Neb.-based Berkshire Hathaway in A.M. Best Company Inc.’s

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Flash estimate for insured losses from Hurricane Hermine US$500 million: KCC

September 6, 2016 by Canadian Underwriter

The current flash estimate of insured losses associated with Hurricane Hermine – likely to produce in excess of 50,000 claims – approaches US$500 million, with total economic damages almost US$1 billion, Karen Clark & Company (KCC) reported Friday. “The storm

Feature CatastrophesEarnings / RatingsReinsurance

Looking Ahead

September 2, 2016 Greg Meckbach, Associate Editor

With property and casualty reinsurance prices showing few signs that downward pressure is ending any time soon, traditional reinsurance looks to be a real bargain for carriers hoping to protect their balance sheets and prepare themselves for future catastrophes. Forward-looking carriers are also recognizing that cost-effective reinsurance can help secure their future profitability.

News CatastrophesInsuranceLegalMergers and AqcuisitionsReinsurance

Reinsurance disputes and CBI exposures possible after North American wildfires and Louisiana floods: CMS lawyer

September 2, 2016 by Canadian Underwriter

A year of fire and floods in North America could lead to a repeat of 2007, when reinsurance disputes emerged over causation issues, a lawyer with global law firm CMS said on Friday. Alex Denslow, a partner with the Insurance

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Fort McMurray wildfire accounts for 98% of H1 insured cat losses in Canada, 29% of PCS-designated North American losses

August 31, 2016 by Canadian Underwriter

The Fort McMurray wildfire accounted for 98% of first-half insured catastrophe losses in Canada and 29% of Property Claim Services (PCS)-designated North American cat losses for the period, according to a preliminary estimate from the company. Insurers affected by the

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

North American P&C insurers’ operating profitability declines in first half of 2016: Fitch

August 29, 2016 by Canadian Underwriter

North American property and casualty insurers’ operating earnings decreased in the first half of 2016, as results were challenged by modest underwriting deterioration and low investment yields, according to a new report released on Friday by Fitch Ratings. For a

News CatastrophesConstructionInsuranceMergers and AqcuisitionsReinsurance

“Limited impact” expected for Italian insurers following earthquake: Fitch

August 29, 2016 by Canadian Underwriter

The impact on Italian insurers from the earthquake that struck the central part of the country is likely to be limited, ratings firm Fitch Ratings said on Friday. Fitch Ratings estimates insured losses of 100 million to 200 million euros,

Angela Stelmakowich, Editor
Feature InsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

Over There, Over Here

August 26, 2016 Angela Stelmakowich, Editor

It would be folly to think that political risk is something that only happens “over there.” The effects over here can be just as damaging. That the number of such incidents may not be as high as has traditionally been

News CatastrophesConstructionInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Recent earthquakes a reminder that events can happen anywhere: I.I.I.

August 26, 2016 by Canadian Underwriter

The recent earthquakes in Italy and Myanmar are a warning to homeowners and business owners in regions that may also be at risk to consider purchasing earthquake insurance, notes the Insurance Information Institute (I.I.I.). Just 10% of homeowners in the U.S. have

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Saturated ground means more rain could spur more flooding in southern Louisiana: AIR Worldwide

August 25, 2016 by Canadian Underwriter

Additional rainfall could result in more flooding in southern Louisiana, already hit hard by extensive flooding associated with one of the state’s most catastrophic, non-tropical cyclone-triggered flood events in decades. “In the event of further rainfall, the region’s flat topography,

News CatastrophesConstructionInsuranceMergers and AqcuisitionsReinsurance

Low-quality cement, inadequate supporting rods among issues in Italian region hit by earthquake: Aon

August 24, 2016 by Canadian Underwriter

The region of Italy hit by an earthquake early Wednesday morning, which killed at least 65, has buildings with “inadequate supporting iron rods” and a “relatively low” penetration of earthquake insurance for residential property, Aon plc’s Impact Forecasting LLC subsidiary

News CatastrophesReinsurance

FEMA approves $107 million in grants in Louisiana flooding

August 24, 2016 Melinda Deslatte - THE ASSOCIATED PRESS

BATON ROUGE, La. — Heavy trucks and their works crews have begun hauling away mounds of mouldy carpet, warped flooring and water-damaged furniture as south Louisiana digs out from flooding the governor estimated Tuesday had wrecked more than 100,000 homes.