Canadian Underwriter

Topic
Reinsurance


Many hands putting together a jigsaw puzzle
News BrokersCatastrophesClimate ChangeCommercial LinesConstructionInsuranceMarkets / CoveragesMGAsReinsurance

Covering larger risks? Why subscriptions may be the way of the future

November 18, 2022 Philip Porado

As claims from Cat events and other external risks get larger, the simplest solution to cobbling together coverage might be a subscription approach that spreads risk and reduces individual insurers’ losses. “Subscribing the risk is better for the industry,” George

Concept of positive and negative
News BrokersCatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Has Canada’s P&C hard market finally stabilized?

November 14, 2022 by Jason Contant

Canada’s P&C insurance market remains vibrant but unpredictable, although there are signs of stabilization, a Gallagher executive said during an industry webinar Monday. A variety of push-and-pull factors related to underwriting profits, reinsurance rates, interest rates and claims inflation, labour

Palm trees in a hurricane
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / CoveragesReinsuranceRisk

How Cats will impact insurers’ and reinsurers’ pricing and investments

November 3, 2022 Philip Porado

Rising cleanup costs following catastrophic weather events mean P&C insurers and reinsurers may have to adjust what they cover, and how they invest, global financial markets watchdog Fitch Ratings says. As Canada braces for its third year in a row

Reinsurance financial results
News ClaimsInsuranceMarkets / CoveragesReinsurance

How inflation is factoring into reinsurance results

October 17, 2022 by Jason Contant

The first half of 2022 saw robust premium growth and generally strong underwriting results for global reinsurers, but inflation remains a wild card, according to the latest Aon’s Reinsurance Aggregate (ARA) report series from one of the world’s largest brokerages.

Business and technology concept. Communication network.
News BrokersInsuranceLegalLegislation / RegulationReinsuranceRisk

OSFI’s third-party guidance to include insurer-broker contracts

October 12, 2022 by David Gambrill

Canada’s solvency regulator is preparing guidance that legal experts say will shift the scope of the regulator’s concerns about outsourcing data and technology to a much broader inquiry about insurers’ arrangements with third parties generally — including with broker partners.

Oilfield flange in Alberta
News Climate ChangeInsuranceMarkets / CoveragesReinsurance

Munich Re to stop its backing for new oil and gas fields

October 11, 2022 The Associated Press

BERLIN (AP) – Munich Re, one of the world’s biggest insurance companies, said Thursday that it will stop backing new oil and gas fields beginning next April. The company said it will also no longer invest in or insure new

Mara Elieser, whose husband kept a boat docked nearby, takes photos at the destroyed bridge leading to Pine Island, in the aftermath of Hurricane Ian in Spring Hill, Fla., Sunday, Oct. 2, 2022. The only bridge to the island is heavily damaged so it can only be reached by boat or air. (AP Photo/Gerald Herbert)
News AdjustersCatastrophesClaimsClimate ChangeInsuranceReinsuranceRestorationRisk

How Hurricane Ian will strain insurers’ capacity

October 3, 2022 Philip Porado

Hurricane Ian’s Florida landfall last week and subsequent return to the Carolinas means it’s shaping up to be one of the costliest storms in U.S. history. But, while the storm that arrived on the heels of Hurricane Fiona caused massive

Flash in the pan
News BrokersCommercial LinesInsuranceMarkets / CoveragesMGAsReinsurance

How reinsurers view the rise of MGAs: a flash in the pan, or sustainable?

October 3, 2022 David Gambrill

Global reinsurers are looking at the current rise of managing general agencies (MGAs) with a critical eye, questioning whether the phenomenon will be long-lasting, or simply a fad rooted in a hard-market demand for capacity. “At the risk of sounding

Construction sites are coping with higher materials costs
News BrokersClaimsCommercial LinesConstructionInsuranceReinsurance

How a building owner should respond when a contractor’s hit by inflation

September 29, 2022 Derek Sayers

How can you prevent construction claims stemming from disputes over project costs that rise due to inflation? For construction project owners, the simplest way to control escalating costs may appear to be sticking to the contract price. The contractor bid

Injured woman who is using her disability insurance benefits
News BrokersCommercial LinesEmploymentInsuranceMarkets / CoveragesProductsReinsurance

How to use captives to manage employee benefits risks

September 28, 2022 Mauricio Suarez

By recent counts, more than 7,000 captive insurance companies exist globally, used primarily by multinational companies to take control of various risks. And yet, fewer than 200 of them are used to write employee benefits (EB) risks. Which means less

Illustration of a businessman holding a scale above his head with a house on one side and a bag of money on the other side
News BrokersClaimsClaims CanadaCommercial LinesInsuranceReinsurance

How to ensure your clients’ property values are accurate amid volatility

September 26, 2022 Alyssa Di Sabatino

Inaccurate property values were an industry-wide challenge in construction even before the pandemic brought economic volatility. So, how can you accurately quantify an insured’s risk when the pricing is so volatile? Clients are at risk of being underinsured when reported

Every cloud has a silver lining
News Commercial LinesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

How inflation can become a ‘silver lining’ for the insurance industry

September 15, 2022 Philip Porado

Interest rates will keep going up. But that won’t be entirely negative for the insurance industry, or the longer-term fundamentals of the broader economy, suggested a new Sigma report from Swiss Re. Its authors called for two fundamental changes on