Canadian Underwriter

Topic
Reinsurance


A person uses a stylus on their laptop to draw a bar graph showing a year by year increase
News ClaimsInsuranceReinsurance

Which claims trends are worth watching in 2022?

July 19, 2022 by Alyssa DiSabatino

The number of contingent business interruption (CBI) claims have been increasing year-over-year and exceeding previous highs, as global supply chains were hit repeatedly by storms, fires and the pandemic, said Allianz Global Corporate & Specialty’s (AGCS) Global Claims Review 2022.  But

Oil rig in the Alberta Rocky Mountains
News InsuranceReinsuranceRisk

New captive may help Alberta’s energy industry spread risk

July 18, 2022 Philip Porado

At least one insurer has taken Alberta up on its newly legislated option to domicile captive insurance companies in the province. The Captive Insurance Companies Act in Alberta, formerly Bill 76, came into force July 1. NFP this week announced

Investor stock market chart rising upward
News InsuranceReinsurance

Where rising interest rates will lead insurers in 2022-23

July 15, 2022 by Alyssa DiSabatino

Economic slowdown and high inflation will weigh down insurance market growth in 2022-23, primarily affecting property and auto insurers; still, rising interest rates may actually be a silver lining for insurers, Swiss Re Institute’s latest sigma report notes.    Swiss

Male office worker looking at view through window of modern office over city.
News AnnouncementsInsuranceMergers and AqcuisitionsReinsurance

Reinsurer makes executive changes after M&A deal closes

July 13, 2022 by David Gambrill

PartnerRe Ltd. made a few executive-level shuffles Wednesday, marking the close of a December 2021 deal in which Covéa agreed to buy Partner Re from Exor for $9 billion in cash. Thierry Derez, CEO of Covéa Group, is replacing Brian

Conceptual abstract landscape: sea of money and dramatic sky.
News InsuranceMarkets / CoveragesReinsurance

Behind the upcoming hard market in global reinsurance

July 6, 2022 by David Gambrill

Globally, insurance companies’ premiums are on the rise. Inflation and wartime sanctions are cited as two (among other) major factors in why global reinsurers are sliding into a harder market status as of recent July 1, 2022, renewals, according to

Riot police dealing with a protest and fire on a city street.
News CatastrophesClaimsCommercial LinesConstructionInsuranceReinsuranceRisk

How to help your clients prepare for civil unrest

June 16, 2022 Philip Porado

Strikes, riots and violent protests sparked by inflation pose risks to companies, both in terms of physical damage to buildings and other assets, as well as income loss due to business interruption and an inability to access premises, said a

Robot holding a brain to represent artificial intelligence.
News ClaimsCommercial LinesInsuranceMarkets / CoveragesProductsReinsuranceRisk

How do you insure artificial intelligence?

June 15, 2022 Alyssa DiSabatino

Picture this. Your client is manufacturing a car that includes software to apply the brakes automatically when approaching slow traffic. No doubt, this software has some built-in artificial intelligence (AI) elements. When insuring a vehicle manufacturer, it’s not too difficult

A man stands with his hands on his hips in front of a beam of light that is coming in from an entrance of a dark tunnell
News BrokersClaimsInsuranceReinsurance

Why you can expect to be in the hard market a year from now

June 15, 2022 by Alyssa DiSabatino

Inflationary pressure will prolong the hard market for at least another year if not longer, 90% of more than 200 respondents predicted in a Canadian Underwriter webinar poll. Only 10% of respondents were optimistic the hard market would not be

Five small wooden toy block houses are surrounded by murky brown water in a flood plain, up to their windows.
News CatastrophesInsuranceLegislation / RegulationMarkets / CoveragesReinsurance

Which model will Canada’s national flood insurance program follow?

June 9, 2022 by Alyssa DiSabatino

After undergoing actuarial review, two possible flood insurance models are the “most promising” for private-public engagement within the upcoming national flood insurance program, a federal government official suggests.   One model is based on a pool for high-risk homeowners, among

House being lifted away by balloon.
News BrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesReinsuranceRisk

Remember 1970s stagflation? Why insurers should pay attention to the World Bank

June 7, 2022 Philip Porado

Lingering impacts of COVID-19 and Russia’s invasion of Ukraine have magnified a global economic slowdown and raised the risk of stagflation – in which long-term, feeble growth combines with high inflation – the World Bank says in its latest prospects

Container ship, heavily loaded, at sea.
News CatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesEngineeringInsuranceMarkets / CoveragesReinsuranceRestorationRisk

War and other factors loom over shipping sector: report

May 27, 2022 Philip Porado

While fewer total losses of cargo ships worldwide is good news for marine insurers, the number of shipping casualties rose during 2021, said Allianz Global Corporate & Specialty’s (AGCS) annual Safety & Shipping Review. Globally, 54 total vessel losses were

Delta flooding after hurricane.
News AdjustersBrokersCatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesEngineeringInsuranceMarkets / CoveragesReinsuranceRestorationRisk

How to speed up claims response for NatCats

May 25, 2022 Yasser Korany, Mario Delorme and Mazen Habash

Extreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme