Keyword
Ratings/Research
The Business of Herding Cats
July 1, 2014 Joel Baker, Chief Executive Officer, Catastrophe Indices and Quantification Inc. (CatIQ Inc.) and MSA Research Inc. and Carolyn Rennie, Director of Catastrophic Loss Analysis, CatIQFacing catastrophe losses that are both more frequent and severe, insurers/reinsurers in Canada require accurate and actionable detailed analysis and insured loss estimates to be able to effectively manage associated risks.
Leveraging Data
June 1, 2014 Nicolas Michellod, Senior Analyst, Insurance, CelentPredictive analytics to address issues such as claims fraud, underwriting and customer segmentation can help leverage business intelligence tools to create predictive models to more effectively and accurately make business decisions.
Fraud Rings Beware
June 1, 2014 Kevin Deveau, Managing Director, FICO CanadaThe insurance industry needs to take additional actions to stop the significant problem of losses caused by individual fraudsters and organized crime rings. New technological advances have made it possible to analyze untapped data and shift the fight against fraud from the claim to the claimant.
Role Model
June 1, 2014 by Canadian UnderwriterUse of predictive modelling is on the rise, an encouraging development in light of its promise to improve underwriting, pricing, claim management and other core functions. That said, overall use of predictive modelling fluctuates significantly by line of business and company size.
Paperless Savings
June 1, 2014 Catherine Smola, President and Chief Executive Officer, Centre for Study of Insurance OperationsGoing paperless offers the promise of some significant efficiencies and costs savings. Combining different solutions, however, can provide brokers the biggest bang for the buck.
Ontario to raise taxes, mandate pension contributions for employers
May 1, 2014 Greg Meckbach, Associate EditorThe Ontario government announced Thursday it plans to eliminate the small business deduction on corporate taxes for large firms, to raise individual tax rates for those earning $150,000 or more and to require employers not offering their own pension plan…
New federal requirements could put upward pressure on levels of capital to hold: CEO
April 23, 2014 Angela Stelmakowich, EditorThe Office of the Superintendent of Financial Institutions’ (OSFI) Own Risk and Solvency Assessment (ORSA) guideline will demand a new level of focus by insurers to adequately assess their risk profile, but could put upward pressure on the levels of…
Global reinsurers report improved results in 2013 after ‘manageable’ cat losses: Fitch
April 22, 2014 by Canadian UnderwriterGlobal reinsurers reported solid underwriting gains last year, as “catastrophe-related losses were manageable and loss reserve development remained favourable,” Fitch Ratings said Tuesday. Among the global reinsurers that the firm tracks, the underwriting combined ratio improved to 85.5% in 2013,…
Reinsurers showed ‘strong underwriting profitability’ in 2013: A.M. Best
April 4, 2014 by Canadian UnderwriterRatings firm A.M. Best Company released Friday a special report on global reinsurance, reporting an improvement in loss ratios in both the Lloyd’s and United States and Bermuda markets and “relatively healthy” investment income in the sector. “An A.M. Best…
Momentum building for more insurance M&A activity in 2014: Deloitte
February 28, 2014 by Canadian UnderwriterDespite a lower number of merger and acquisition deals in the insurance industry last year, and several economic and regulatory challenges, industry observers are “cautiously optimistic about 2014,” notes a new report from Deloitte. In its 2014 Insurance M&A Outlook…
U.S. P&C insurers to handle losses from severe winter weather: A.M. Best
February 24, 2014 by Canadian UnderwriterDespite severe winter weather causing heavy property damage and business interruption losses in the United States over the past two months, insurers there will be likely to handle losses, according to a special report from A.M. Best. From early January…
Lower cat losses boost results for U.S. homeowners’ insurance sector
February 21, 2014 by Canadian UnderwriterLast year, the homeowners’ insurance sector in the United States will have had its first statutory underwriting profit since 2007, benefitting from a decline in natural catastrophe losses, among other factors, according to a new report from Fitch Ratings. Increasing…