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Free online offering hopes to bolster catastrophe modelling understanding

September 5, 2017 by Canadian Underwriter

What has been described as the first free and neutral open online catastrophe modelling course was launched today to help those working in climate change and disaster loss mitigation, academia and insurance better understand the use of models in nat-Cat

News CatastrophesInsuranceReinsurance

Greater risk of negative underwriting results for reinsurers predicted by S&P

August 15, 2017 by Canadian Underwriter

With property catastrophe prices dropping during the 2017 renewals, combined with natural catastrophe losses exceeding US$50 billion last year, global reinsurers are at greater risk of having negative underwriting results and will tend to “shy away” from property catastrophe business,

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Hannover Re, Guy Carpenter place $960 million worth of ILS transactions in three U.S. states

July 12, 2017 by Canadian Underwriter

Hannover Re announced Wednesday it has completed three insurance-linked securities transactions, through Marsh and McLennan Companies Inc.’s GC Securities unit, with a total value of $960 million. All figures are in United States dollars. Hannover Re said it transferred $750

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Canada lacks ‘commercially widely available wildfire models,’ Aviva Canada reinsurance VP warns

May 2, 2017 Greg Meckbach, Associate Editor

Insurers have no “meaningful way of modelling wildfire” losses, a senior executive for Swiss Re Ltd. recently suggested to industry professionals. “If you look at it globally speaking, usually about half of the total insured losses globally are unmodelled perils,”

News CatastrophesInsuranceLegalMergers and Aqcuisitions

BP faces further US$2.5 billion charge over 2010 Deepwater Horizon spill, total cost at US$61.6 billion

July 15, 2016 by Canadian Underwriter

Oil and gas company BP plc announced on Thursday that the 2010 Deepwater Horizon accident and oil spill will cause the company to take “an after-tax non-operating charge of around US$2.5 billion in its second quarter 2016 results.” BP said

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsTechnology

200-year loss scenario from flood in Canada could produce insured losses of $5.7 billion: Swiss Re

June 15, 2016 by Canadian Underwriter

Flood is clearly the number one peril in Canada, with Swiss Re estimating that a “perfect storm” flood scenario would result in economic losses of $13.8 billion and insured losses of $5.7 billion. Developed using the company’s new probabilistic flood

News CatastrophesInsuranceMergers and Aqcuisitions

Major commercial buildings, seaside hotels in Ecuador likely of concern to insurance industry following earthquake: RMS

April 19, 2016 by Canadian Underwriter

The major commercial buildings and the many seaside hotels in Ecuador are likely to be of concern to the insurance industry following the recent magnitude-7.8 earthquake in the northwestern part of the country, according to the chief research officer at

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Canada in better position than most to close protection gap, collaboration key: Scotti

April 6, 2016 by Angela Stelmakowich

“Canada is in a better position than many other countries to actually close its protection gap,” Veronica Scotti, president and CEO of Swiss Re Canada, said Wednesday during Swiss Re’s Canadian Insurance Outlook in downtown Toronto. “Sometimes it takes an