Keyword
insolvency
Expected insured losses from present-day Hurricane Andrew would total US$56 billion: AIR Worldwide
August 21, 2017 by Canadian UnderwriterIf Hurricane Andrew were to occur today, 25 years after its original landfall, the expected total industry insured losses (based on today’s exposures) would be approximately US$56 billion in the United States, catastrophe risk modelling firm AIR Worldwide reported on…
Relying on government to solve “big shake” problem courts continued procrastination: Tannas
May 25, 2017 by Angela StelmakowichThe potential for procrastination to address the consequences of a large earthquake in Canada are persistent and pervasive, demanding implementation of a tactical plan that could see “the issue dealt with, one way or another, in the next 12 months,”…
C.D. Howe Institute report calls for federal emergency backstop arrangement for earthquakes
August 3, 2016 by Canadian UnderwriterA former federal Superintendent of Financial Institutions is calling for a last-resort federal emergency backstop arrangement for P&C insurers to minimize the systemic financial impact resulting from a “catastrophic and likely uninsurable natural disaster,” such as earthquake. “A federal emergency…
Canadian insurance industry looking to partner with government to establish new capital framework for managing earthquake risk: CIFF speakers
May 27, 2016 Jason Contant, Online EditorThere is a need to formalize the role that government can play in helping to manage the financial impact of a “mega cat,” speakers suggested on Wednesday at the Canadian Insurance Financial Forum (CIFF) in Toronto. “We are well-capitalized for…