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Interesting manoeuvres expected at reinsurance renewal, buyers investigating additional limits: Guy Carpenter

October 19, 2015 by Canadian Underwriter

Some interesting manoeuvers can be expected as reinsurers seek to hold or grow their share of signings in the forthcoming renewals, Nick Frankland, CEO of Europe, Middle East and Africa (EMEA) operations for Guy Carpenter & Company, LLC, suggested Sunday during

News Insurance

Cyber risk a moving target, customers see pre- and post-event services as key: AGCS

October 16, 2015 Angela Stelmakowich, Editor

With insurers and customers alike still not fully understanding cyber risk and how damaging it could prove, Paul Schiavone suggests pre- and post-event services associated with cyber policies are becoming increasingly important to customers. “Unlike other insurance products that we

News CatastrophesClimate ChangeInsurance

Water scarcity creates risks for businesses, demands management: Zurich

October 14, 2015 by Canadian Underwriter

Water scarcity is leading to risks and exposures for businesses worldwide, necessitating that organizations put in place appropriate water management plans, argues a white paper issued Tuesday by Zurich Insurance. Businesses around the world are feeling the strain of water

News Insurance

Emerging economies likely to experience difficult stress test in year ahead, conditions to drive political risks: Willis

October 13, 2015 by Canadian Underwriter

Emerging economies – with Syria, Venezuela and Zimbabwe topping the risk list – are expected to experience a difficult stress test in the year ahead, although a repeat of the emerging markets crises of the late-1990s is unlikely, notes a

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Willis commits $1 million to multi-party forum to address nat-cat risk, information could help with closing protection gap

October 8, 2015 by Canadian Underwriter

Willis Group Holdings plc has announced a $1 million commitment from the global risk advisory and re/insurance broking firm to help mobilize a new multi-party Resilience Modelling and Mapping Forum that will focus on addressing natural catastrophe risk. The announcement,

News CatastrophesClimate ChangeInsurance

Reinsurance industry should brace for more challenges: A.M. Best

October 5, 2015 by Canadian Underwriter

Continued benign loss environment and strong performance by select publicly traded reinsurers in the first half of 2015 resulted in a healthy increase in average share price, but those positives seem to be giving way to challenges afoot in the

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Hurricane Joaquin intensifies as it tracks through Bahamas, insured losses could be limited: AIR Worldwide

October 2, 2015 by Canadian Underwriter

The transforming Hurricane Joaquin slowly tracking through the Bahamas is reminiscent of Hurricane Irene four years ago, but the latest storm is affecting Bahamian islands where insurance up-take is low, which will help limit insured losses, suggests a statement issued

News CatastrophesInsuranceMergers and Aqcuisitions

Zurich’s preliminary estimate of its expected Tianjin losses US$275 million

September 24, 2015 by Canadian Underwriter

Zurich Insurance Group has announced it currently estimates aggregate losses of about US$275 million in connection with mid-August’s series of explosions at a container storage station in the Port of Tianjin in China. The US$275 million estimate for Tianjin losses

News InsuranceMergers and Aqcuisitions

Global auto insurance market sees 2.9% growth since 2010 to US$669.7 billion in 2014, more growth expected

September 21, 2015 by Canadian Underwriter

The global market value of auto insurance premiums last year rose to US$669.7 billion in gross written premiums GWP) and is expected to continue growing in most countries up to 2018, notes a new report issued Monday by U.K.-based Finaccord.

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Chile quake’s estimated losses high, damage to several coastal towns

September 18, 2015 by Canadian Underwriter

The U.S. Geologic Society is reported to have made a loss estimate from the 8.3-magnitude earthquake in Chile on Sept. 16 – emphasizing it is early on and the range is far from concrete – of as much as US$1

News InsuranceMergers and Aqcuisitions

Insurance sector knows innovation important to being competitive, but struggling to innovate: KPMG

September 17, 2015 by Canadian Underwriter

Surveyed insurance executives understand the importance of innovation to drive future competitive advantage and growth, but most are struggling with making that goal a reality, reports KPMG International. A new report released Thursday, A new world of opportunity: The insurance

News InsuranceLegalMergers and Aqcuisitions

Half of surveyed consumers encountered malware, a third of those had financial loss: Kaspersky Lab

September 17, 2015 by Canadian Underwriter

A third of respondents to a global Kaspersky Lab survey who suffered a malware infection also experienced a financial loss, averaging US$160. “Victims spent money on professional repairs, software to eliminate the effects of an infection, and some even had