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pandemic

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Swiss Re Group books $2.5 billion for pandemic-related losses

July 31, 2020 by David Gambrill

Swiss Re today reported COVID-19 claims and reserves totalling $2.5 billion across the Group, resulting in a net loss of $1.1 billion in the first half of 2020 (all figures in U.S. dollars). “Based on current information and a prudent

News Insurance

Paid What brokers want from their carriers during the pandemic

July 29, 2020 Liberty Mutual Canada

As COVID-19 changes the world, brokers need carriers that will change along with it. For brokers, successful carriers during and beyond the global pandemic will be the ones excelling at the three ‘As’ — accessibility, agility and authority (underwriting). And

News Insurance

An alternative way to transfer pandemic risk

July 28, 2020 by Adam Malik

Parametric solutions may be a key way to close the pandemic protection gap — the gap between those who are experience losses due to the pandemic and those who have insurance coverage for it — but the solutions generally require

News Insurance

Bar reopenings going ahead in Ontario as Quebec links cases to bars in Montreal

July 16, 2020 Mia Rabson - THE CANADIAN PRESS

OTTAWA – Canada’s deputy public health chief says going inside a bar to have a drink with friends remains a high-risk activity in the era of COVID-19. Dr. Howard Njoo’s reminder Tuesday came just days before Ontario starts to allow

News CatastrophesClaimsInsuranceReinsurance

Lloyd’s proposes “open source” frameworks for future pandemic coverage

July 6, 2020 by David Gambrill

Lloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers

News CatastrophesInsurance

Opinion: COVID is nasty and impactful, but it’s not a Black Swan

May 19, 2020 Glenn McGillivray, Managing Director, Institute for Catastrophic Loss Reduction

Since the “black swan” metaphor was coined in the 2007 book of the same name, it has become fashionable to label virtually all low probability/high impact events black swans. But the danger of making an occurrence like the COVID-19 outbreak

News Insurance

How pandemic impacted ICBC’s claim costs, investment income

May 15, 2020 THE CANADIAN PRESS

VICTORIA – The COVID-19 pandemic has sideswiped British Columbia’s public vehicle insurer, but the attorney general says it’s too soon to assess the potential damage. David Eby, who is also the minister responsible for the Insurance Corporation of B.C., said

Feature Brokers

Calm in the storm

May 8, 2020 Adam Malik, Managing Editor

Living and working during a global pandemic is new to everyone. The executive team of Edmonton-based Leibel Insurance Group shares their best advice about how to work from home successfully. – As told to Adam Malik Create a routine. That’s

News CatastrophesClaimsClaims Canada

Predicting possible outcomes to coronavirus and other pandemics with models and simulations

April 20, 2020 Gabriel Wainer, Professor, Systems and Computer Engineering, Carleton University - THE CANADIAN PRESS

This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site Lately, our daily lives include reading complex news items with analysis

News BrokersClaimsInsurance

Is this how much pandemic coverage costs?

April 14, 2020 by Adam Malik

Famed tennis tournament The Wimbledon Championships has been buying pandemic coverage at a cost of millions of dollars per year for nearly two decades. And it’s set for a claims payout this year, according to a data analytics company. GlobalData,

News Claims CanadaEmploymentRiskTechnology

One business interruption risk from COVID-19 that your clients may overlook

March 11, 2020 by Greg Meckbach

Will your business get interrupted because people working from home due to COVID-19 cannot log into their computer systems? “If you are asking staff to work from home, make sure that the technology systems to enable them to do that can

News InsuranceMarkets / CoveragesRisk

Can the Novel Coronavirus illness trigger P&C policy coverage?

January 30, 2020 by David Gambrill

News of three documented Canadian cases of 2019 Novel Coronovirus (or 2019-nCoV) has spread like wildfire, and several legal commentators and risk managers are now issuing alerts containing steps to reduce the likelihood of people contracting the pneumonia-like symptoms in