Keyword
PCS
Worldwide IT spending forecast to grow 2.7% in 2017: Gartner
January 13, 2017 by Canadian UnderwriterWorldwide spending on information technology is projected to total US$3.5 trillion in 2017, a 2.7% increase from 2016, according to Gartner, Inc. Gartner, a Stamford, Conn.-based IT research and advisory company, noted in a statement on Thursday that the growth…
Canadian risk beginning to feature “fairly prominently” in cat bond market: PCS
January 4, 2017 by Canadian UnderwriterCanadian risk has begun to feature “fairly prominently” in the catastrophe bond market, with three cat bonds issued last year, according to Property Claim Services’ (PCS) full-year cat bond report for 2016. The report, titled Strong Finish: PCS FY2016 Catastrophe…
PCS estimates $3.98 billion in insured damage from Fort McMurray wildfire in final re-survey
November 17, 2016 by Canadian UnderwriterProperty Claim Services (PCS) has updated its insured damage estimate for the Fort McMurray wildfire to $3.98 billion, down from its August estimate of $4.67 billion. Of the $3.98 billion estimate, the majority is in personal lines ($2.9 billion), with…
Fort McMurray will hit Canadian’s p&c industry financial results in 2016: A.M. Best
November 9, 2016 by Canadian UnderwriterCurrent-year financial results for Canada’s property and casualty industry – which were once again strong in 2015 – are expected to take a hit in the wake of the Fort McMurray wildfire loss, notes a new report from A.M. Best.…
Cat bond issuance so far in 2016 down 15% compared to same period in 2015, Fort Mac reviving talk about unmodelled risks: PCS
October 5, 2016 by Canadian UnderwriterYear-to-date Cat bond issuance was down more than 15% compared to the prior-year period as a result of a usually light third quarter and a less usual quiet second quarter, notes a new report from Property Claim Services (PCS). The…
Fort McMurray wildfire accounts for 98% of H1 insured cat losses in Canada, 29% of PCS-designated North American losses
August 31, 2016 by Canadian UnderwriterThe Fort McMurray wildfire accounted for 98% of first-half insured catastrophe losses in Canada and 29% of Property Claim Services (PCS)-designated North American cat losses for the period, according to a preliminary estimate from the company. Insurers affected by the…
Nearly $90 million in insured losses from Western Canada thunderstorm system: PCS
August 15, 2016 by Canadian UnderwriterInsured property damage from a thunderstorm system July 18-20 in Western Canada is pegged, in a preliminary estimate, at $89.06 million, Verisk Analytics Inc.’s Property Claims Services unit reported. “In Alberta, thunderstorms brought strong winds, heavy rain and hail primarily…
Sponsors completed two cat bonds with Canadian coverage in Q1 2016: PCS
April 6, 2016 by Canadian UnderwriterSponsors completed two catastrophe bonds with coverage for Canada in the first quarter of 2016 – the same two sponsors that did so in the first quarter of 2015, according to Property Claims Services’ (PCS) Q1 2016 cat bond report.…