Keyword
Political Risk
3 ways Canadian insurers can prepare for political risk
April 2, 2024 by David GambrillCanada is not immune to social divisions resulting in damage caused by political protests, and insurance companies can do three things to prepare for political risk, says a new report published by the Insurance Institute of Canada. First, insurance companies…
Is political risk the next NatCat?
May 1, 2023 Philip PoradoMuch like NatCat events, political risk losses tend to be low frequency but high severity, said a new Oxford Analytica survey, produced for WTW, on how global businesses are managing current political risks. “Political risk losses occur rarely but tend…
Hub acquires Canadian credit risk brokerage
June 3, 2021 by Jason ContantHub International Limited has announced the acquisition of Global Credit Risk Management Inc. (GCRM), a Canada-wide independent broker of accounts receivable and political risk insurance. With a national presence and offices located in Ontario and Alberta, GCRM provides accounts receivable…
Trade war? There may be insurance for that
July 22, 2018 by David GambrillAs the U.S. Commerce Department contemplates imposing a 25 per cent tariff on all vehicles imported into the United States, including vehicles from Canada, risk managers are starting to contemplate where all of this heightened rhetoric around protectionism may take…
Combined ratio down 4.6 points at Axis Capital
July 28, 2017 by Canadian UnderwriterAxis Capital Holdings Ltd. reported Wednesday a 4.6-point improvement in its Q2 combined ratio, from 102.2% in the second quarter of 2016 to 97.6% in the latest quarter. Pembroke, Bermuda-based Axis Capital writes both reinsurance and commercial primary insurance worldwide…
XL Group Ltd. sees net income soar in 2017 Q2 over prior-year quarter, focus on executing strategy continues
July 27, 2017 by Canadian UnderwriterBoth net income attributable to common shareholders and operating net income for Bermuda-based XL Group Ltd. skyrocketed in 2017 Q2 compared to 2016 Q2, with the former increasing six-fold to US$301.6 million. Specifically, net income attributable to common shareholders amounted…
Chubb increases insurance capacity for terrorism, political risk
June 13, 2017 by Canadian UnderwriterChubb Limited announced Monday it will offer “new increased capacity,” up to US$150 million or 150 million euros, covering terrorism political risk and war risks. “Chubb has increased its terrorism and political violence capacity per account by 300% in the…
Shipping losses continue to decline but “perfect storm” of regulation, cost savings and cybersecurity looms: AGCS
June 13, 2017 by Canadian UnderwriterLarge shipping losses have declined by 50% over the past decade, but a “perfect storm” of regulation, cost savings and cybersecurity looms, according to Allianz Global Corporate & Specialty’s (AGCS) fifth annual Safety and Shipping Review 2017. The report, released…
XL Catlin opens political risk, credit and bond insurance practice in Canada
May 30, 2017 by Canadian UnderwriterXL Catlin announced on Tuesday that it has opened its first political risk, credit and bond (PRCB) practice in Canada “to address continued demand” and appointed Marvin Azzopardi as senior underwriter. “We are very excited to open our first Canada-dedicated…
Damage to reputation/brand gets social, cyber jumps higher on risk list: Aon survey
April 24, 2017 by Angela StelmakowichPHILADELPHIA – Social media is amplifying the impact of the top-ranked risk for businesses – damage to reputation and brand – while cyber risk has fully entrenched itself in the Top 10, becoming the number one risk for respondents in…
Business losses from terrorism shifting away from property damage: Aon
April 6, 2017 by Canadian UnderwriterTerrorism “linked to” Al Qaeda and the Islamic State of Iraq and the Levant “remains a critical threat” worldwide, especially in the oil and gas sector, but with a recent trend towards terrorists using vehicles as weapons, the loss to…
Markel looking to develop trade credit and political risk business in Canada
March 29, 2017 by Canadian UnderwriterSpecialist insurer Markel International announced on Wednesday that it is seeking to develop its trade credit and political risk business in Canada. Business will be underwritten by Markel Canada on Lloyd’s syndicate 3000 paper, Markel International said in a statement.…