Keyword
Pricing
Canadian commercial lines policy charges up 1.1% in Q2 2015 from Q2 2014: Towers Watson
October 13, 2015 by Canadian UnderwriterPrices charged on commercial lines policies underwritten during the second quarter of 2015 increased 1.1% for the same coverage during the second quarter in 2014, according to the latest Towers Watson Commercial Insurance Pricing Survey – Canada. Once per quarter,…
Canada’s licensed trade credit insurers show increase in incurred losses on Canadian policies
October 9, 2015 by Canadian UnderwriterRecently released figures from Canada’s eight licensed trade credit insurers, including Crown corporation Export Development Corporation (EDC), show a marked increase in incurred losses on Canadian policies, according to brokerage firm PBL Insurance. Russ Parker, vice president of trade credit…
Reinsurance industry should brace for more challenges: A.M. Best
October 5, 2015 by Canadian UnderwriterContinued 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…
The Power of One
October 1, 2015 Craig Harris, Freelance Writer“Mass personalization” has become a distinct trend in sectors ranging from retail to manufacturing to e-commerce. Today’s consumers increasingly expect companies to tailor offers, products and pricing to their unique situations and preferences. Property and casualty insurers in Canada are slowly finding ways to tap into the power of personalization.
Companies like Uber, Lyft blurring the lines between U.S. personal and commercial insurance coverage: A.M. Best
September 18, 2015 by Canadian UnderwriterTransportation network companies (TNCs) are raising questions about insurance coverage – and gaps in that coverage – but represent a potential area of growth for insurers if protective measures are taken, notes a briefing from A.M. Best. The demand for…
Sea level rise may challenge some local governments in U.S., spur higher insurance rates for citizens: Fitch Ratings
September 17, 2015 by Canadian UnderwriterThe rise in sea levels in the long term – made worse by event risks such as hurricanes and storm surges – may pressure the operations, capital funding requirements and indebtedness of some local governments in the United States, Fitch…
Hannover Re anticipates rising demand in treaty renewals at Jan. 1, 2016
September 15, 2015 by Canadian UnderwriterProperty and casualty reinsurance worldwide is seeing a reduction in the oversupply of reinsurance capacity compared to the previous year despite the continuing highly competitive environment, Hannover Re CEO Ulrich Wallin said Monday during a press conference in Monte Carlo.…
Profits for Canadian p&c insurance companies endure despite challenging market conditions: A.M. Best
September 15, 2015 by Canadian UnderwriterCanada’s property and casualty insurance market – faced with challenging market dynamics and unforeseen headwinds like the steep decline in global oil prices – remains resilient, prompting A.M. Best to maintain a stable rating outlook for the industry as a…
U.S. commercial insurance prices rise 1%, increases continue to moderate: Towers Watson
September 14, 2015 by Canadian UnderwriterCommercial insurance prices in the United States increased in aggregate at a modest pace (1%) during the second quarter of 2015, notes the latest Commercial Lines Insurance Pricing Survey (CLIPS) from Towers Watson, released Monday. Comparing prices charged on policies…
Catastrophe bond coverage hits US$23.5 billion year-end high: Aon Securities
September 10, 2015 by Canadian UnderwriterAon Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, has announced that in the 12 months to June 30, there was a record number of catastrophe bonds on risk – US$23.5 billion. On Thursday,…
Overall reinsurance sector outlook negative for 2016; major Tier 1 and small mono-line companies diverge: Fitch Ratings
September 4, 2015 by Canadian UnderwriterThe sector outlook for the reinsurance industry is negative for 2016, but major Tier 1 reinsurers with strong franchises and market positions are well-placed to adapt to – and profit from – the changing reinsurance landscape and mounting competitive pressures,…