Keyword
Reinsurance
Berkshire Hathaway now fourth place in reinsurance market: A.M. Best
September 2, 2015 by Canadian UnderwriterBerkshire Hathaway Inc. has jumped ahead of SCOR SE in the reinsurance market, replacing the Lloyd’s market as the fourth-largest reinsurance group in 2014, A.M. Best Company Inc. suggests in a report released Wednesday. In its annual Global Reinsurance Segment…
Abundant capacity from traditional and alternative sources creating “new reality” for reinsurance market: A.M. Best
September 2, 2015 by Canadian UnderwriterThe reinsurance market is operating in a “new reality” of abundant capacity from traditional and alternative sources, low interest rates and thinner reinsurance margins driven by intense competition against shrinking demand for reinsurance cover, ratings firm A.M. Best Company said…
Closing the Divide
July 3, 2015 Geoff Lubert, Managing Director, Willis Re Canada; and Andrew Newman Global Head of Casualty, Willis ReWith advances in casualty catastrophe modelling and greater use of enterprise risk management, liability insurers are poised for a transformation in risk management, reinsurance focus and strategy. The shifting focus to real exposures of liability business is closing the divide that, until recently, has existed between the framework that supports property versus casualty exposures.
Calm before the Storm?
July 3, 2015 Karen Clark, Chief Executive Officer, Karen Clark & CompanyWill climate change make Canada vulnerable to hurricanes? Industry’s ability to observe tropical cyclone activity in the North Atlantic has certainly improved. Climate change could result in an increase in hurricane intensity, and should that occur, the geographical extent of the storms will be greater and the impacted area larger.
Shaky View
July 3, 2015 Iain Bailey, Earthquake Specialist, Swiss ReHollywood disaster movies can help temporarily raise the level of earthquake risk awareness. But additional and concerted efforts are required – including around improved understanding of associated risks and available insurance cover – to achieve a permanent solution.
Beyond Fun and Games
July 3, 2015 Andrew Duxbury, Underwriting Manager, Munich ReToronto is playing host to the Pan Am Games and the Parapan Am Games this summer. But what if something happened – a flood, a civil protest, a transportation shutdown? What could it mean for reinsurers and insurers if the Games are interrupted?
Position of Strength
July 3, 2015 Angela Stelmakowich, EditorThe reinsurance industry is under a lot of pressure, be it from the seemingly relentless influx of insurance-linked securities (ILS), consolidations or the relatively benign catastophe environment. But are the changing conditions necessarily a bad thing? Or just a bad…
Water Logged
July 3, 2015 Angela Stelmakowich, EditorThere is no getting away from water in Canada’s property and casualty insurance industry. Protection is available for much of the damage that water can do on the residential side, but not all. Will the overland flooding options now becoming available help cap the flow or will leaks in coverage remain? And what might this evolving environment mean for insurers and reinsurers alike?
Drought to Deluge
June 1, 2015 Anya Sri-Skanda-Rajah, Managing Director, GC Analytics, Canada Flood Model Strategic Lead, Guy Carpenter & CompanyBoth data and technology are having an impact on the development of flood insurance products. With recent breakthroughs that advance the ability to perform stochastic modelling, more insurers appear open to writing flood insurance, a move that could help shrink the coverage gap for homeowners.
Marketplace
May 1, 2015 by Canadian UnderwriterCANADIAN MARKET Zurich Canada launches drone insurance package Zurich Canada has launched a new drone insurance product that it maintains “closes an important coverage gap” for companies already making use of drones. Developed in partnership with Global Aerospace Underwriting Managers Limited…
Marketplace
April 1, 2015 by Canadian UnderwriterCANADIAN MARKET Quebec brokerage sector a model: Study Quebec’s brokerage industry is the driving model for damage insurance, notes a new study, sponsored by BMO Bank of Montreal. The Regroupement des cabinets de courtage d’assurance du Québec commissioned Raymond Chabot…
Marketplace
March 1, 2015 by Canadian UnderwriterCANADIAN MARKET Intact acquires Canadian Direct Insurance for $197 million Intact Financial Corporation (IFC) is expanding its direct operations in Western Canada with the recently announced acquisition of Canadian Direct Insurance Inc. (CDI). IFC reports that it has entered into…