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Swiss Re report shows trajectory of insured flood losses

September 2, 2022 by Alyssa DiSabatino

Insured flood losses doubled to $80 billion during 2011-20 compared to the previous decade, and global flood losses reached $20 billion alone in 2021, Swiss Re reports.  “Increased wealth, larger populations and urbanization have raised flood risk exposures across the

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Risk of flood loss is now on par with primary perils: Swiss Re

March 31, 2022 by Alyssa DiSabatino

Secondary peril events such as flooding are becoming just as big of a threat — or worse — to global property and casualty insurers than primary perils, Swiss Re Institute’s recent sigma study finds. “The loss potential from single flood

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Parametric insurance: a solution for businesses of any size?

March 4, 2022 by Alyssa DiSabatino

Natural catastrophes can affect businesses of any size, and parametric insurance can provide solutions for small accounts, too — not just large ones, panellists said at a Canadian Underwriter webinar on Wednesday.   Parametric insurance is a type of index-based insurance

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These socioeconomic factors are driving up property claims

December 7, 2021 by Greg Meckbach

Urbanization, the increasing popularity of solar panels and a greater awareness of what is covered insurance are among the factors driving an escalation of insured property losses, a speaker suggested at last week’s CatIQ Connect conference. “Urbanization means that we

News CatastrophesClaimsClimate Change

Can we blame climate change for B.C. ‘atmospheric river?’

December 2, 2021 by Greg Meckbach

We can’t say for sure that climate change has caused the heavy rainfall and severe floods and landslides currently affecting British Columbia, but global warming is making disasters like this more likely, a Swiss Re speaker suggested Thursday. “Warmer air

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Swiss Re predicts record-high global insurance premiums by end of 2022

August 6, 2021 Canadian Underwriter Staff

As the world economy steadily recovers from the COVID-19 pandemic, Swiss Re forecasts that global insurance premiums will reach a never-before-seen U.S.$7 trillion by the end of 2022. According to the global reinsurer’s recent World Insurance Sigma report, the pandemic

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Look back, but not too far: Why some perils need a new approach 

June 14, 2021 by Jason Contant

The insurance industry needs to look at the “more recent past” and take a shorter-term view of catastrophic perils to see their effects going forward, Swiss Re told Canadian Underwriter recently.   “When we’re looking at recent events, including the 2020

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Why Canada could be in the path of stronger hurricanes in the future

June 7, 2021 by Jason Contant

Canada could see heightened hurricane risk in the future, as climate change and fluctuations in ocean temperature are increasing the likelihood of stronger hurricanes making landfall further north, according to Swiss Re. “We see an increased likelihood of intense hurricanes

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Monica Ningen, Swiss Re

March 10, 2021 by Jason Contant

Monica Ningen, President, CEO, Swiss Re Canada and the English Caribbean Women at all stages of their careers in the insurance industry continue to face barriers such as higher performance standards, harsher judgement for mistakes than their male counterparts, and

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Karen Gavan, Swiss Re board

March 8, 2021 by Jason Contant

Karen Gavan, Swiss Re board of directors and former president, CEO of Economical Insurance To reach a leadership position in the Canadian property and casualty insurance industry, women leadership hopefuls need to develop and hone their financial literacy skills, the

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Swiss Re’s new head of P&C client markets in Canada

November 16, 2020 by David Gambrill

Agis Kitsikis has been appointed as Swiss Re’s new head of P&C client markets for Canada and the English Caribbean, effective immediately. He succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of business development for Europe,

News CatastrophesClaims CanadaClimate ChangeInsuranceLegislation / RegulationMarkets / Coverages

Watch for governments to transfer financial risk from natural disasters to insurers: Swiss Re

October 16, 2020 by Greg Meckbach

There is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes. In Asia, Africa, the United States and Britain, there are examples of national and sub-national