Keyword
Underwriting
Editor’s Note: Underwriting for the next pandemic
June 5, 2020 by David GambrillThe social and economic impact of the novel coronavirus pandemic in 2020 is truly horrifying, saddening, and staggering. Many of us have lost loved ones, or know people who are out of work because of the potentially lethal virus moving…
How easy is it for brokers to get terms in the cyber market?
February 27, 2020 by Jason ContantCapacity is still readily available to cover cyber risks, but more insurers are approaching the coverage cautiously, a speaker said Friday at NetDiligence’s Cyber Risk Summit in Toronto. In terms of procedure, clients’ applications for cyber coverage must clear more…
Buddies in Bad Times
June 4, 2019 Jeff BucksteinWhat makes a carrier a broker’s best friend forever? We asked brokers what tips the scales when they choose a carrier for their clients. Here’s what they told us….
What the commercial underwriter of the future might look like
February 22, 2019 by Jason ContantCommercial underwriting in the future may expand to encourage more cross-functional and hybrid responsibilities, potentially with engineering, claims, finance or operations, according to a new report from McKinsey & Company’s insurance practice. “To attract younger talent, companies need to recognize…
This reinsurer says rates need to go up
September 10, 2018 by Jason ContantUnderwriting margins will need to improve by at least six to nine points in major western markets to deliver sustainable returns, according to the latest sigma report from global reinsurer Swiss Re. The report Profitability in non-life insurance: mind the…
Why you’ll have trouble finding D&O insurance for clients using blockchain
August 23, 2018 by Jason ContantBrokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and…
Big Data is bringing credit score issue to the fore
July 29, 2018 by Greg MeckbachAs insurers’ computer databases get exponentially larger, the controversy around the use of credit scores in rating property coverage is getting intense. Customers are asking for “transparency” from insurers on how they price and underwrite insurance, Jean-François Larochelle, director of…
Chubb takes stand on sacrificing market share to maintain underwriting profit
April 7, 2018 by Greg MeckbachChubb Ltd. is willing to lose customers if they are not willing to pay higher prices for insurance. “We sacrifice market share (though not happily) in order to maintain an underwriting profit,” Evan Greenberg, chairman and CEO of Chubb Ltd.,…
Comparing insurance contracts? How AI can help expedite the process
March 5, 2018 by Jason ContantGlobal reinsurer Swiss Re is employing artificial intelligence (AI) to trace relationships between insurance contracts, all the way down to a single clause, allowing underwriters to process a submission much faster. Mike Fitzgerald, senior insurance analyst with financial consulting firm…
Insurer exploration of artificial intelligence accelerating: InsurTechTO speaker
November 7, 2017 by Angela StelmakowichIt is still “early days” for most insurers in Canada when it comes to employing artificial intelligence (AI), but exploration and use of the techniques is accelerating very quickly, Greg McCutcheon suggested Monday during InsurTechTO in downtown Toronto. “I would…
Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3
November 6, 2017 by Canadian UnderwriterThe impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of…
Echelon Insurance reports near halving of net income in 2017 Q3 compared to 2016 Q3
November 3, 2017 by Canadian UnderwriterThe B.C. wildfires and losses related to commercial auto and motorcycle contributed to Echelon Insurance witnessing a 42% decrease in net income and an increase in combined operating ratio for 2017 Q3 compared to 2016 Q3. Net income amounted to…