Segment
Reinsurance
How budget cuts will affect flood risk mitigation
June 5, 2019 by Greg MeckbachFlood risk mitigation in Ontario could start to depend a lot more on the willingness of corporations and individuals to donate money to the conservation authorities. “The conservation authorities are going to have to make a better case for outreach…
Provinces asking feds for $138 million to help buy out flooded properties
May 16, 2019 Jordan Press - THE CANADIAN PRESSOTTAWA – Flood-ravaged provinces are asking the federal government to provide almost $138 million to move or buy out homeowners affected by previous years’ inundations, according to new data that gives a glimpse into the national costs of helping residents…
Munich Re Canada appoints new president and CEO
May 14, 2019 by Jason ContantMunich Reinsurance Company of Canada and Temple Insurance Company (a part of Munich Re) has appointed Claus-Ulrich Kroll as president and CEO of both companies. In his new role, Kroll will be responsible for the operation of all of Munich…
One in 1,000-year flood happening in Quebec
April 26, 2019 Giuseppe Valiante and Stephane Blais - THE CANADIAN PRESSMONTREAL – Quebec public security officials called for the immediate evacuation of an area along the Rouge River west of Montreal on Thursday because of the risk a hydro dam could fail. Simon Racicot, director of production and maintenance with…
Wildfire catastrophe models need improvement: Reinsurer
March 8, 2019 by Greg MeckbachThe world’s second-largest reinsurer is looking for partners in the artificial intelligence space to help the reinsurer get a better idea of how much insured damage future wildfires could cause. Swiss Re is working with the Massachusetts Institute of technology…
Is wildfire on the back burner?
March 6, 2019 David Gambrill, Editor-in-ChiefAfter a couple of close calls last year in B.C. and Ontario, can we say we are better prepared for a wildfire cat?
One solution for non-damage business interruption
February 21, 2019 by Jason ContantParametric insurance can help fill a gap in some policies by covering non-damage business interruption, a speaker said Tuesday at AXA XL’s Fast Forward LIVE event in downtown Toronto. Caused by a variety of factors, including severe weather conditions, non-damage…
The two main benefits of parametric insurance
February 20, 2019 by Jason ContantSpeed is one of the main benefits of parametric insurance compared to traditional forms of insurance, with the underwriting process taking just several days to two weeks, speakers from AXA Global Parametrics in France said Tuesday. Parametrics is index-based insurance,…
What the climate in these Canadian cities could be like in 2080
February 13, 2019 Bob Weber - THE CANADIAN PRESSWondering what your city’s climate will be like in a few decades? Look south – about 1,000 kilometres south, says an unusual new study published Tuesday. That’s the average distance between 540 cities in the United States and Canada and…
Executive challenges brokers regarding earthquake take-up rates in Quebec
February 8, 2019 by Jason ContantSparks flew during a recent conference discussion about mortgage impairment and earthquake loss, when a senior reinsurance company executive drew a link between the practices of Quebec brokers and the low take-up rates of earthquake insurance in the province. Philipp…
The ‘tough decision’ Alberta made to reduce flood risk
January 30, 2019 Lauren Krugel - THE CANADIAN PRESSCALGARY – The Alberta government has now acquired one fifth of the land it needs for a controversial reservoir west of Calgary that would help protect the city from another massive flood. Transportation Minister Brian Mason said Tuesday the province…
Why the global protection gap is the lowest it’s been in 14 years
January 22, 2019 by David GambrillGlobally, the protection gap in 2018 shrunk to 60% – the lowest level it has been in 14 years, according to a new report on global catastrophes by Aon plc. Extreme weather drove the majority of the globe’s $225-billion worth…