Canadian Underwriter

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Reinsurance

News CatastrophesReinsuranceRisk

Wildfire catastrophe models need improvement: Reinsurer

March 8, 2019 by Greg Meckbach

The 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

News ClaimsInsuranceMarkets / CoveragesReinsurance

One solution for non-damage business interruption

February 21, 2019 by Jason Contant

Parametric 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

News InsuranceMarkets / CoveragesReinsurance

The two main benefits of parametric insurance

February 20, 2019 by Jason Contant

Speed 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,

News Climate Change

What the climate in these Canadian cities could be like in 2080

February 13, 2019 Bob Weber - THE CANADIAN PRESS

Wondering 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

News BrokersClaimsInsuranceReinsurance

Executive challenges brokers regarding earthquake take-up rates in Quebec

February 8, 2019 by Jason Contant

Sparks 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

News CatastrophesClaimsConstruction

The ‘tough decision’ Alberta made to reduce flood risk

January 30, 2019 Lauren Krugel - THE CANADIAN PRESS

CALGARY – 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

News Insurance

Why the global protection gap is the lowest it’s been in 14 years

January 22, 2019 by David Gambrill

Globally, 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

News InsuranceMarkets / CoveragesReinsurance

Hard market? Not so fast.

January 16, 2019 by Jason Contant

The Canadian insurance industry is not at the beginning of a hard market, says Phil Cook, a P&C industry consultant and CEO of Omega Insurance Holdings. “There are some commentators out there that will say we are at the beginning

News Climate ChangeInsuranceReinsurance

What could drive reinsurers away from some markets

December 10, 2018 by Greg Meckbach

Reinsurance is extremely important but could get too expensive in certain areas, industry leaders said at a recent event. Some insurance companies today are “dialing up their reinsurance protection – property and cat risk in particular in the United States,”

News Earnings / RatingsInsuranceReinsurance

Why A.M. Best gave the global reinsurance segment a ‘stable’ outlook

December 6, 2018 by David Gambrill

CORRECTION: An earlier version of this story incorrectly stated that A.M. Best had changed its outlook for the global reinsurance sector from ‘Stable’ to ‘Negative.’ In fact, the outlook changed to ‘Stable’ from ‘Negative.’ Canadian Underwriter apologizes for the error.

Feature Reinsurance

Power of Small

November 2, 2018 David Gambrill, Editor-in-Chief

Canada’s reinsurance marketplace, featuring a relatively small piece of the global premium pie, creates a challenge for reinsurers to grow their business. So why do reinsurers remain optimistic about their future prospects?

News Announcements

Introducing the new Canadian Underwriter, “Your Guide to Insurance Success”

October 10, 2018 Ian Portsmouth, Publisher

Whatever your role in the industry, you can rightfully feel harried by the demands of an insurance career today. You’re certainly dealing with more change and complexity than the people who received the debut issue of this magazine in January