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Reinsurance


Commercial real estate for lease or sale
News BrokersCatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesInsuranceMarkets / CoveragesReinsurance

What’s driving challenges in commercial property?

September 19, 2023 by Jason Contant

Challenges in the Canadian commercial property insurance market continue to be a focal point throughout 2023, primarily driven by NatCat concerns and reinsurance costs, Aon said in its Fall 2023 Insurance Market Update Canada report. “The property market continues to

Road forks meet to represent a merger
News Insurance

U.K.-based firm buys two Canada brokerages

September 12, 2023 Canadian Underwriter Staff

Looks as if the summer 2023 P&C brokerage merger train will keep on rolling into the fall. Specialist insurance and reinsurance broker BMS Group has acquired Canada-based insurance brokers, Smith & Reid Insurance Brokers Ltd. and O’Neil Insurance. Smith &

Agriculture and technology concept
News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

What will help reduce farm fire severity?

August 15, 2023 by Jason Contant

The severity of fire losses in the agricultural sector is increasing as Canadian farms get bigger in size and value, but technologies are available to help reduce the frequency of that severity, a farm insurance expert told Canadian Underwriter. In

Kirsten Andersen at AXA XL
News ClaimsInsuranceLegal

AXA XL names new underwriting manager in Canada

August 3, 2023 Canadian Underwriter Staff

Specialty insurance provider AXA XL has named Kirsten Andersen underwriting manager for its design professional insurance business in Canada. The business unit provides errors and omissions/professional liability insurance to architectural and engineering firms in Canada, according to the firm’s website.

Rocket represents rising reinsurance premiums
News CatastrophesClimate ChangeInsurance

What’s the future for Canada’s reinsurance rates?

August 2, 2023 Alyssa Di Sabatino

New risks emerging in Canada are leading reinsurers to increase premiums, industry experts have told Canadian Underwriter. Although U.S. damage losses last year far outweighed Canada’s, contributing significantly to escalating reinsurance prices, insured NatCat damage in Canada in 2022 was

A crypto coin atop a bar graph
News InsuranceLegal

Industry input sought on new crypto-asset guidance

July 28, 2023 Philip Porado

While industries seldom relish regulation, Canada’s property and casualty (P&C) insurers can take solace in the knowledge that draft rules around their exposure to crypto-assets are limited. That’s because the latest Office of the Superintendent of Financial Institutions (OSFI) draft

Prime Minister Justin Trudeau speaks following a cabinet shuffle
News AnnouncementsCatastrophesClimate ChangeInsuranceMarkets / Coverages

Canada’s P&C insurers react to federal cabinet shuffle

July 27, 2023 by Jason Contant

Canadian property and casualty insurers will be working with new cabinet ministers in the areas of emergency preparedness, public safety (including cybersecurity and auto theft), and housing, infrastructure and communities (including climate resilience), following Prime Minister Justin Trudeau’s major cabinet

Mathematical equation on a black board
News BrokersCatastrophesClaimsInsurance

What the math says about P&C return rates

July 24, 2023 Alyssa Di Sabatino

What’s a reasonable rate of return for Canada’s property and casualty insurers? According to Craig Pinnock, chief financial officer at Northbridge Financial Corporation, for the insurance industry, it could sit anywhere between 5% on the low end, 10% on average,

Person running away from a tidal wave or tsunami
News CatastrophesClaimsClimate ChangeInsurance

Can insurers and reinsurers survive looming NatCat trends?

July 21, 2023 Glenn McGillivray

One of the hallmarks of a warming world is that you never know what may come next. The reasonably stable climate of the last 100,000 years is being thrown into disarray as Earth’s systems are forced out of kilter. For

Businesswoman calculating finances in an office
News InsuranceMarkets / CoveragesReinsuranceRisk

OSFI to review earthquake risk and minimum capital tests 

May 25, 2023 by Jason Contant

Canada’s solvency regulator will take a closer look at earthquake risk and the minimum capital test (MCT) for P&C insurers, an executive from the Office of the Superintendent of Financial Institutions (OSFI) said during an industry event last week.  Earthquake

Red question mark beside a wooden block with a percent symbol
News Commercial LinesInsuranceReinsurance

What we can expect from future reinsurance renewals

April 11, 2023 by Alyssa DiSabatino

The economic parameters that marked a tough reinsurance cycle in 2023 won’t be going anywhere in the next year, experts predict in a Canadian Underwriter webinar.   However, the extreme rate increases that insurers saw this year won’t be sustainable

Flooded Calgary Stampede grandstand
News BrokersCatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / CoveragesRisk

What Canada’s national flood insurance program could look like

March 31, 2023 by Jason Contant

Canada’s upcoming national flood insurance program will likely take characteristics from flood models in both France and Britain, Insurance Brokers Association of Canada (IBAC) CEO Peter Braid told Canadian Underwriter in an interview. In its 2023 budget, the federal government