Canadian Underwriter

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Reinsurance


News InsuranceReinsurance

Twenty more years of low interest rates? What that and a recession will mean for Canadian P&C insurers

October 4, 2019 by David Gambrill

If P&C insurers are looking to use their investment returns to offset inadequate pricing strategies, Swiss Re has a chilling prediction for them – low interest rates could be with us for another 20 years or longer. Jerome Jean Haegeli,

News InsuranceReinsurance

What concerns the Ontario regulator about OSFI’s proposed reinsurance guidelines

October 3, 2019 by Jason Contant

The CEO of Ontario’s new regulator expressed concern Tuesday about the extent to which the P&C insurance industry says it will be required to provide more capital to comply with the proposed new reinsurance guidelines of Canada’s solvency regulator. The

News InsuranceReinsuranceRisk

$30-billion sticker shock for OSFI’s proposed reinsurance rules

September 24, 2019 by David Gambrill

Canada’s property and casualty industry would have to post an additional $21 billion to $30 billion in capital to insure Canadian risks if the country’s solvency regulator moves forward with proposed new rules as currently drafted, the industry warns. On

News InsuranceReinsurance

Where Canada’s resilience to economic shock ranks globally

September 10, 2019 by Jason Contant

The global economy now has less capacity to absorb a shock than it did in 2007 (pre-global recession), but Canada is faring well – it is the second-most economic resilient country in world, according to the Swiss Re Institute. In

News InsuranceReinsurance

Sign of the times: Why this bank bailed out of P&C reinsurance

August 28, 2019 by David Gambrill

Buffeted by severe weather claims, the Bank of Montreal has decided to exit the property and casualty reinsurance side of the business, BMO announced during a conference call Tuesday. “In Q4 of last year, we said we were reviewing ways

Feature ClaimsClaims Canada

Shifting Sands

July 7, 2019 Jason Contant, Online Editor

Your client’s home falls into a sinkhole — coverage denied, right? How coverage may still apply, depending on a shift in circumstances

News InsuranceReinsurance

Why Swiss Re says insurance profitability will remain ‘under pressure’

July 5, 2019 by Greg Meckbach

Expect the low-interest-rate environment to continue for at least two more years, Swiss Re warned Thursday. “Insurers will continue to operate in a low-interest-rate environment for the next two years at least, meaning that industry profitability will remain under pressure,”

News InsuranceLegislation / RegulationMarkets / CoveragesReinsurance

How to make earthquake insurance sexy

June 28, 2019 by Jason Contant

Quebec’s financial regulator, the Autorité des marchés financiers (AMF), is working with the property and casualty insurance industry to make the earthquake insurance product more attractive to insurers, brokers and consumers. In its 2017-2020 Strategic Plan released Thursday, AMF said

News CatastrophesClaims

How budget cuts will affect flood risk mitigation

June 5, 2019 by Greg Meckbach

Flood 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

News CatastrophesClaims CanadaClimate ChangeLegislation / Regulation

Provinces asking feds for $138 million to help buy out flooded properties

May 16, 2019 Jordan Press - THE CANADIAN PRESS

OTTAWA – 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

News AppointmentsInsuranceReinsurance

Munich Re Canada appoints new president and CEO

May 14, 2019 by Jason Contant

Munich 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

News Catastrophes

One in 1,000-year flood happening in Quebec

April 26, 2019 Giuseppe Valiante and Stephane Blais - THE CANADIAN PRESS

MONTREAL – 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