Canadian Underwriter

Segment
Reinsurance


News Insurance

How much are reinsurers underestimating climate change risk?

October 18, 2021 by Jason Contant

Global reinsurers could be underestimating climate change exposure by up to 50%, according to a recent analysis by S&P Global Ratings.  “Our scenario analysis suggests that reinsurers’ estimates of their exposure to natural catastrophe risk — and therefore physical climate

Feature CatastrophesClaimsClaims CanadaReinsurance

A fire season like none other

October 6, 2021 Jason Contant, Online Editor

Even as B.C. wildfires continue to burn, investigations begin and claims start rolling in.

News Insurance

Will cyber insurance rates double in the next couple years?

October 4, 2021 by Jason Contant

Prices in the cyber re/insurance market could rise sharply between 2021 and 2023, in some cases doubling from current levels, according to a report from S&P Global Ratings. “Depending on the region and [terms and conditions], policyholders could expect rate

News Insurance

Outlook for reinsurers improves post-pandemic

September 8, 2021 James Langton, Investment Executive

Despite a recent string hurricanes, floods, wildfires and other natural disasters, the outlook for the global reinsurance sector is improving, according to rating agencies Moody’s Investors Service and Fitch Ratings. In a new report, Moody’s said the outlook for the

News ClaimsClaims CanadaInsuranceReinsurance

A.M. Best unveils new estimate of reinsured COVID losses

September 3, 2021 by Greg Meckbach

Recognized COVID-related losses are about US$40 billion for the global reinsurance industry, A.M. Best Company Inc. said in a reported released Aug. 30. Original estimates of insured COVID losses “easily exceeded” twice that US$40 billion figure, “with around half the

News ClaimsClaims Canada

Regarding Henri: How this tropical storm could impact Atlantic Canada

August 23, 2021 by Greg Meckbach

Rip tides and waves of up to four metres could affect the Nova Scotia coast once the remnants of Hurricane Henri reach Atlantic Canada Monday. “No significant wind is expected over Maritimes land areas at this time,” Environment Canada said

News CatastrophesClaimsClaims CanadaClimate ChangeRisk

Maritime farmers ship hay to drought-stricken Prairies

August 18, 2021 Amanda Stephenson - THE CANADIAN PRESS

CALGARY – Farmers in the Maritimes are pitching in to help their drought-stricken Prairie counterparts facing a “devastating” situation. On his farm in the Annapolis valley north of Halifax on Tuesday, Tim Marsh was busy baling hay that will ship

News Insurance

Why mega-ships are mega risks for marine insurers

August 16, 2021 by Jason Contant

The blocking of the Suez Canal by the Ever Given container ship in March shows that ever-increasing vessel sizes continue to pose a disproportionately large risk, said marine insurer Allianz Global Corporate & Specialty SE (AGCS). On Mar. 23, 2021,

News Insurance

Swiss Re predicts record-high global insurance premiums by end of 2022

August 6, 2021 Canadian Underwriter Staff

As the world economy steadily recovers from the COVID-19 pandemic, Swiss Re forecasts that global insurance premiums will reach a never-before-seen U.S.$7 trillion by the end of 2022. According to the global reinsurer’s recent World Insurance Sigma report, the pandemic

News ClaimsClaims CanadaInsuranceLegalReinsurance

How Fairfax is reserving for COVID-19 business interruption reinsurance charges

August 4, 2021 by Greg Meckbach

The uncertainty around business interruption insurance coverage and the impact of a United Kingdom Supreme Court are among the reasons Toronto-based Fairfax Financial Holdings has put aside more than US$80 million this year in COVID-19 reserves. Fairfax reported July 29

News Insurance

NFP partnership aims to support aerospace clients in Canada

July 28, 2021 by Jason Contant

Large brokerage NFP Corp. has joined forces with Piiq Risk Partners to form an exclusive Canadian partnership. With a strategic focus on the aerospace and aviation industries, the collaboration will provide solutions and services to the Canadian operations of global

News CatastrophesClaimsClimate ChangeReinsurance

Elsa’s forecasted impact on the Maritimes

July 7, 2021 by David Gambrill

Tropical Storm Elsa is tracking to hit the Maritimes this weekend as a post-tropical storm, potentially dumping up to 50 mm of rain in areas of New Brunswick, Nova Scotia and Prince Edward Island. Currently hitting the Gulf Coast of