Segment
Reinsurance
The essence and future of WICC
June 29, 2021 by David GambrillEditor’s Note: This article is Part 2 of a two-part story honouring the 25th anniversary of the Women in Insurance Cancer Crusade (WICC). Part 1 appeared in Canadian Underwriter‘s e-Newlsetter on Tuesday, June 29. Women in Insurance Cancer Crusade…
How reinsurance prices could come down
June 29, 2021 by Greg MeckbachRecord-low interest rates are making insurance-linked securities attractive to some investors, and this could be good news for primary insurers. ILS includes but is not limited to catastrophe bonds, said Marcos Alvarez, Toronto-based senior vice president and head of insurance…
Happy 25th, WICC: The light that never goes out
June 28, 2021 by David GambrillEditor’s Note: This article is Part 1 of a two-part story honouring the 25th anniversary of the Women in Insurance Cancer Crusade (WICC). Part 2 will appear in Canadian Underwriter‘s e-Newlsetter on Wednesday, June 30. If Women in Insurance…
Progress report: Canada-wide flood mapping is well underway
June 16, 2021 by Greg MeckbachA nationwide estimate of coastal, pluvial, and fluvial flood hazard is one part of the ongoing effort to come up with a national approach to insuring or re-locating homes at high risk of flood, a federal government official suggests. Flood…
Look back, but not too far: Why some perils need a new approach
June 14, 2021 by Jason ContantThe insurance industry needs to look at the “more recent past” and take a shorter-term view of catastrophic perils to see their effects going forward, Swiss Re told Canadian Underwriter recently. “When we’re looking at recent events, including the 2020…
Why Canada could be in the path of stronger hurricanes in the future
June 7, 2021 by Jason ContantCanada could see heightened hurricane risk in the future, as climate change and fluctuations in ocean temperature are increasing the likelihood of stronger hurricanes making landfall further north, according to Swiss Re. “We see an increased likelihood of intense hurricanes…
Second CEO in 15 months for SCOR Canada
June 3, 2021 by Greg MeckbachSCOR Canada Reinsurance Company is getting a new CEO, Olivier Gay (pictured) the Paris-based reinsurance announced Thursday. The move is effective June 11. Gay succeeds Paul Christoff, whose appointment as CEO of SCOR Canada was announced in February 2020. At…
How P&C insurers are using their muscle to reduce carbon
June 2, 2021 by David GambrillGlobal P&C insurers are not only setting ambitious carbon reduction targets for themselves, but they are also using their investment clout to restrict cover for high polluters in the oil and gas sectors, a commentary released by DBRS Morningstar Wednesday…
Pressure from investors isn’t the only reason insurers are exiting from fossil fuels
June 1, 2021 by Jason ContantMany insurers and reinsurers are considering or actively transitioning away from insuring fossil fuel companies as pressure mounts from investors and clients over environmental, social and governance (ESG) practices. “But pressure from end investors isn’t the whole story,” Tom Johansmeyer,…
Gallagher to acquire certain Willis Towers Watson assets
May 12, 2021 by Jason ContantArthur J. Gallagher & Co. has announced an agreement to acquire certain Willis Towers Watson reinsurance, specialty and retail brokerage operations as part of a proposed “regulatory remedy” for the pending Aon and Willis Towers Watson deal. Under the agreement,…
Canadian primary insurers may align with reinsurers’ new communicable disease exclusions
May 10, 2021 by Jason ContantCanadian insurers may introduce new communicable disease exclusions to harmonize policy language with their revised reinsurance policies, Insurance Bureau of Canada (IBC) said recently. International reinsurance markets introduced a new communicable diseases exclusion in many countries over the past few…
Why IBAC foresees a national flood insurance program
April 28, 2021 by Greg MeckbachThe recently-released federal budget gives brokers reason to be optimistic that Canada will eventually have a national flood insurance program for homeowners, the head of the Insurance Brokers Association of Canada suggests. “The commitment from the federal government is clear…