Canadian Underwriter

Segment
Reinsurance


News Insurance

Why Canada could be in the path of stronger hurricanes in the future

June 7, 2021 by Jason Contant

Canada 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

News Appointments

Second CEO in 15 months for SCOR Canada

June 3, 2021 by Greg Meckbach

SCOR 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

News Climate ChangeInsuranceRisk

How P&C insurers are using their muscle to reduce carbon

June 2, 2021 by David Gambrill

Global 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

News Insurance

Pressure from investors isn’t the only reason insurers are exiting from fossil fuels

June 1, 2021 by Jason Contant

Many 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,

News Insurance

Gallagher to acquire certain Willis Towers Watson assets

May 12, 2021 by Jason Contant

Arthur 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,

News Insurance

Canadian primary insurers may align with reinsurers’ new communicable disease exclusions

May 10, 2021 by Jason Contant

Canadian 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

News BrokersCatastrophesClaimsClaims CanadaInsuranceLegislation / Regulation

Why IBAC foresees a national flood insurance program

April 28, 2021 by Greg Meckbach

The 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

News Insurance

Where insurers stand on OSFI’s reinsurance rules

April 28, 2021 by Jason Contant

Although proposed draft reinsurance rules from the federal solvency regulator have not been finalized, the president and CEO of Insurance Bureau of Canada (IBC) is indicating that the regulator and Canadian P&C insurers may be bridging the gap. “I take

News AdjustersBrokersEmploymentInsuranceProfessional Development

How to build empathetic managers for the hybrid workplace

April 16, 2021 by David Gambrill

Canadian property and casualty insurance industry leaders have often talked about the importance of managing with empathy during the pandemic, but empathic managers will become even more valuable in the hybrid workplaces that are expected to emerge after the pandemic

News ClaimsEarnings / RatingsInsuranceReinsurance

Why you can expect your reinsurance rates to go up on renewal

April 6, 2021 by David Gambrill

Reinsurers in Canada’s P&C industry had a rough time negotiating through COVID last year, with the sector’s overall combined ratio skyrocketing from a profitable 92.6% in 2019 to an unprofitable 103.7% in 2020. Claims costs were a major force behind

News InsuranceMarkets / CoveragesRiskTechnology

The future of carbon removal insurance: As big as oil and gas?

April 1, 2021 by David Gambrill

Carbon removal is poised to become a booming industry over the next 30 years, providing an opportunity for innovative P&C insurers to pioneer in carbon removal insurance products, Swiss Re’s chief risk officer predicts. “By 2050, the industry of carbon

News CatastrophesClaimsInsuranceReinsuranceRisk

Pandemic distraction: Is Canada ready for the next big disaster?

March 30, 2021 by David Gambrill

Focused narrowly on responding to the COVID-19 global pandemic — and preparing for the next one — Canada may be losing sight of preparing for other, potentially more likely disaster scenarios, P&C insurance industry executives commented at the Swiss Re