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Why insurers say auto premiums could come down

September 18, 2019 by Greg Meckbach

Auto premiums in Canada rose more than 10% last year as loss ratios continue to climb, but some carriers are thinking about what to do if auto revenues come back down, an industry watcher suggests. “Some companies have indicated to

News Insurance

What’s driving the brokerage acquisition trend

September 17, 2019 by Greg Meckbach

Now is a good time for brokerages to sell their businesses and in some cases, the buyers come from outside the industry, speakers told insurance professionals at the recent A.M. Best briefing. “If I was in the [P&C] business I

News Insurance

Insurtechs ‘hitting this wall called regulation’

September 16, 2019 by Greg Meckbach

Despite the hoopla over insurtech, the Amazon model of commerce is not about to replace the broker any time soon, analysts with A.M. Best Company Inc. told Canadian insurance professionals. “A lot of what these insurtech companies are getting to

News Insurance

How bad the industry’s loss has been in 2019 so far

September 13, 2019 by Greg Meckbach

The Canadian property and casualty industry lost money on underwriting during the first six months of 2019 – a performance worse than 2016, when Fort McMurray was devastated by wildfire, A.M. Best Company Inc. reported Friday. “2019 could be another

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The real reason for spike in cyber claims

June 17, 2019 by Greg Meckbach

The number of reported cyber claims has jumped significantly, but it’s not because of the major breaches you’ve been reading in the headlines. Small to mid-sized organizations are at greater risk of cyber losses than large organizations, A.M. Best Company

News InsuranceTechnology

Why it’s hard for insurers to price cyber risk

May 1, 2019 by Greg Meckbach

It’s hard for an insurance company to price cyber because clients are reluctant to report losses, industry experts suggest. “You need historical incidents to understand the types of events out there,” Scott Stransky, assistant vice president and principal scientist in

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The ‘touchy topic’ in Canadian home insurance

September 6, 2018 by Greg Meckbach

Lack of flood coverage in high-risk areas raises the controversial question of whether owners of high-risk properties should have their insurance premiums subsidized. Overland flood coverage was generally unavailable on home insurance policies in Canada until 2015. Now dozens of

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Adverse development charge highlights AIG’s challenges with longer tail commercial lines: A.M. Best

January 27, 2017 by Canadian Underwriter

A week after American International Group Inc. announced it expects to report next month a “material prior year adverse development charge” for Q4 2016, A.M. Best Company Inc. has placed the long-term issuer credit rating of the New York City-based