How bad the industry’s loss has been in 2019 so far
September 13, 2019 by Greg MeckbachThe 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…
The real reason for spike in cyber claims
June 17, 2019 by Greg MeckbachThe 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…
Why it’s hard for insurers to price cyber risk
May 1, 2019 by Greg MeckbachIt’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…
The ‘touchy topic’ in Canadian home insurance
September 6, 2018 by Greg MeckbachLack 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…
Adverse development charge highlights AIG’s challenges with longer tail commercial lines: A.M. Best
January 27, 2017 by Canadian UnderwriterA 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…