Canadian Underwriter


Feature

The Risk Of Terror

October 1, 2001 Sean van Zyl, Editor

Terrorism, and the cost of terror, has taken the forefront of catastrophic loss concerns of the global insurance industry. Until September 11 of this year, when acts of terrorism perpetuated in New York City and Washington D.C. brought about destruction

Feature

Terrorist attacks declared largest insured single loss

October 1, 2001 by Canadian Underwriter

In the face of rising loss estimates, insurers worldwide are beginning to process claims from the September 11 terrorist attacks that took place in the U.S. Early estimates of the total insured loss vary from US$25 billion to almost $60

News Insurance

Several insurers/reinsurers reveal WTC loss estimates

September 13, 2001 by Canadian Underwriter

A number of global insurers and reinsurers have released early loss estimates totaling more than US$4 billion relating to the tragic devastation of New York City’s World Trade Center (WTC) as a result of terrorist attacks carried out this past

Feature

Managing Global Risks: Running for Cover

August 1, 2001 Vikki Spencer

An earthquake in Peru. The fall of the argentinean economy. tropical storm allison strikes several american states. Political tensions flare in the middle east. for the average canadian, these events seem a world away, having little impact on day-to-day life. But, for the average canadian company, these events can have a profound effect on the bottom-line. With the growth of canadian exports and domestic companies stretching their wings to establish operations beyond the border, managing these new international risks is a minefield of potential losses. and, with insurance rates hardening on a global scale and few companies willing to offer bundled international coverage, today’s corporate risk managers could find themselves scrambling for cover.

News Insurance

Swiss Re enters into unique "risk swap" agreement

July 12, 2001 by Canadian Underwriter

Swiss Re, the parent company of Swiss Re Canada, has entered into a unique "risk swapping" agreement with Japanese insurer Tokio Marine and Fire, through Tokio Millennium Re of Bermuda. The catastrophe risk swapping deal, worth US$450 million covers losses

Feature

Canadian reinsurers: AT PURGATORY’S GATE

July 1, 2001 Sean van Zyl, Editor

Last year may have been a period in “hell” for global reinsurers. after seven consecutive years of declining rate adjustments spurred by weak market conditions, reinsurers were struck a double whammy of soaring catastrophic losses and a sudden reduction in retrocession capacity. action had to be taken, and was taken with treaty renewal rates rising around the globe. However, if last year was “hell”, then this year the industry must face “purgatory”, where the sins of the past will be tested against the resolve of reinsurers to implement the necessary premium rate adjustments desperately needed to regain profitability.

Illustration: the Image Bank
Feature

WHAT COMES AROUND…

July 1, 2001 by Canadian Underwriter

The reason for cyclical rate peaks and valleys in the international insurance and reinsurance market always comes down to the issue of supply.; By Glenn McGillivray, assistant vice president & head of corporate communication at Swiss Reinsurance Co. Canada

Feature

Future for insurance risk securitizations immense

July 1, 2001 by Canadian Underwriter

A recently released Swiss Re Sigma report titled “Capital Market Innovation in the Insurance Industry” suggests that the value of alternative risk securitization solutions will increase tenfold by 2010. The report notes that approximately US$12.6 billion has been funneled into

Feature

Flying High Against Diversity

July 1, 2001 Vikki Spencer

In a time when insurers are cutting costs, including those associated with claims handling, it is difficult to say any adjuster is “flying high”. But Keith Edwards is one exception. Not only will he take over as president of the Canadian Independent Adjusters Association (CIAA) this year, but the licensed pilot also has high hopes for his profession. Edwards says this time of “belt tightening” is an opportunity for independents to prove their efficiency and expertise.

News Insurance

Earthquake shakes Yukon residents

June 27, 2001 by Canadian Underwriter

An earthquake measuring 5.7 on the Richter Scale shook residents of Haines Junction and Burwash Landing which are located in Destruction Bay, the southwest section of the Yukon Territory during the early hours of yesterday morning. The shaker’s epicenter was

News Insurance

Swiss Re report predicts explosive growth in risk securitization products

June 14, 2001 by Canadian Underwriter

A recently released Swiss Re Sigma report titled "Capital Market Innovation in the Insurance Industry" suggests that the value of alternative risk securitization solutions will increase tenfold by 2010. The report notes that approximately US$12.6 billion has been funneled into

Feature

BIRTH OF THE CAT BOND

May 1, 2001 Andrew Rickard

THE FUTURE OF REINSUR ANCE FINANCING