Canadian Underwriter


Feature

The Risk of Terror: Cost on Life

October 1, 2001 by Canadian Underwriter

The images of death and destruction that burned into our consciousness on September 11, 2001, will forever haunt us. Over time, the buildings, airplanes, and property damage can be replaced or repaired, however the horrific and sudden loss of life will always remain with us. The human suffering from this disaster is incalculable. Although life can never be replaced, life insurance can help prevent further financial trauma. Life insurers and life reinsurers are now called upon to make good on promises made to policyholders.

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

When is business, “Business”?

October 1, 2001 Sean van Zyl, Editor

The tragic and unexpected events which unfolded on September 11 of this year when terrorists attacked the World Trade Center, New York City, and the Pentagon in Washington D.C. by using four hijacked jetliners as “flying bombs” has left the

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

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

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

Terry Squire
Feature

Partnerships core to disaster mitigation

June 1, 2001 by Canadian Underwriter

The insurance industry’s natural disaster mitigation body, the institute for Catastrophic Loss Reduction (ICLR), highlighted the value of research and information sharing between the private, public and scientific sectors at its recent annual general meeting. During 2000, the ICLR formalized

Feature

BIRTH OF THE CAT BOND

May 1, 2001 Andrew Rickard

THE FUTURE OF REINSUR ANCE FINANCING

A fierce tornado struck the center of Regina, Saskatchewan on June 30, 1912, killing 28 people and causing $6 million in property damage. Many homes and three churches were totally destroyed and a recently built provincial legislative building was extensively damaged.
Feature

IN THE EYE OF THE STORM

April 1, 2001 Glenn McGillivray, assistant vice president & head of corporate

The prospect of a growing tornado loss potential due to underlying increases in exposed insurable equity coupled with the historical frequency associated with tornadoes do not bode well for the insurance industry’s future.

Feature

2000 cat losses near record low

March 1, 2001 by Canadian Underwriter

The insured cost of catastrophic losses for 2000 in the U.S. fell below the past 10-year average to a low of US$4.3 billion, according to the Insurance Services Office (ISO). Last year’s cat loss in value terms was 53% below