Claims
Facultative reinsurers are exploring capital markets techniques that could boost their competitive position in hard markets, while at the same time allowing underwriters to reduce excess capital in soft markets, Benfield has written in the 08 edition of The Fac Report.”Structured as financial options, such market-based products in effect enable reinsurers to put down an […]
By Canadian Underwriter | December 13, 2007
2 min read
Only a small proportion of the 2007 flood losses in the United Kingdom was ceded to reinsurers, while most of the damage losses were absorbed by the direct insurance industry, a Guy Carpenter report says.According to the report, Wrong Type of Rain: Impact and Implications of 2007 UK Floods, two factors determined the allocation of […]
1 min read
Aon Re Global Fac has launched a reinsurance private clients suite model consisting of facultative insurance professionals in 15 different locations around the world.This approach to global cedants is a component of the Aon Re Global’s Integrated Capital Solutions and Services strategy.”By offering the Private Clients Suite, we can focus on building strategic and consultative […]
By Canadian Underwriter | December 12, 2007
Colorado State University (CSU)’s Tropical Meteorology Project is calling for somewhat above-average Atlantic basin hurricane activity in 2008.A new report provides the team’s first extended-range forecast for the 2008 hurricane season. It anticipates 13 named storms forming in the Atlantic basin between June 1 and Nov. 30.Seven of the 13 storms are predicted to become […]
By Canadian Underwriter | December 10, 2007
The Insurance Bureau of Canada (IBC) on Jan. 1, 2008 is launching a project that will accurately track domestic oil spills in Atlantic Canada for the first time. The data will be provided to governments as part of an effort to introduce and strengthen legislation for the installation, maintenance and replacement of domestic oil tanks.”IBC […]
By Canadian Underwriter | December 6, 2007
The Insurance Brokers Association of Ontario (IBAO) has launched a new feature of its online function, ‘Locate a Broker,’ which now allows consumers to search for a broker representing a specific insurance company.”Using a broker is all about having access to choice, and by expanding the search criteria on our web site, we are inviting […]
By Canadian Underwriter | December 5, 2007
Insurers need to work to improve homeowners’ risk perception of sewer backups in order to increase their mitigative efforts, says new research from the Institute for Catastrophic Loss Reduction (ICLR).The ICLR surveyed 805 homeowners in Edmonton and Toronto with the aim of investigating perceptions related to the sewer backup component of urban flooding and mitigative […]
As a result of climate change and urban development, as many as 150 million people in the world’s major cities could be reliant on flood defenses by 2070 more than three times the 40 million people who face such exposure today, according to a new study by the OECD.The study was jointly authored by Risk […]
By Canadian Underwriter | December 4, 2007
The recent subprime mortgage crisis exposed narrowly focussed risk management programs in financial institutions around the world, which could lead to overreactions when unforeseen or damaging events arise, a TowerGroup report notes.In “Multifunctional Integration: The Positive Side of Risk,” researchers noted that most financial services institutions are predominantly risk-averse. But as the balance between product […]
Lloyd’s has dedicated Cdn$100,000 a year, for the next ten years to help sponsor the Institute for Catastrophic Loss Reduction (ICLR)’s latest endeavour hosting and managing an international Integrated Research on Disaster Risk program. The announcement was made at a Toronto event celebrating the 75th anniversary of Lloyd’s conducting business in Canada. Paul Kovacs, ICLR’s […]
By Canadian Underwriter | November 30, 2007
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