Claims

Zurich expects business operating loss of about US$100 million in Q4 2015 due to nat cat claims Fallback Image Decorative pattern

Claims

Zurich expects business operating loss of about US$100 million in Q4 2015 due to nat cat claims

Zurich Insurance Group said on Wednesday that it expects its General Insurance business to record a business operating loss in the fourth quarter of 2015, due to natural catastrophe claims, including those related to recent storms and floods in the United Kingdom and Ireland, and a significant level of large losses. As a result of […]

By Canadian Underwriter | January 20, 2016

2 min read

U.S. p&c insurers can expect a challenging 2016, need to emphasize underwriting discipline: p&c forum Fallback Image Decorative pattern

Claims

U.S. p&c insurers can expect a challenging 2016, need to emphasize underwriting discipline: p&c forum

Property and casualty insurers in the United States can expect a challenging 2016, speakers said at the recent 20th annual Property/Casualty Joint Industry Forum, as the diminishing tailwinds of reserve releases struggle against headwinds of low interest rates. Panel members – five senior executives who provided their forecasts and other market insights – pointed out […]

By Canadian Underwriter | January 20, 2016

3 min read

SCOR cat bond covers U.S. named storms, earthquake until end of 2019 Fallback Image Decorative pattern

Claims

SCOR cat bond covers U.S. named storms, earthquake until end of 2019

SCOR SE has sponsored a catastrophe bond whose coverage includes earthquakes in Canada, as well as named storms in the United States. The Atlas IX Series 2016-1 will give the Paris-based reinsurer “multi-year risk transfer capacity of US$300 million to protect itself against US Named Storm and US and Canada Earthquake events,” SCOR said Jan. […]

By Canadian Underwriter | January 19, 2016

2 min read

Nuclear Threat Initiative gives Canada high score on cyber security but much of world’s weapons-grade material ‘still to vulnerable to theft’ Fallback Image Decorative pattern

Claims

Nuclear Threat Initiative gives Canada high score on cyber security but much of world’s weapons-grade material ‘still to vulnerable to theft’

Much of the world’s enriched uranium and plutonium is “too vulnerable to theft” and a cyber attack on a nuclear facility could “facilitate” either theft of nuclear material or sabotage, the Nuclear Threat Initiative warned in a recent report. “Nearly 2,000 metric tons of weapons-usable nuclear materials remain stored around the world, much of it […]

By Canadian Underwriter | January 19, 2016

6 min read