Claims
Dozens of flood warnings in eastern Australia remain in effect, although heavy rainfall associated with ex-tropical cyclone Oswald and enhanced by a monsoon trough has receded, and the most severe flooding seems to have passed, AIR Worldwide reports. The monsoon trough, an elongated area of low pressure, moved south along the Queensland coast into New […]
By Canadian Underwriter | January 30, 2013
3 min read
Summer storms in Toronto are going to be more intense 30 years from now and warmer weather will increase the demand for air conditioning, according to a consultant’s report discussed Tuesday at the city council’s parks and environment committee. “The operation of critical infrastructure such as the electrical grid, water treatment plants, sewers and culverts, […]
By Canadian Underwriter | January 29, 2013
4 min read
Last year was the second biggest year historically for the insurance-linked securities (ILS) market, with approximately $6.3 billion of bonds brought to market, suggests a new report from Swiss Re. “Investors continued to flock to the largely uncorrelated and attractive risk adjusted returns offered by catastrophe bonds, while sponsors capitalized on the opportunity to cede […]
2 min read
Business and supply chain interruption, natural disasters and fire and explosion have been identified by more than 500 corporate and industrial insurance experts across the Allianz Group as key risks that companies in particular regions and sectors face in 2013. Fire has sparked new interest, moving up on the risk manager’s agenda from tenth in […]
Canadian Underwriter and Swiss Re have teamed up to host a live webinar, entitled the Changing Canadian Risk Landscape, reflecting on natural hazards throughout the country and what Canada can expect for the future. The free webinar, scheduled for Feb. 7 at 12 p.m. EST, will be hosted by Andrew Castaldi, senior vice president and Head of Cat Perils […]
By Canadian Underwriter | January 28, 2013
1 min read
Storms and inundation caused by ex-tropical Cyclone Oswald has resulted in reports of substantial damage in the Wide Bay area of Queensland, Australia and moderate to severe damage in communities from the New South Wales (NSW) border north to Cairns, the country’s insurance council reported Sunday. The severe weather has once again triggered a state-wide […]
Aon Benfield announced Thursday the release of its annual global climate and catastrophe report, noting 2012 was the eighth warmest year since 1880 and the costliest catastrophe worldwide was Hurricane Sandy, while a hailstorm July 12 in Calgary led to claims exceeding $500 million. Impact Forecasting, the Aon Benfield unit that develops software and catastrophe […]
By Canadian Underwriter | January 25, 2013
The Greater Toronto Area (GTA) remains Ontario’s trouble spot for auto despite the fact that the September 2010 reforms are working well on the accident benefits side, Brigid Murphy, president and CEO of The Dominion, said during a speech on Tuesday. Ontario has, in essence, plugged the dike on the accident benefits side, Murphy told […]
By Canadian Underwriter | January 23, 2013
The Travelers Companies Inc. of New York released Tuesday its financial results for 2012, recording a 73% year-over-year increase in net income and a 1% increase in revenues. Net income for 2012 was $2.473 billion on revenues of $25.74 billion. In 2011 Travelers reported net income of $1.426 billion on revenues of $25.446 billion. All […]
Canadian Underwriter and Swiss Re have teamed up to host a live webinar, entitled the Changing Canadian Risk Landscape, reflecting on natural hazards throughout the country and what Canada can expect for the future. The free webinar, scheduled for Feb. 7 at 12 p.m. EST, will be hosted by Andrew Castaldi, senior vice president and Head of Cat […]
By Canadian Underwriter | January 22, 2013
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