Risk
June 2007 storms and flash floods in Alberta are expected to exceed Cdn$42 million in insured damages, says the Insurance Bureau of Canada (IBC). “In Calgary alone, there have been 3,094 insurance claims so far as a result of the storms, and insurers expect to pay [Cdn]$42 million to cover these claims,” said Jim Rivait, […]
June 30, 2007
1 min read
The Canadian government has failed to follow the global trend of becoming more involved in mitigating the risk exposure of insurance and reinsurance companies, according to a Guy Carpenter & Company LLC report. While a number of countries have developed explicit schemes or terror pools that address the risks of terrorism, Canada has not implemented […]
Canadian carriers scored lowest in terms of quality of underwriting, policy administration and service when compared to carriers in the United States, London and Bermuda, according to Willis Group’s inaugural Carrier Evaluation Survey. In terms of claims, Canadians nudged ahead of Bermuda-based carriers for third place. The survey asked 2,500 Willis associates from around the […]
Canada’s insurance regulators are working with the industry to establish a foundation for a new principles-based (as opposed to rules-based) approach to regulation, but that doesn’t mean regulators are likely to throw out more prescriptive approaches should they be deemed more appropriate, the executive director of the Financial Services Commission of Ontario (FSCO) told an […]
2 min read
The Property Casualty Underwriters Club (PCUC) held their May luncheon in Toronto at The Metropolitan Hotel, where more than 80 participants enjoyed a panel of speakers discussing ‘The Changing Face of Canadian Reinsurance’. PCUC president Kami Singh, introduced the panel’s speakers, including David Wilmot, past senior vice president and chief agent in Canada for The […]
5 min read
Canadian reinsurers are enjoying a rare moment in history when the financial state of the industry is living up to the Canadian stereotype of stability — and maybe even the reputation of being a little bit dull. “Dare to be dull, dare to be boring — but you make some money,” replies John Kartechner, senior […]
By David Gambrill | June 30, 2007
15 min read
The reinsurance industry is working to keep pace with the automation seen in the primary insurance market
By Craig Harris | June 30, 2007
9 min read
"Fast-money" seeking big returns - money that ultimately lands outside the reinsurance industry - is undermining the long-term viability of the reinsurance market
By David Wilmot, Past Senior Vice President | June 30, 2007
8 min read
Canada's reinsurance market contemplates a new landscape for the transfer of risk, including reduced cessions and downward pressure on primary rates
By Bruce Perry | June 30, 2007
Who'd have thunk it? Earthquakes, hurricanes and floods are not the only perils causing billion-dollar mega-losses.
By Glenn McGillivray | June 30, 2007
6 min read
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