Canada

Incorporating flood/catastrophe models into pricing and underwriting

Research report proposes new methodology to assist Canadian actuaries

WHITE PAPER  | 

Water damage claims and climate-related perils have recently emerged as the largest claims costs facing property insurers in Canada. Canadian insurance companies have responded with the development and introduction of flood endorsements for property protection to the market.

Published in July 2018, this research report is prepared to assist Canadian actuaries in developing recommendations for pricing methodologies and underwriting approaches that incorporate the use of catastrophe model results. It provides a comprehensive evaluation of different methodologies for incorporating catastrophe modeling into ratemaking and underwriting as well as providing a proof of concept illustration of one potential solution for the industry.

Sponsored by the Canadian Institute of Actuaries, the Casualty Actuarial Society and the Society of Actuaries, the research team included Jim Christie and Stanley Caravaggio of RSM Canada and George Davis, Stacey Gotham and Alan Frith from AIR Worldwide.

Download the research report here

AUTHORS


Subscribe to our newsletters

Subscribe


HOW CAN WE HELP YOU?

Contact us by phone +1.855.420.8473 or submit your questions, comments or proposal requests


Events

IN-PERSON EVENT

In-Person Events

We proudly sponsor and participate in events that provide innovative ideas and opportunities for you to improve and grow your business.

IN-PERSON EVENT

HST Breakfast Session - Opportunities for NPOs and charities

Join our breakfast seminar on December 4 to gain insight into the latest developments and best practices relating to HST.

  • December 04, 2018