Reinsurer Swiss Re broke down the scenario in an economic note released on July 15.
This figure does not include the damage from the Lytton, BC forest fires, which will also be in the millions of dollars.
Swiss Re has identified a series of pitfalls for insurers as the post-COVID-19 recovery gets underway.
Aon provides details in its latest monthly recap.
One of the two insurers that still offer long-term care insurance is exiting the market.
The deal substantially enhances the insurer’s presence in the third-party administrator and third-party payor business s
Yet most insurance market segments had a negative outlook for the next 12 months.