Dickson Says Catastrophe Bonds Can Help Insurers
Julie Dickson, Canada’s top financial industry regulator, said insurance-linked securities such as catastrophe bonds can be helpful in managing risks of major losses.
Dickson, who heads the Ottawa-based Office of the Superintendent of Financial Institutions, said in a speech today there has been an increase in the “frequency and severity” of such losses.
“Catastrophe bonds can be used to help companies to reduce exposure to certain risks, including earthquakes,” Dickson said in the text of the speech she’s giving to a conference of insurers near Ottawa. Such bonds “can be a good addition to an insurer’s risk management program.”
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