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A new seismic model allows U.S. nuclear facilities in the central and eastern United States to reassess their seismic hazards.The model and report, The Central and Eastern United States Seismic Source Characterization for Nuclear Facilities,...
Feb 2, 2012
Floods that devastated Thailand's industrial parks in 2011 have created opportunities for Canadian and other foreign companies to invest in local reinsurers that are in dire need of new capital, A.M. Best says.The flooding in Thailand resulted...
Jan 31, 2012
The Financial Services Commission of Ontario (FSCO) is seeking help from up to four private dispute resolution companies to help eliminate a backlog of files, estimated to be more than nine months as of May 2011. FSCO posted a Request for...
Jan 26, 2012
Canadian commercial insurance rates are expected to remain stable across most lines of business in 2012, continuing a trend that began in the second half of 2011, according to a report by Marsh. In its report Navigating the Risk and Insurance...
Jan 25, 2012
The occurrence of "giant" earthquakes is cyclical, not random, and therefore should cause reinsurers and insurers to reconsider their strategies for underwriting and pricing this risk, an EQECAT report suggests.
Jan 23, 2012
The grounding of a luxury cruise liner off the coast of Italy could result in insured losses of up to EUR400 million (about Cdn$517 million), according to Guy Carpenter. The Costa Concordia ran aground off the coast of Isola del Giglio, in...
Jan 17, 2012
Advances in ‘seismic microzonation' allow underwriters to assess earthquake risk on a property-by-property basis based on a soil analysis of the site, delegates heard at the Canadian Seismic Research Network's Workshop on Seismic Hazard...
Jan 16, 2012
The Ontario Superior Court has found that a direct writer breached its duty of care in offering optional benefits to a consumer. Nevertheless, the court dismissed the claim against Meloche Monnex because it found the claimant would not have...
Jan 13, 2012
A hard market cycle will not likely happen in Canada's property and casualty insurance industry in 2012, according to Philip Cook, president and CEO of Omega Insurance Holdings.Hard insurance markets are characterized by reduced capacity for...
Jan 12, 2012
What if social networks such as Facebook, Myspace or Google+ were to become an insurance channel unto themselves in the next two years?Juergen Weiss, a research director at Gartner, a technology research firm, said this kind of development...
Jan 11, 2012
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