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News Commercial LinesInsuranceLegislation / RegulationMarkets / CoveragesReinsurance

AIG, National Indemnity ink reinsurance agreement covering long-tail prior-year commercial casualty

January 20, 2017 by Canadian Underwriter

American International Group Inc. said Friday it “expects a material prior year adverse development charge” during the three months ending Dec. 31, 2016 and that National Indemnity Company (NICO) has agreed to reinsure 80% of losses on certain reserves for

Italy Avalanche
News CatastrophesInsuranceMarkets / Coverages

Joy erupts as Italian rescuers pull out avalanche survivors

January 20, 2017 Paolo Santalucia and Gregorio Borgia - THE ASSOCIATED PRESS

FARINDOLA, Italy – With cheers of joy, rescue crews pulled survivors from the debris of an avalanche-crushed hotel in central Italy on Friday, an incredible discovery that boosted spirits two days after the massive snow slide buried around 30 people

News Commercial LinesInsuranceLegislation / RegulationMarkets / Coverages

Brexit uncertainties weigh on U.K. insurers but rated entities able to withstand pressure: A.M. Best

January 20, 2017 by Canadian Underwriter

Ratings firm A.M. Best Company said on Friday that it does not anticipate taking any rating actions as a direct result of plans for the United Kingdom to exit the European Union (EU), “although the cost implications of continuing to

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News AssociationsCommercial LinesInsuranceLegislation / RegulationPersonal LinesTechnology

Rule-making authority essential for Ontario’s new FSRA: Cooke

January 20, 2017 by Angela Stelmakowich

Equipping Ontario’s new Financial Services Regulatory Authority (FSRA) with rule-making authority is critically important to ensuring its effectiveness as an independent, flexible and consumer-focused regulator of financial services and pensions, argues George Cooke, chair of the Board of Directors of

Lobster Traps in Twilight
News Commercial LinesInsurance

Canada needs new regulations for commercial fishing vessels of all sizes: TSB

January 19, 2017 by Canadian Underwriter

If fishing vessel operators conduct regular safety meetings, they can review on-board hazards and remind crew of safety precautions, the Transportation Safety Board of Canada suggested in an investigation report released Thursday. TSB – a separate organization from Transport Canada

News CatastrophesInsuranceMarkets / Coverages

Rescuers search for 30 after avalanche hits Italian hotel

January 19, 2017 Colleen Barry, Nicole Winfield and Valentina Onori - THE ASSOCIATED PRESS

PENNE, Italy – Rescue workers reported no signs of life Thursday at a four-star hotel buried by an avalanche in the mountains of earthquake-stricken central Italy. Two bodies were recovered of the estimated 30 people trapped inside as the risk

News CatastrophesClimate ChangeInsuranceMarkets / Coverages

NOAA and partners develop new regional sea level scenarios to help U.S. communities prepare for risks

January 19, 2017 by Canadian Underwriter

The National Oceanic and Atmospheric Administration (NOAA) and its partners have developed new regional sea level scenarios for the United States to give coastal communities better and more localized data to help them plan for and adapt to the risks

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News AssociationsCommercial LinesInsuranceLegislation / RegulationPersonal LinesTechnology

Wider mandate for Ontario’s auto insurance regulator would be welcomed

January 19, 2017 by Angela Stelmakowich

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a

BigMingle-483-291
insPRESS Insurance

Blouin Dunn & -30- Forensic Engineering Thank 2017 Big Mingle Sponsors

January 19, 2017 by -30- Forensic Engineering

On Monday, January 30, 2017, Blouin Dunn and -30- Forensic Engineering will once again be co-hosting the most anticipated insurance industry event of the year: The Big Mingle. For over a decade, this invite-only event draws 600+ senior insurance professionals from all over Canada who are

HKN Sabres Maple Leafs 20170117
News InsuranceMarkets / Coverages

Aviva marketing team-branded home, auto insurance to fans of Raptors, Maple Leafs

January 19, 2017 by Canadian Underwriter

Aviva Canada Inc. announced Wednesday it is offering “team-branded” home and auto insurance directly to fans of Toronto’s Raptors and Maple Leafs teams. In a partnership with Maple Leaf Sports and Entertainment, Aviva Agency Services Inc. will offer and administer

California Drought Over Yet
News CatastrophesInsurance

First of three more storms hits California as drought retreats

January 19, 2017 John Antczak - THE ASSOCIATED PRESS

LOS ANGELES – The worst area of drought in California has significantly narrowed to a small region northwest of Los Angeles that has stubbornly failed to benefit from Pacific storms that have drenched much of the state since the fall

News Climate ChangeInsurance

2016 marks three consecutive years of record warmth for the globe: NOAA

January 19, 2017 by Canadian Underwriter

The year 2016 marked three consecutive years of record warmth for the globe, the National Oceanic and Atmospheric Administration (NOAA) reported on Wednesday. “With a boost from El Niño, 2016 began with a bang,” NOAA said in a press release.