Canadian Underwriter

Topic
Legislation / Regulation

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News InsuranceLegislation / RegulationMarkets / CoveragesReinsurance

Munich Re, Insurance Europe welcome U.S.-EU covered agreement

January 20, 2017 by Canadian Underwriter

Munich Re and Insurance Europe are welcoming the successful conclusion of “covered agreement” negotiations between the United States and the European Union. Munich Re said in a press release on Thursday that “finalizing the agreement is an important step to

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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

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

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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

Supreme Court of Canada building with blue sky
News InsuranceLegalLegislation / RegulationMarkets / Coverages

Damages claim against provincial energy board a ‘dramatic jurisprudential development:’ Judge

January 18, 2017 by Canadian Underwriter

A recent Supreme Court of Canada decision leaves “open the possibility that members of a quasi-judicial regulatory board could be sued for damages” by someone accusing that board of violating their constitutional rights, a constitutional law professor told Canadian Underwriter

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News Commercial LinesInsuranceLegislation / Regulation

TT Club offers advice on packaging, securing coiled materials in containers

January 17, 2017 by Canadian Underwriter

Specialist freight transport insurer TT Club has issued specific guidance on packing and securing coiled materials in containers in a bid to prevent the costly and potentially injurious consequences of improperly secured coils. Investigations into incidents along the international supply

Supreme Court of Canada
News InsuranceLegalLegislation / Regulation

Alberta Energy Resources Conservation Board immune from $50,000 lawsuit alleging Charter rights violations: Supreme Court

January 16, 2017 by Canadian Underwriter

Laws that shield quasi-judicial decision makers and public inquiry officials from personal damages claims are meant to protect their impartiality, a Supreme Court of Canada judge suggested in a ruling released Friday. Jessica Ernst sought a remedy of $50,000 from

Fiat Chrysler-Diesel Emissions
News InsuranceLegalLegislation / RegulationPersonal LinesTechnology

Fiat Chrysler Automobiles receives notice of violation for alleged failure to disclose software that increases air pollution from vehicles

January 13, 2017 by Canadian Underwriter

The U.S. Environmental Protection Agency (EPA) announced on Thursday that it has issued a notice of violation to Fiat Chrysler Automobiles N.V. and FCA US LLC (collectively FCA) for allegedly failing to disclose software that increases air pollution from vehicles.

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News InsuranceLegislation / Regulation

Complexity, speed of change of emerging risk exposures placing greater attention on effectiveness of ERM strategies, new report says

January 9, 2017 by Canadian Underwriter

The complexity and speed of change of emerging risk exposures are placing greater attention on the effectiveness of enterprise risk management (ERM) strategies across all industry sectors, according to a newly released report. The report, titled Communicating the Value of

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News Commercial LinesInsuranceLegalLegislation / RegulationMarkets / Coverages

Lawsuit against employers by federal worker, arising from head injury, may reach Supreme Court of Canada

January 9, 2017 by Canadian Underwriter

The Supreme Court of Canada is scheduled to announce Thursday whether it will hear an appeal over the question of whether the restriction, in a provincial workers’ compensation plan against suing employers, also applies to federal workers subject to the

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News CatastrophesEarnings / RatingsInsuranceLegalLegislation / RegulationTechnology

Increased cyber espionage, data integrity attacks part of global threat landscape in 2017: Stroz Friedberg

January 5, 2017 by Canadian Underwriter

Top cyber threats in the coming year include nation state cyber espionage, a rise in data integrity attacks and more attacks harnessing Internet of Things (IoT) devices, Stroz Friedberg, an Aon company, notes in its 2017 Cybersecurity Predictions report. “We