Canadian Underwriter

Topic
Markets / Coverages

News CatastrophesInsuranceMarkets / Coverages

Flood risk remains “moderate to major” across Manitoba: infrastructure minister

February 27, 2017 by Canadian Underwriter

Flood risk across Manitoba remains “moderate to major” across the province, the provincial infrastructure minister said on Monday. Manitoba Infrastructure Minister Blaine Pedersen issued the province’s first 2017 flood outlook on Monday, suggesting that levels of spring flooding will be

News InsuranceLegalMarkets / CoveragesPersonal Lines

Manitoba Public Insurance announces higher third party auto liability coverage, up to $10 million

February 27, 2017 by Canadian Underwriter

Manitoba Crown Services Minister Ron Schuler and Manitoba Public Insurance (MPI) announced on Monday that customers in the province will soon be able to purchase higher levels of third party liability insurance coverage. Effective March 1, new $7 and $10

News InsuranceMarkets / CoveragesTechnology

CSIS saw ‘no high privacy risks’ with metadata crunching now under fire: docs

February 27, 2017 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – The national spy service saw little risk to the personal privacy of Canadians in a self-penned evaluation of its secret data-crunching centre – a shadowy program now at the centre of intense controversy, newly released documents show. The

News Commercial LinesInsuranceMarkets / Coverages

XL Catlin to add kidnap, ransom and extortion insurance to aviation policy

February 27, 2017 by Canadian Underwriter

XL Group Ltd. announced Monday it plans to offer a kidnap, ransom and extortion endorsement on its general aviation coverage. That coverage “will be available on an admitted basis” in all 50 states of the United States, pending approval, said

News InsuranceMarkets / CoveragesTechnology

Global organizations will spend US$1.2 trillion on “digital transformation technologies” in 2017: International Data Corporation

February 24, 2017 by Canadian Underwriter

Global organizations will spend US$1.2 trillion on digital transformation this year, with the fastest growth coming from insurance, banking, retail and healthcare providers, International Data Corporation (IDC) said on Thursday. A new update to IDC’s Worldwide Digital Transformation Spending Guide

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesTechnology

RSA Canada posts solid underwriting profit despite nat-Cat events in 2016

February 24, 2017 by Angela Stelmakowich

RSA Canada witnessed increased underwriting profit and a solid combined ratio for 2016 despite what can only be described as a challenging year that featured Canada’s most costly insurable nat-Cat ever and a host of other adverse weather events. “We’re

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Ontario Securities Commission, U.K. regulator sign co-operation agreement on fintech businesses

February 23, 2017 by Canadian Underwriter

The Ontario Securities Commission (OSC) and the United Kingdom’s Financial Conduct Authority (FCA) have signed a new agreement under which fintech businesses in both jurisdictions will be able to seek support from their financial regulators as they look to operate

News CatastrophesClimate ChangeConstructionInsuranceMarkets / Coverages

Two U.S. dams illustrate challenge of maintaining older designs

February 22, 2017 Michael R. Blood - THE ASSOCIATED PRESS

LOS ANGELES – Twelve years ago, widespread destruction from Hurricane Katrina on the Gulf Coast helped compel federal engineers 2,000 miles away in California to remake a 1950s-era dam by constructing a massive steel-and-concrete gutter that would manage surging waters

News InsuranceMarkets / CoveragesProfessional DevelopmentTechnology

Global insurance CEOs concerned about skills shortages and related pace of technological change: PwC survey

February 22, 2017 by Canadian Underwriter

Insurance CEOs have the biggest concerns in the financial services industry over skills shortages and the related pace of technological change, according to a new survey from PwC. The survey, titled Ahead of the curve: Confronting the big talent challenges

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Confront risks of financial technologies to reap benefits: FINTRAC

February 22, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The head of Canada’s financial intelligence unit warns that regulators must grapple with the challenges of emerging financial technologies, some of which he says have been exploited by terrorism and organized crime. But while it’s necessary to safeguard

News InsuranceMarkets / CoveragesProfessional Development

Canadian Reports and US-Reports merge to create risk solutions company Afirm

February 22, 2017 by Canadian Underwriter

H.W. Kaufman Financial Group announced on Wednesday that it has “strategically” combined US-Reports and Canadian Reports, rebranding both companies under the name Afirm. The merger will continue their global presence and allow a single source for loss control inspection, premium

News Commercial LinesInsuranceMarkets / CoveragesTechnology

Global spending on worldwide cloud services and infrastructure to reach US$122.5 billion in 2017: International Data Corporation

February 21, 2017 by Canadian Underwriter

Worldwide spending on public cloud services and infrastructure will reach US$122.5 billion in 2017, an increase of 24.4% over 2016, suggested new research from Framingham, Mass.-based International Data Corporation (IDC). The new update to the IDC’s Worldwide Semiannual Public Cloud