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Chelsea Avondale acquires Max Canada’s Canadian operations

December 5, 2016 by Canadian Underwriter

Chelsea Avondale has acquired MAX Canada Insurance Company, which will continue to serve faith-based and Anabaptist communities under its existing name. Closing Nov. 30, the purchase included the acquisition of all MAX Canada-related operations in Canada, including Mutual Aid Insurance

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News CatastrophesClimate ChangeCommercial LinesInsurancePersonal Lines

Losses from Desmond floods in U.K. estimated at £604 million: PERILS

December 5, 2016 by Canadian Underwriter

The fourth and final insured property market loss estimate flowing from U.K. flooding in the wake of storm Desmond in late 2015 is £604 million, reports PERILS AG. Desmond and other low-pressure systems caused effects over a three-week period from

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Insurance provisions in Ontario home inspector licensing bill helps reduce sellers’ liability exposure: MPP

December 2, 2016 by Canadian Underwriter

A bill before the Ontario legislature could pave the way for regulations “prescribing the types of insurance” that home inspectors must have, and also proposes to prohibit people from performing home inspections without a licence. Bill 59 was generally well

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First above-normal Atlantic hurricane season since 2012 produced five landfalling U.S. storms: NOAA

December 1, 2016 by Canadian Underwriter

The first above-normal Atlantic hurricane season since 2012 has produced five landfalling storms in the United States, the National Oceanic and Atmospheric Administration (NOAA) said on Wednesday. The Atlantic, eastern Pacific and central Pacific 2016 hurricane seasons ended on Nov.

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Insurers that carry out a significant acquisition outperform their peers, with the strongest outperformance in North America: study

December 1, 2016 by Canadian Underwriter

Insurance firms that carry out a significant acquisition outperform their peers, with the strongest outperformance seen in North America, followed by Europe and Asia-Pacific, according to a new study. Based on analysis from Willis Towers Watson (WTW) and the University

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New Brunswick expecting more snow, rain as crews work to restore power

December 1, 2016 The Canadian Press

FREDERICTON, N.B. – New Brunswickers are bracing for another round of messy, wet weather while thousands of residents are still without power following a storm earlier in the week. Environment Canada issued snowfall and flood warnings for much of the

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Fitch changes U.S. P&C insurance industry outlook to negative from stable

November 30, 2016 by Canadian Underwriter

Fitch Ratings has changed the fundamental sector outlook for the United States property and casualty insurance industry to negative from stable, reflecting recent declines in profitability and anticipated further earnings deterioration in 2017 due to more competitive market conditions. Fitch

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Collisions claims continue to inch up overall: Allstate Canada study

November 30, 2016 by Canadian Underwriter

Auto collisions claims among Allstate Insurance Company of Canada customers in four provinces rose 1.7% over the previous study period, reflecting increases in some jurisdictions and decreases in others. Results of the eighth annual Allstate Canada Safe Driving Study show

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Death toll in storms sweeping southern U.S. increases to five

November 30, 2016 Bill Fuller and Rebecca Yonker - THE ASSOCIATED PRESS

Possible tornadoes swept through parts of Alabama and Tennessee overnight, killing five people and injuring more than a dozen as heavy rains from storms moving across the South produced flooding in areas previously suffering from months of drought. Possible tornadoes

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Calgary city council changes rules to accommodate Uber operations

November 29, 2016 The Canadian Press

CALGARY – The ride-hailing service Uber is now free to do business in the City of Calgary. City council has voted to amend its rules, meaning the fee structure for ride sharers would now be scalable and the application process

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Wildfires scorch tourist area in Tennessee; thousands flee

November 29, 2016 Steve Megargee and Jonathan Mattise - THE ASSOCIATED PRESS

PIGEON FORGE, Tenn. – Wildfires fueled by high winds roared through parts of the Great Smoky Mountains, burning the doorstep of the Dollywood theme park, destroying a resort and chasing thousands of people from their homes. National Guard troops arrived

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Transport Canada does not systematically consult with stakeholders like insurers on vehicle safety standards: Auditor General

November 29, 2016 by Canadian Underwriter

Transport Canada (TC) does not develop motor vehicle safety standards to respond to emerging risks and issues in a timely manner and does not systematically consult with important stakeholders, such as insurers, according to the Auditor General of Canada’s latest