Keyword
Australia
Edmonton fire chief says people must adapt to more wildfires
January 21, 2020 Bob Weber - THE CANADIAN PRESSEDMONTON – In a few weeks, Ken Block will hang up his uniform as head of Edmonton Fire Rescue and head Down Under to assume command of 5,000 firefighters in Australia. “I’m really looking forward to getting over there,” the…
Insured losses from Cyclone Debbie reach AUS$1.5 billion, 85% of claims closed
November 7, 2017 by Canadian UnderwriterInsurers have paid AUS$1 billion in claims related to Cyclone Debbie, with more than 85% of claims now closed, the Insurance Council of Australia (ICA) reported on Monday. Cyclone Debbie now ranks as the second-most expensive cyclone in Australian history,…
Automated driving applications could significantly reduce road trauma in Australia and New Zealand: report
October 10, 2017 by Canadian UnderwriterRoad trauma in Australia and New Zealand could be significantly reduced by the adoption of rapidly developing technologies that change the way drivers use vehicles, new research has found. The report, titled Safety Benefits of Cooperative ITS and Automated Driving,…
Insured property loss estimate for Tropical Cyclone Debbie in Australia up to AU$1.7 billion: PERILS
September 28, 2017 by Canadian UnderwriterPERILS AG has upped its estimate of the property insurance market loss for Tropical Cyclone Debbie, which affected the Australian states of Queensland and New South Wales this spring, to just shy of AU$1.7 billion. The Zurich-based organization’s third loss…
Accidental damage insurance provider ‘forced to bypass insurers,’ plans 2018 Canada launch: Executive Forum speaker
August 31, 2017 Greg Meckbach, Associate EditorA firm once described by its co-founder as being “on the lunatic fringe” of the insurtech market plans to provide, in Canada, insurance covering consumer items for accidental damage, loss and theft starting next year. Trov Inc., which is currently…
Fewer and less intense cat events significantly lower global economic losses to US$44 billion in H1 2017: Swiss Re
August 17, 2017 by Canadian UnderwriterTotal global economic losses from disasters were US$44 billion in the first half of 2017, down significantly from US$117 billion in H1 2016, as a result of fewer and less intense events, according to preliminary sigma estimates from Swiss Re.…
Aon plc net income up to US$769 million in Q2 2017 from US$300 million in Q2 2016
August 8, 2017 by Canadian UnderwriterAon plc has reported a net income attributable to shareholders of US$769 million for the three months ending June 30, a drastic increase from US$300 million in the prior-year period. Total revenue increased 4% to US$2.4 billion from US$2.3 billion…
Arthur J. Gallagher gains presence in Quebec with acquisition of GPL Assurance Inc.
August 4, 2017 by Canadian UnderwriterArthur J. Gallagher (AJG) announced late Thursday that it has “extended its investment in Canada and further diversified it geographic presence” with the acquisition of retail insurance broker GPL Assurance Inc. in Quebec. Terms of the transaction were not disclosed. Established…
Net income for Swiss Re US$1.2 billion in 2017 H1, down from about US$1.9 billion in 2016 H1
August 4, 2017 by Canadian UnderwriterDisciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss…
Digital and app users not waiting around, quick to bail on non-responsive service: Australia research
August 2, 2017 by Canadian UnderwriterA huge divide exists between consumer expectations of their digital service experience and what is being delivered, with three-quarters of recently polled consumers in Australia reporting they will stop trying a digital app or service within a minute if it…
EY report on reforming B.C. auto points to impending restrictions in Australia on auto accident benefits for minor injuries
July 27, 2017 by Canadian UnderwriterA report released April 11 by the Ontario finance ministry “contains many useful learnings” for British Columbia’s government-run auto insurer, Ernst & Young LLP suggested in a report released July 24. In Affordable and Effective Auto Insurance – a New…
Alternate dispute resolution, tripling accident benefits among potential solutions for B.C. auto insurance: EY
July 26, 2017 by Canadian UnderwriterThe process of suing for compensation for motor vehicle accidents “could be made far more efficient” in British Columbia, whose monopoly auto insurer’s basic accident benefits are “low compared to modern medical and rehabilitation costs” in care-based auto insurance schemes…