Keyword
Canada
Why you can expect your reinsurance rates to go up on renewal
April 6, 2021 by David GambrillReinsurers in Canada’s P&C industry had a rough time negotiating through COVID last year, with the sector’s overall combined ratio skyrocketing from a profitable 92.6% in 2019 to an unprofitable 103.7% in 2020. Claims costs were a major force behind…
Wawanesa subsidiary acquires Western Financial Group
November 5, 2017 by Canadian UnderwriterTrimont Financial Ltd., a subsidiary of the Wawanesa Mutual Insurance Company, announced on Wednesday the formal closing of its previously announced agreement to purchase Western Financial Group and Western Life Assurance (collectively “Western”) from Desjardins Financial Corporation, a Desjardins Group…
BHSI unveils new offering, follow form for U.S. and Canadian contractors
November 1, 2017 by Canadian UnderwriterBoston-based Berkshire Hathaway Specialty Insurance (BHSI) has announced the availability of a single excess policy that sits atop multiple first- and third-party insurance policies for contractors in the United States and Canada. The new policy provides excess follow form protection…
Hurricanes look to be increasing, drivers of higher related losses less prominent in Canada than in U.S.: AGCS
October 30, 2017 by Angela StelmakowichLower population increase and development in coastal areas of Canada compared to the United States will likely help ensure losses are less likely to increase, suggests Andrew Higgins, technical manager – Americas for Allianz Risk Consulting, LLC. “Certainly, sea level…
Continuing fast pace for insurance M&A in U.S., Canada: OPTIS
October 20, 2017 by Canadian UnderwriterSellers seem to be enthusiastically responding as buyers continue the aggressive valuations of p&c and employee benefits agencies, with OPTIS Partners reporting Thursday there were 132 deals inked during 2017 Q3, bringing the year-to-date total to 457. Chicago-based OPTIS Partners’…
Starr Companies offers commercial primary auto coverages in Canada
October 11, 2017 by Canadian UnderwriterU.S.-based Starr Companies is looking to further support its primary general liability accounts with the announcement that it has introduced commercial primary auto coverage in all provinces and territories across Canada. Beyond better supporting its primary general liability accounts, “this…
Endeavour launches cyber facility, cyber protection becoming key to risk management
October 10, 2017 by Canadian UnderwriterEndeavour Insurance Services is looking to facilitate easier management of risks in the small-medium enterprise (SME) cyber space – while also supporting MGAs, brokers and clients in the U.S. and Canada – with the launch of a new technology and…
Utilities cautioned to act now to strengthen their cyber security defences: Accenture
October 5, 2017 by Canadian UnderwriterUnprepared distribution utilities are urged to immediately begin improving their cyber security capabilities given the anticipated future hike in cyber attacks and the fact that most recently polled utility executives say such an attack could interrupt electricity supply, Accenture suggests…
Turo launches car-sharing marketplace in B.C., partners with car rental entrepreneurs
October 3, 2017 by Canadian UnderwriterTuro, which connects local car owners with travellers looking for adventure and in need of a vehicle, has expanded its car-sharing marketplace into British Columbia. To address provincial insurance regulations, the company has structured the expansion by partnering with local,…
Standard would help enhance flood resilience of new communities: report
September 26, 2017 by Angela StelmakowichResearch out of the University of Waterloo recommends a Canadian standard for new flood-resilient residential communities, one that employs almost two dozen best practices, be developed to bolster protection and reduce water-related losses. Requiring that new homes not be built…
Allied World revises Executive ForceField product for Canadian market
September 12, 2017 by Canadian UnderwriterAllied World Assurance Company Holdings, GmbH (AWAC) has enhanced its Executive ForceField Side A, Lead Difference in Conditions (DIC) product with “Canadian-specific enhancements,” the company has reported. The revised policy, available to companies throughout Canada, was announced in a press…
Equifax says U.S.-focused theft of data touched ‘certain’ Canadian residents
September 8, 2017 The Canadian Press (CPSTF)TORONTO – Credit monitoring company Equifax says that it will work with regulators in Canada and the United Kingdom to determine the appropriate steps following a lapse in cyber security that’s affecting about 143 million people in the United States.…