Keyword
Commercial Risk Management
Share of AIG’s new and renewal U.S. Casualty portfolio to be ceded to Swiss Re
March 10, 2016 by Canadian UnderwriterAmerican International Group, Inc. (AIG) announced on Wednesday that it has entered into a two-year reinsurance arrangement with Swiss Re, under which a share of AIG’s new and renewal U.S. Casualty portfolio will be ceded to the reinsurer. The arrangement…
Saskatchewan government won’t create special regulations for Uber
March 9, 2016 CKOM - THE CANADIAN PRESSSASKATOON – The provincial government has told the City of Saskatoon that it won’t be creating special regulations for ride-sharing companies such as Uber. The news was delivered to a meeting of the city’s transportation committee in a report from…
Pace of technological change, social unrest top risks for global airline C-suite executives: Willis Towers Watson
March 9, 2016 by Canadian UnderwriterAn inability to keep up with the pace of technological change is the number one risk for global airlines, according to the preliminary findings of a new survey of senior executives by Willis Towers Watson. Social unrest, involuntary migration and…
Insurance costs ‘will only increase’ without ‘immediate action’ on greenhouse gas reduction: Ontario Liberals
March 9, 2016 by Canadian UnderwriterOntario’s ruling Liberals suggest that immediate action is needed on greenhouse gas reduction due to extreme weather caused by climate change, but opposition politicians are characterizing the proposed cap-and-trade system as a “slush fund.” Bill 172, Climate Change Mitigation and…
Bank of Canada holds key interest rate as Ottawa preps for fiscal boost
March 9, 2016 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The Bank of Canada is sticking with its key interest rate as it waits to assess economy-boosting measures expected in the upcoming federal budget. The central bank kept its trend-setting interest rate locked at 0.5 per cent in…
U.S. winter storm that affected eastern Canada estimated to cost millions of U.S. dollars in economic losses: Impact Forecasting
March 9, 2016 by Canadian UnderwriterTotal economic losses from the late February winter storm in the United States that was felt in eastern Canada are estimated in the millions of dollars (U.S.), according to Impact Forecasting’s latest Global Catastrophe Recap. The report, released on Tuesday,…
More political risk reductions than increases on Aon’s 2016 emerging markets map
March 9, 2016 by Canadian UnderwriterFor the first time in the last three years, more countries on the Aon Political Risk Map 2016 for emerging markets show political risk reductions than increases, although continued low oil prices is exacerbating political risk in already-fragile states. “Anti-corruption…
Markel Canada cyber coverage includes network interruption
March 8, 2016 by Canadian UnderwriterMarkel Insurance Company of Canada recently announced a cyber risk product that includes a cyber risk help line provided by NetDiligence and access to the response team at law firm Fasken Martineau. Markel stated March 2 that its new cyber…
Departing AIG CEO commercial Doyle hired as president of Marsh
March 8, 2016 by Canadian UnderwriterJohn Q. Doyle will be president of Marsh Inc. effective April 15, the New York City-based commercial brokerage announced Monday. American International Group Inc. announced December 10 that Doyle – then chief executive officer for commercial insurance at AIG –…
U.S. Federal Insurance Office requests voluntary data from insurers on participation in Terrorism Risk Insurance Program
March 8, 2016 by Canadian UnderwriterThe U.S. Department of the Treasury’s Federal Insurance Office (FIO) has published a notice in the Federal Register requesting that insurers voluntarily submit certain insurance data and information regarding their participation in the Terrorism Risk Insurance Program (TRIP). Section 111…
Alberta set to roll out climate change legislation, details on $3B carbon tax
March 7, 2016 Dean Bennett - THE CANADIAN PRESSEDMONTON – Details of who pays what when Alberta brings in a new $3-billion a year carbon tax are to be released in the upcoming legislature session, says government house leader Brian Mason. Mason said the session, which begins Tuesday,…
Increased risks of ransomware, rise of IoT challenging Canadian organizations: KPMG
March 7, 2016 by Canadian UnderwriterIncreased risks of ransomware and extortion-driven attacks as well as the rise of the Internet of Things (IoT) are challenging Canadian organizations in new ways, according to a recent report from audit, tax and advisory services firm KPMG LLP. KPMG…