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Underwriting drives U.S. regional P&C insurer returns: Fitch

March 7, 2016 by Canadian Underwriter

Pricing improvements over several years in underwriting portfolios have propelled returns for regional property and casualty insurers in the United States, credit ratings and research company Fitch Ratings said on Friday. The ability to implement further pricing actions in a

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Co-ordinated effort limited contractor fraud following 2013’s F-5 tornado in Oklahoma

March 7, 2016 by Canadian Underwriter

Unprecedented planning and co-ordinated efforts by state and local authorities, law enforcement and the insurance industry provided the means to protect the public from fly-by-night contractors, suggests the National Insurance Crime Bureau (NICB). “Preparation in advance of the F-5 tornado

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Premiers agree carbon pricing to be part of overall climate plan

March 4, 2016 Bruce Cheadle - THE CANADIAN PRESS

VANCOUVER – Prime Minister Justin Trudeau and the provincial premiers managed to bridge deep divides over carbon pricing Thursday en route to Canada’s first national consensus on pursuing climate policy. But the deal hammered out in Vancouver by Trudeau and

News Insurance

Internet of Things to move toward mainstream adoption this year: Gartner

March 4, 2016 by Canadian Underwriter

Although less than a third (29%) of responding organizations are currently using the Internet of Things (IoT), an additional 14% are planning to implement it in the coming 12 months, according to a survey released on Thursday by Gartner Inc.

News Insurance

XL Catlin appoints Nick Greggains as CEO of Canadian insurance operations

March 4, 2016 by Canadian Underwriter

XL Catlin announced on Friday the appointment of Nick Greggains as chief executive officer of XL Catlin’s Canadian insurance operations. In his new role, Greggains leads XL Catlin’s regional business strategy and guides the development and delivery of innovative insurance

News CatastrophesInsuranceMergers and Aqcuisitions

GC Securities completes cat bond notes on behalf of XL Insurance

March 4, 2016 by Canadian Underwriter

For the first time since XL Group plc’s acquisition of Catlin Group Limited, XL Catlin has utilized the 144A cat bond market as part of catastrophe bond Galileo Re Ltd., which provides aggregate protection against, among other things, earthquakes affecting

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Trillium Mutual launches data breach and cyber coverage for agriculture, commercial lines

March 4, 2016 by Canadian Underwriter

Trillium Mutual Insurance Company has partnered with The Boiler Inspection and Insurance Company of Canada (HSB BI&I) to launch two new products for small to medium-sized commercial and agricultural operations. Providing indemnity for first-party expenses and third-party costs of defence,

News InsuranceMergers and Aqcuisitions

Cloud security both a benefit, cause for concern: U.S. survey

March 4, 2016 by Canadian Underwriter

Surveyed enterprises in the United States suggest that security of the cloud infrastructure figures prominently as both a benefit and a challenge, suggests a new poll conducted by B2B research firm Clutch. Medium and large enterprises appear to have mixed

News InsuranceMergers and Aqcuisitions

U.S. P&C insurers see value in predictive analytics: Willis Towers Watson survey

March 3, 2016 by Canadian Underwriter

More than four in five property and casualty insurers in the United States that have already implemented predictive models have recognized a positive impact on their carrier’s profitability, according to a survey released by Willis Towers Watson. The 2015 Predictive

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ICBC allows customers to request driving records online

March 3, 2016 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) announced on Thursday that it has launched a new online tool that allows customers to now request their driving records online and immediately receive them by email. In 2015, ICBC customers requested more

News CatastrophesInsurance

Underinsured furniture vendor loses lawsuit against landlord arising from water damage

March 3, 2016 by Canadian Underwriter

The Court of Appeal for Ontario recently ruled against a furniture and lighting fixture dealer, whose premises were flooded, based in part on a trilogy of Supreme Court of Canada rulings from the 1970s involving agreements to insure between landlords

News CatastrophesInsuranceMergers and Aqcuisitions

Alberta government provides grants to support fire and emergency preparedness training

March 3, 2016 by Canadian Underwriter

The Government of Alberta announced on Wednesday that it will provide $650,000 to 50 municipalities and four First Nations to support fire and emergency preparedness training. The Fire Services Emergency Preparedness Program provides grant funding to municipalities and First Nations