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Volcanic eruption could cost large cities up to US$30 billion, new Swiss Re model says

March 27, 2017 by Canadian Underwriter

Total economic losses from volcanic eruptions could cost large cities up to US$30 billion, according to a new volcano model from Swiss Re. Calling it the “world’s first global volcano model,” the probabilistic model assesses risk in the case of

News CatastrophesCommercial LinesInsurancePersonal Lines

Severe weather outbreaks in U.S. in February lead to billion-dollar payout for insurance industry: Aon Benfield

March 8, 2017 by Canadian Underwriter

Prolific severe weather outbreaks in the United States lead to an expected billion-dollar payout for the insurance industry as no fewer than five outbreaks of severe weather impacted portions of the country during February, according to Impact Forecasting’s latest Global

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Nearly half of global insurers expect to acquire new technologies through M&A in the next three years: Willis Towers Watson survey

February 17, 2017 by Canadian Underwriter

Nearly three-quarters of global insurers (74%) believe that their sector has failed to show leadership in digital innovation, according to a new survey by Willis Towers Watson (WTW) released on Thursday. The report, titled New horizons: How diverse growth strategies

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Sea kidnappings rise in 2016 despite plummeting global piracy, report says

January 10, 2017 by Canadian Underwriter

More crew members were kidnapped at sea in 2016 than in any of the previous 10 years, despite global piracy reaching its lowest levels since 1998, the International Chamber of Commerce’s International Maritime Bureau (IMB) reported on Tuesday. In its