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Commercial premiums down 15% for AIG
August 3, 2017 by Canadian UnderwriterAmerican International Group Inc. reported Wednesday its net income was $1.13 billion during the three months ending June 30 and its Q2 combined ratio in personal insurance improved 5.9 points from last year, but the combined ratio in commercial insurance…
U.S. earthquakes estimated to cost US$6.1 billion annually in building stock losses
June 26, 2017 by Canadian UnderwriterEarthquakes are estimated to cost the United States US$6.1 billion annually in building stock losses, according to an updated report published last week by the Federal Emergency Management Agency (FEMA). The new loss estimate represents a 10% increase over the…
Slice launches “first on-demand insurance platform” for homeshare hosts in 13 states
June 1, 2017 by Canadian UnderwriterSlice Labs Inc., a technology company offering what it calls “the first on-demand insurance platform in the United States,” announced on Wednesday the launch of their homeshare insurance product in 13 states. Homeshare hosts in 13 states – California, Colorado,…
Nearly 6.9 million U.S. homes at risk of hurricane storm surge damage in 2017: CoreLogic
June 1, 2017 by Canadian UnderwriterNearly 6.9 million homes along the Atlantic and Gulf coasts in the United States are at potential risk of damage from hurricane storm surge inundation, according to CoreLogic’s 2017 Storm Surge Report. On Thursday, the global property information, analytics and…
As U.S. threatens withdrawal, feds still committed to Paris Accord, McKenna says
May 31, 2017 The Canadian PressTORONTO – As the U.S. flirts with fleeing the Paris climate-change accord, Canada is aligning itself with the world’s other two largest economies to take a global leadership role on the effort to limit greenhouse gas emissions. Environment Minister Catherine…
Lack of standard air traffic control phraseology leads to runway incursion risk: TSB
May 25, 2017 by Canadian UnderwriterA misinterpretation of an instruction from a ground controller, on the part of air crew on an Embraer 190, was one cause of a runway incursion in Toronto that forced an approaching Airbus 320 to pull up and go around,…
Q1 revenues up 5% at Aon
May 9, 2017 by Canadian UnderwriterAon plc reported Tuesday its commercial risk solutions revenue of $984 million in the three months ending March 31, up 2% from $961 million during the same period in 2016, while net income, company wide, dropped 9% due in part…
Carpooling apps could reduce traffic 75% in New York City and help with pollution, energy usage: MIT study
January 6, 2017 by Canadian UnderwriterUsing carpooling options from companies like Uber and Lyft could reduce the number of vehicles on the road in the New York City by a factor of three without significantly impacting travel time, according to a new study from the…