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Northbridge Insurance
Construction industry ‘particularly vulnerable to cybercrime,’ Northbridge warns
September 12, 2017 by Canadian UnderwriterLarge and small construction contractors are vulnerable to cyber crime, with “smart” building devices and lucrative engineering drawings in particular presenting vulnerabilities, Northbridge Insurance warns. “Major advancements in digital connectivity have left the construction industry particularly vulnerable to cybercrime,” Northbridge…
CSIO releases video on eSlips solution, expects product by year-end
August 14, 2017 by Canadian UnderwriterThe Centre for Study of Insurance Operations (CSIO) announced on Monday a video explaining digital proof of auto insurance (eSlips) to consumers and said it expects the solution by year-end. In June, the association announced what it called “an industry…
Fairfax ‘not oriented’ towards more acquisitions: Watsa
August 10, 2017 by Canadian UnderwriterOfficials with Fairfax Financial Holdings Ltd., which recently bought a majority interest in Allied World Assurance Company Holdings AG, “want to look at how” they can “organically expand” the firm’s existing business, chairman Prem Watsa told financial analysts recently. Toronto-based…
Fairfax completes acquisition of Allied World
July 6, 2017 by Canadian UnderwriterToronto-based Fairfax Financial Holdings Ltd. has completed its acquisition of Allied World Assurance Company Holdings AG, the firms announced Thursday. The deal was valued at nearly $5 billion when it was announced Dec. 18, 2016. All figures are in U.S.…
‘Significantly more’ than 90% of Allied World Assurance shareholders expected to tender stock for Fairfax merger
July 5, 2017 by Canadian UnderwriterOfficials with Allied World Assurance Company Holdings AG “fully expect” that all closing conditions for the merger with Toronto-based Fairfax Financial Holdings Limited will be met by Thursday, Allied World suggested in Wednesday in a press release. A deadline, for…
‘All regulatory approvals’ received for Fairfax-Allied World merger but deal still not complete
June 29, 2017 by Canadian UnderwriterToronto’s Fairfax Financial Holdings Ltd. announced Thursday it now has “all regulatory approvals that are necessary” for it to merge with Swiss insurer and reinsurer Allied World Assurance Company Holdings AG but suggested fewer than 90% of Allied World shareholders…
Commercial fleet managers should have ‘clear and straightforward guidelines’ on drivers’ use of electronic devices: Northbridge
June 19, 2017 by Canadian UnderwriterIt is not necessarily safe to use hands-free electronic devices while driving, especially when operating construction or contractor’s equipment, Northbridge Insurance suggested in a blog post Monday. Fleet managers should “include a policy on the use of wireless communication devices”…
CSIO announces eSlips, “an industry solution for the digital delivery of proof of auto insurance cards”
June 7, 2017 by Canadian UnderwriterThe Centre for Study of Insurance Operations (CSIO) has announced what it is calling “an industry solution for the digital delivery of proof of auto insurance cards, or eSlips.” CSIO announced the solution at Gore Mutual Insurance Company’s Fast Forward…
Northbridge Financial Corporation purchases surety underwriting business of Fenchurch General Insurance Company
May 10, 2017 by Canadian UnderwriterToronto-based commercial P&C insurer Northbridge Financial Corporation announced on Tuesday that it will enter the surety market in Canada by purchasing the surety underwriting business of Fenchurch General Insurance Company. Starting June 1, businesses across Canada will have access to…
Combined ratio up 3.1 points for Allied World
May 1, 2017 by Canadian UnderwriterAllied World Assurance Company Holdings AG, which is expected to have a new Canadian corporate parent, recently reported a 3.1-point deterioration, year over year, in its first-quarter combined ratio, nearly a month after Cyclone Debbie hit the north shore of…
Fairfax reports 2016 combined ratio for insurance and reinsurance operations of 92.5%
February 17, 2017 by Canadian UnderwriterToronto-based Fairfax Financial Holdings has released its most recent financial results for the fourth quarter and full-year 2016 ending Dec. 31, reporting a combined ratio for its insurance and reinsurance operations of 92.5% on a consolidated basis. This result produced…
Northbridge Insurance teams up with Alert Labs for pilot project with home water damage sensors
February 17, 2017 by Canadian UnderwriterNorthbridge Insurance has teamed up with Alert Labs for a pilot project that provides customers up to $150 in annual savings on their home insurance if they purchase sensors aimed at protecting homes against water damage. The pilot project offers…