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News CatastrophesInsuranceMergers and Aqcuisitions

Death toll in storms sweeping southern U.S. increases to five

November 30, 2016 Bill Fuller and Rebecca Yonker - THE ASSOCIATED PRESS

Possible tornadoes swept through parts of Alabama and Tennessee overnight, killing five people and injuring more than a dozen as heavy rains from storms moving across the South produced flooding in areas previously suffering from months of drought. Possible tornadoes

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U.S. Consumer Technology Association calls NHTSA’s guidelines on driver distraction from electronic devices “regulatory overreach”

November 29, 2016 by Canadian Underwriter

The Consumer Technology Association (CTA) in the United States is calling the National Highway Traffic Safety Administration’s (NHTSA) proposed guidelines on driver distraction from electronic devices “disturbing” and “regulatory overreach.” Last Wednesday, the NHTSA released the second phase of voluntary

News InsuranceLegal

Estimate for net ultimate U.S. asbestos losses increased to US$100 billion: A.M. Best

November 29, 2016 by Canadian Underwriter

A.M. Best has increased its estimate for losses that property and casualty insurers in the United States can ultimately expect from third-party liability asbestos claims to US$100 billion. The new figure – included in a new report issued Monday –

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Net income for U.S. P&C industry for first nine months of 2016 down 26.8% compared to 9M 2015: A.M. Best

November 28, 2016 by Canadian Underwriter

The property and casualty industry in the United States reported a US$2.3 billion net underwriting loss in the first nine months of 2016 and a 26.8% decline in net income compared with the same period in 2015, according to preliminary

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Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS

November 28, 2016 by Canadian Underwriter

New and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing

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NHTSA proposes guidelines to address driver distraction from electronic devices

November 25, 2016 by Canadian Underwriter

The National Highway Traffic Safety Administration (NHTSA) has released proposed guidelines to help address driver distraction caused by mobile and other electronic devices in vehicles. The announcement, on Wednesday, covers the second phase of voluntary guidelines to address driver distraction on roads

News InsuranceMergers and Aqcuisitions

Aviva Canada launches cross-border insurance solution for Canadian domiciled companies

November 24, 2016 by Canadian Underwriter

Aviva Canada has launched a cross-border insurance solution for Canadian domiciled companies with assets, exposures or plated vehicles in the United States. On Thursday, the insurer announced the solution for Canadian domiciled companies that have physical assets, exposures or plated

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SMEs’ cyber risk awareness on the rise: Zurich study

November 23, 2016 by Canadian Underwriter

Cyber risk awareness among small- and medium-sized enterprises (SMEs) is on the rise, according to Zurich Insurance Group’s fourth annual global SME survey. The survey found that just 10% of SMEs said that they were too small to be at

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Global Aerospace reports drone insurance covering invasion of privacy, malicious damage ‘easier to obtain’

November 22, 2016 by Canadian Underwriter

Insurance carriers will expand their coverage of unmanned aircraft systems, or drones, while the absence, in the United States, of airworthiness certification requirements imposes a “considerable amount of diligence” on property and liability insurers covering drones, Global Aerospace Inc. suggested

News Technology

Veniam, StarHub partner to create connected vehicle mesh network in Singapore, bolster Internet availability

November 21, 2016 by Canadian Underwriter

Tech company Veniam has signed its first-ever collaboration agreement in Asia with info-communications provider StarHub to create a connected vehicle mesh network in Singapore by transforming thousands of connected vehicles into mobile Wi-Fi hotspots. Veniam’s aim “is to connect thousands

News InsuranceLegalProfessional DevelopmentTechnology

U.S. mergers and acquisitions activity expected to remain steady in 2017: KPMG

November 17, 2016 by Canadian Underwriter

Merger and acquisition (M&A) activity in the United States is expected to remain steady in 2017 compared to the deal levels of 2016, according to a recent survey by audit, tax and advisory firm KPMG LLP. Of the 94 respondents

News InsuranceMarkets / CoveragesTechnology

In world of Internet-enabled things, U.S. says security needed

November 16, 2016 Tami Abdollah - THE ASSOCIATED PRESS

WASHINGTON – The Obama administration urged tech companies to make millions of devices safe from hacking, underscoring the risks posed by an increasingly bewildering array of internet-connected products permeating daily life, covering everything from fitness trackers to computers in automobiles.