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Insurance Brokers Association of Ontario suspends partnership with Aviva Canada

January 23, 2017 by Canadian Underwriter

The Insurance Brokers Association of Ontario (IBAO) announced on Monday that it is formally suspending its sponsorship partnership with Aviva Canada “for the foreseeable future.” IBAO CEO Colin Simpson argued in a media release that “Aviva continues to leverage the

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Intact must help defend pollution lawsuit due to exception in exclusion for “sudden and accidental” release

January 23, 2017 by Canadian Underwriter

Intact Insurance must participate in the defence of a lessee of commercial property – on a Grimsby, Ont. site formerly occupied by a gas station – which is being sued by a neighbouring property owner alleging that contaminants migrated to

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U.S. Department of Transportation designates 10 automated vehicle “proving grounds” to encourage testing of new technologies

January 23, 2017 by Canadian Underwriter

The U.S. Department of Transportation (DOT) has announced that it has designated 10 “proving ground” pilot sites to encourage testing and information sharing related to automated vehicle technologies. Former U.S. Transportation Secretary Anthony Foxx announced the designations last week before

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ILS sector set to gather pace after subdued 2016: Aon study

January 23, 2017 by Canadian Underwriter

The insurance-linked securities (ILS) sector is set to gather steam this year, with a record amount of catastrophe bonds to mature in the first half of 2017, according to a new report from Aon Securities. Aon Securities, the investment banking

Cloud computing and server room. Row of computers cabinets aligned in a futuristic data center server room, illuminated by dark blue light at night. Servers are linked by a cloud shaped set of icons with symbols of services, activities and data driving a computer network and cloud computing cyberspace. Internet of Things and technology innovation. No people. Digitally generated image. Blue background. News InsuranceLegalTechnology

IoT botnets present unmanageable cyber security risk: Juniper Research

January 23, 2017 by Canadian Underwriter

The scale of embedded connectivity could lead to an unmanageable cyber security risk created by botnets, Juniper Research Limited cautioned Monday in releasing data indicating the consumer Internet of Things (IoT) installed base will reach 15 billion-plus units by 2021.

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SGI records more than 350 impaired driving offences in Saskatchewan in December

January 23, 2017 by Canadian Underwriter

Saskatchewan Government Insurance (SGI) reported on Monday that there were 353 offences related to impaired driving in the province in December, compared to 308 in December 2015. “Too many people still made the poor decision to drive after drinking in

Severe Weather Georgia News CatastrophesCommercial LinesInsurancePersonal Lines

More tornadoes ahead as death toll reach 15 in southeast U.S.

January 23, 2017 by Pamela Sampson - THE ASSOCIATED PRESS

ATLANTA – A weekend of deadly weather in the Southeast killed 15 people and injured dozens more, authorities said Sunday, while residents along the Georgia-Florida line were bracing for more intense, fast-moving storms – including unusually strong “long track” twisters.

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triOS College to offer new P&C insurance diploma in spring

January 23, 2017 by Canadian Underwriter

triOS College Business Technology Healthcare announced on Monday that it will be introducing a new insurance diploma and insurance specialist diploma program beginning in the spring of 2017. The program is designed to address the huge need for individuals to

Nevada Floods News CatastrophesCommercial LinesInsurancePersonal Lines

Rain, snow storms pummel the U.S. West; more wet weather on way

January 20, 2017 by Scott Sonner - THE ASSOCIATED PRESS

RENO, Nev. – More winter snow and rain pummeled the West on Thursday as the first in a series of expected storms soaked morning commuters in much of California, dumped 18 more inches of snow in the Sierra Nevada and

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Munich Re, Insurance Europe welcome U.S.-EU covered agreement

January 20, 2017 by Canadian Underwriter

Munich Re and Insurance Europe are welcoming the successful conclusion of “covered agreement” negotiations between the United States and the European Union. Munich Re said in a press release on Thursday that “finalizing the agreement is an important step to

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AIG, National Indemnity ink reinsurance agreement covering long-tail prior-year commercial casualty

January 20, 2017 by Canadian Underwriter

American International Group Inc. said Friday it “expects a material prior year adverse development charge” during the three months ending Dec. 31, 2016 and that National Indemnity Company (NICO) has agreed to reinsure 80% of losses on certain reserves for

Italy Avalanche News CatastrophesInsuranceMarkets / Coverages

Joy erupts as Italian rescuers pull out avalanche survivors

January 20, 2017 by Paolo Santalucia and Gregorio Borgia - THE ASSOCIATED PRESS

FARINDOLA, Italy – With cheers of joy, rescue crews pulled survivors from the debris of an avalanche-crushed hotel in central Italy on Friday, an incredible discovery that boosted spirits two days after the massive snow slide buried around 30 people