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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

handshake of businessmen. News Commercial LinesInsuranceLegislation / RegulationMarkets / CoveragesReinsurance

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

News Commercial LinesInsuranceLegislation / RegulationMarkets / Coverages

Brexit uncertainties weigh on U.K. insurers but rated entities able to withstand pressure: A.M. Best

January 20, 2017 by Canadian Underwriter

Ratings firm A.M. Best Company said on Friday that it does not anticipate taking any rating actions as a direct result of plans for the United Kingdom to exit the European Union (EU), “although the cost implications of continuing to

Driving a car in a a city with a traffic jam at night during the rush hour, view from inside the car, proceeding slow in a line with red tail lights. Blurred streets lights on the background. Night dark tones with Instagram style colors. News AssociationsCommercial LinesInsuranceLegislation / RegulationPersonal LinesTechnology

Rule-making authority essential for Ontario’s new FSRA: Cooke

January 20, 2017 by Angela Stelmakowich

Equipping Ontario’s new Financial Services Regulatory Authority (FSRA) with rule-making authority is critically important to ensuring its effectiveness as an independent, flexible and consumer-focused regulator of financial services and pensions, argues George Cooke, chair of the Board of Directors of

Lobster Traps in Twilight News Commercial LinesInsurance

Canada needs new regulations for commercial fishing vessels of all sizes: TSB

January 19, 2017 by Canadian Underwriter

If fishing vessel operators conduct regular safety meetings, they can review on-board hazards and remind crew of safety precautions, the Transportation Safety Board of Canada suggested in an investigation report released Thursday. TSB – a separate organization from Transport Canada

News CatastrophesInsuranceMarkets / Coverages

Rescuers search for 30 after avalanche hits Italian hotel

January 19, 2017 by Colleen Barry, Nicole Winfield and Valentina Onori - THE ASSOCIATED PRESS

PENNE, Italy – Rescue workers reported no signs of life Thursday at a four-star hotel buried by an avalanche in the mountains of earthquake-stricken central Italy. Two bodies were recovered of the estimated 30 people trapped inside as the risk

News CatastrophesClimate ChangeInsuranceMarkets / Coverages

NOAA and partners develop new regional sea level scenarios to help U.S. communities prepare for risks

January 19, 2017 by Canadian Underwriter

The National Oceanic and Atmospheric Administration (NOAA) and its partners have developed new regional sea level scenarios for the United States to give coastal communities better and more localized data to help them plan for and adapt to the risks

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Wider mandate for Ontario’s auto insurance regulator would be welcomed

January 19, 2017 by Angela Stelmakowich

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a

HKN Sabres Maple Leafs 20170117 News InsuranceMarkets / Coverages

Aviva marketing team-branded home, auto insurance to fans of Raptors, Maple Leafs

January 19, 2017 by Canadian Underwriter

Aviva Canada Inc. announced Wednesday it is offering “team-branded” home and auto insurance directly to fans of Toronto’s Raptors and Maple Leafs teams. In a partnership with Maple Leaf Sports and Entertainment, Aviva Agency Services Inc. will offer and administer

California Drought Over Yet News CatastrophesInsurance

First of three more storms hits California as drought retreats

January 19, 2017 by John Antczak - THE ASSOCIATED PRESS

LOS ANGELES – The worst area of drought in California has significantly narrowed to a small region northwest of Los Angeles that has stubbornly failed to benefit from Pacific storms that have drenched much of the state since the fall