Canadian Underwriter

News

Financial charts showing growing revenue on touch screen News InsuranceMarkets / Coverages

U.S. insurance broker profitability to persist in 2017, be supplemented by organic revenue growth: Fitch

December 2, 2016 by Canadian Underwriter

Fitch Ratings expects insurance broker earnings and revenue south of the border to likely to modestly improve in 2017 compared to the first nine months of 2016. “In 2017, Fitch expects brokers will continue to supplement organic revenue growth through

The remains of a business Wednesday, Nov. 30, 2016, after a wildfire hit Gatlinburg, Tennessee. Photo by Mark Humphrey, The Associated Press News Catastrophes

Canadian couple among the dead in Tennessee wildfire

December 2, 2016 by THE CANADIAN PRESS

GATLINBURG, Tenn. – A couple from Canada is among the victims of a wildfire that ravaged the Smoky Mountains resort city of Gatlinburg, Tennessee. Authorities say 71-year-old Jon Tegler and 70-year-old Janet Tegler are among 13 people who have died

two business persons plan a project News Commercial LinesInsuranceMarkets / CoveragesReinsuranceTechnology

Swiss Re plans to expand R&D capabilities to efficiently allocate capital into growing risk pools

December 2, 2016 by Canadian Underwriter

Swiss Re’s stronger focus on and investment in research and development (R&D) to identify risk pools, as well as its move to further leverage technology, seeks to meet the twin goals of facilitating enhanced client support and creating competitive advantage.

In the wake of the 2015 terrorist attacks in Paris, the French government deploys Sentinelle military members to support homeland security and civil security forces. Photo courtesy of the French Ministry of Defense News Insurance

Critical infrastructure in Europe ‘currently not a priority’ for terrorists: Europol

December 2, 2016 by Mike Corder - THE ASSOCIATED PRESS

THE HAGUE, Netherlands – The Islamic State group is likely to carry out new attacks in the European Union in the near future, probably targeting countries that are members of the U.S.-led coalition fighting the extremist organization in Syria and

Cello Aviation Avro RJ85 News Insurance

Bolivian airline suspended after crash of 146 Avro RJ85 kills 71

December 2, 2016 by Fernando Vergara And Joshua Goodman - THE ASSOCIATED PRESS

MEDELLIN, Colombia – Bolivia’s Civil Aviation Authority on Thursday indefinitely suspended operations of the airline behind this week’s air tragedy in Colombia, as relatives of the victims spoke out in anger, many saying the crash was avoidable. The Bolivian agency

boc-chart-bond-yieldsweb News Insurance

Higher interest rates could help global economy: ex Bank of Canada boss

December 2, 2016 by Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Former Bank of Canada governor David Dodge says the world economy might be better off if policy-makers bumped interest rates a little bit higher. In prepared remarks for a speech today, Dodge says boosting borrowing costs would help

Ontario legislature at Queen's Park in Toronto, Ontario government News InsuranceLegislation / RegulationPersonal Lines

Insurance provisions in Ontario home inspector licensing bill helps reduce sellers’ liability exposure: MPP

December 2, 2016 by Canadian Underwriter

A bill before the Ontario legislature could pave the way for regulations “prescribing the types of insurance” that home inspectors must have, and also proposes to prohibit people from performing home inspections without a licence. Bill 59 was generally well

Closeup of car tires in winter News Legislation / Regulation

Ontario transportation department ‘has done little work’ to address liability for inadequate winter highway maintenance: Auditor General

December 2, 2016 by Canadian Underwriter

There has been little movement on a recommendation made in 2015 that the Ontario Ministry of Transportation “consider incorporating contractor liability” if roads are not properly cleared during the winter, the province’s auditor general suggested in her 2016 annual report,

Blue open sign hanging in front of a downtown storefront with it's door open. News Commercial LinesInsuranceTechnology

Unexpected threats should be a concern to SMEs in U.K.: RSA

December 2, 2016 by Canadian Underwriter

More than a quarter of polled small and medium-sized enterprises (SMEs) in the United Kingdom reported being hit with an unexpected £50,000 bill would put them out of business, notes a new report released this week by RSA. And while

News InsuranceMarkets / CoveragesTechnology

Incumbent insurers need to understand the “ABCs of insurtech,” Novarica says

December 1, 2016 by Canadian Underwriter

Incumbent insurers need to understand the “ABCs” of insurtech – Analytics Arms Dealers, Beneficial Bots, Creative Carriers and Digital Distributors – to get a better grasp of the space, according to a new executive brief from Boston-based research and advisory

Scissors cutting red tape on white background News InsuranceLegislation / RegulationMarkets / CoveragesProfessional Development

Ontario launches consultations to cut red tape in financial services sector

December 1, 2016 by Canadian Underwriter

The province of Ontario is launching consultations until the end of January 2017, asking businesses and the public to help identify and improve regulations that are “unclear, outdated, redundant or unnecessarily costly” for the financial services sector. Feedback can be

Steel Mill by Harbour News CatastrophesCommercial LinesInsurance

Ontario environment ministry ‘does not always require financial security’ from organizations at high risk of pollution: Auditor General

December 1, 2016 by Canadian Underwriter

Organizations undertaking activities with high risk of pollution in Ontario are often not required to provide financial security to ensure funds are available later for clean-up costs, the province’s auditor general warned in her annual report released Wednesday. Meanwhile, the