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Amtrak to pay $265M for Philadelphia crash that killed 8

October 27, 2016 by Maryclaire Dale - THE ASSOCIATED PRESS

PHILADELPHIA – Amtrak will pay $265 million to settle claims related to a crash last year that killed eight people and injured more than 200 others when a speeding train derailed on a curve. The settlement allows victims to have

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Combined ratio down 4 points at Axis Capital

October 27, 2016 by Canadian Underwriter

Axis Capital Holdings Ltd. released Wednesday its financial results for the period ending Sept. 30, reporting a 2% overall increase in Q3 net premiums earned while underwriting income was up 46%. Pembroke, Bermuda-based Axis Capital reported net premiums earned of

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Combined ratio improves 2.7 points at Arch

October 27, 2016 by Canadian Underwriter

Arch Capital Group Ltd. of Hamilton, Bermuda, reporting a 7.5% overall increase in net premiums written, a 2.1-point improvement in loss ratio and a drop in reinsurance premiums partly due to a decline in casualty, marine and aviation lines premiums.

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Use of digital channels increasing, but technology can’t fully replace human connections during auto claims process: J.D. Power U.S. study

October 27, 2016 by Canadian Underwriter

Millenials’ customer satisfaction with the auto insurance process in the United States, while still the lowest among all generations, is improving and carrying the rest of the industry with it, according to the J.D. Power 2016 U.S. Auto Claims Satisfaction

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U.S. homeowner claims decreasing, loss costs on the decline, LexisNexis Risk Solutions study finds

October 27, 2016 by Canadian Underwriter

Homeowner claims in the United States continue to decrease and loss costs are flat or on the decline, according to a new report from LexisNexis Risk Solutions. 2016 LexisNexis Home Trends Report, the inaugural study of home insurance trends released

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Everest Re’s combined ratio improves five points to 85.6% in Q3 2016

October 27, 2016 by Canadian Underwriter

Hamilton, Bermuda-based Everest Re Group, Ltd. has reported a combined ratio for the third quarter of this year of 85.6%, a five-point improvement from 90.6% in the same quarter of 2015. Excluding catastrophe losses, reinstatement premiums and prior period loss

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Most Canadians “decidedly supportive” of distracted driving legislation, majority want distracted walking laws: poll

October 27, 2016 by Canadian Underwriter

Canadians are “decidedly supportive” of the legislation that bans drivers from using hand-held devices in every province, and a majority believe the time has come to implement distracted walking legislation in their municipality, according to a new Canada-wide poll. Released

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Aspen Insurance reports a combined ratio of 93.8% for the third quarter of 2016

October 27, 2016 by Canadian Underwriter

Hamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a combined ratio of 93.8% for the third quarter of 2016, up slightly from 93.4% in the third quarter of 2015. Aspen Insurance released its financial results on Wednesday, reporting a net

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Nat-cats contribute to decrease in net income at SCOR for first three quarters of 2016 compared to prior-year period

October 27, 2016 by Canadian Underwriter

The Group net income for SCOR for the first nine months of 2016 took a hit, partly as a result of the impact of natural catastrophes, falling 11.0% to 438 million euros compared to 492 million euros for the first

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Back to business results expected from oilsands as wildfire impact dissipates

October 26, 2016 by Dan Healing - THE CANADIAN PRESS

CALGARY – Oilsands producers are expected to report back-to-business third-quarter results over the next few days as they shrug off lingering impacts of last May’s devastating wildfires in Fort McMurray, Alta. While provincial estimates report that Alberta oilsands production dropped

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AIG quadruples global property terrorism insurance limits to $1 billion

October 26, 2016 by Canadian Underwriter

American International Group, Inc. (AIG) announced on Wednesday that it has raised its property terrorism insurance limits globally to $1 billion. The larger capacity is available to clients on a standalone basis or as expanded limits within AIG’s Large Limits

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Mixed North American commercial insurance market still favours buyers: Willis Towers Watson report

October 26, 2016 by Canadian Underwriter

The marketplace for property, casualty and other lines of commercial insurance will continue to favour insurance buyers in 2017, particularly those with comprehensive strategic risk management and risk transfer strategies, global advisory, broking and solutions company Willis Towers Watson (WTW)