Canadian Underwriter

Segment
Claims

News Commercial LinesInsuranceMarkets / CoveragesTechnology

New cyberattack causes mass disruption globally

June 27, 2017 by Canadian Underwriter

One month after the massive global WannaCry ransomware attack, “a new and highly virulent outbreak of malicious data-scrambling software appears to be causing mass disruption across the world, hitting companies and governments in Europe especially hard,” the Associated Press reported

News CatastrophesConstructionInsurancePersonal Lines

Fire destroys N.L. apartment complex, leaves dozens homeless in St. John’s

June 27, 2017 The Canadian Press (CPSTF)

JOHN’S, N.L. – A massive, fast-moving fire at a public housing complex has forced about 35 people out of their homes in a blaze that sent large plumes of smoke billowing above St. John’s, N.L. Fire platoon Chief Brian Tucker

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesReinsuranceTechnology

New Zealand proposes shaking up earthquake commission scheme to smooth claims resolution

June 27, 2017 by Canadian Underwriter

New Zealand will continue to flesh out the details of proposed changes aimed at simplifying and improving the Earthquake Commission (EQC) scheme to help support more timely response to affected policyholders. Reforms to the Earthquake Commission Act seek to “simplify

News CatastrophesClimate ChangeCommercial LinesInsurancePersonal LinesProductsReinsuranceTechnology

AIR Worldwide releases probabilistic crop hail model for Canada

June 26, 2017 by Canadian Underwriter

AIR Worldwide has released what the catastrophe risk modelling firm calls the industry’s first crop hail model to provide stakeholders across the crop insurance value chain with a probabilistic view of the effects of hail on Canadian crops. Currently available

News CatastrophesCommercial LinesInsuranceMarkets / Coverages

Officials say damaged rail line to Churchill, Man. could be fixed in two months

June 23, 2017 The Canadian Press (CPSTF)

WINNIPEG – Indigenous and municipal leaders from northern Manitoba say a broken rail line to Churchill could be fixed in about two months if governments and the railway owner are willing to spend the money. Chief Betsy Kennedy of the

News InsuranceLegalPersonal Lines

Legalizing recreational marijuana linked to increased crashes: U.S. Highway Loss Data Institute

June 23, 2017 by Canadian Underwriter

Legalizing recreational marijuana use in Colorado, Oregon and Washington has resulted in collision claim frequencies that are about 3% higher overall than would have been expected without legalization, according to a new analysis from the Highway Loss Data Institute (HLDI).

News InsuranceTechnology

Companies plan to spend more on cloud computing services this year, higher prices among drivers: Clutch

June 23, 2017 by Canadian Underwriter

Companies are planning to spend more on cloud computing services in 2017, but must be cognizant that anticipated costs could balloon absent appropriate monitoring and use, suggest survey results released this week by Clutch. Reflecting input from 283 IT professionals

News CatastrophesInsurancePersonal Lines

Red Deer cleaning up from windstorm after declaring state of emergency

June 22, 2017 The Canadian Press

RED DEER, Alta. – People in Red Deer were cleaning up Wednesday after a violent windstorm that knocked out power and prompted the central Alberta city to declare a local state of emergency. Homes were damaged Tuesday when wind gusts

News CatastrophesCommercial LinesInsurancePersonal Lines

Suspected tornado flattens businesses in Alabama

June 22, 2017 Kevin McGill - THE ASSOCIATED PRESS

NEW ORLEANS – A suspected tornado near Birmingham, Alabama, flattened businesses and injured one person Thursday, while the mayor of a coastal Louisiana town urged residents to evacuate ahead of a rising tide – two lingering effects of a weakening

News Commercial LinesInsurancePersonal LinesTechnology

Gains, losses in efforts to combat cyber crime in 2016: Trustwave

June 20, 2017 by Canadian Underwriter

The fight against cyber crime showed both advances and retreats in 2016, with improvements on the intrusion detection and breach containment fronts matched by cyber crime increasingly being treated as a business, suggests a Trustwave report released Tuesday. Findings in

News Earnings / RatingsInsuranceMarkets / CoveragesPersonal Lines

Manitoba Public Insurance requests 2.7% overall rate increase for 2018/19 insurance year

June 19, 2017 by Canadian Underwriter

Manitoba Public Insurance (MPI) has announced that it has requested a 2.7% overall rate increase for the 2018/19 insurance year. MPI requested the rate increase for the 2018/19 insurance year in its general rate application filed with the Public Utilities

News CatastrophesClimate ChangeCommercial LinesInsurancePersonal Lines

Cyclones Debbie, Cook in New Zealand combine to produce insured losses of NZ$84 million so far

June 19, 2017 by Canadian Underwriter

The two cyclones that pounded New Zealand in April have spurred insured costs of NZ$84 million to date, setting the stage for what could become one of the most damaging year in recent years and leading to wrong-headed government actions