Canadian Underwriter


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Consistent profitability ‘eludes’ American home insurance carriers: A.M. Best

December 3, 2013 by Canadian Underwriter

Homeowners insurance is frequently unprofitable for United States carriers and but those who  use tools such as exposure mapping software and “more rigorous property inspections” can manage their risk exposures better, suggests a new report from credit rating provider A.M.

News CatastrophesClimate ChangeInsurance

Global pandemic, food and water crisis among top ranked ‘extreme risks’

December 3, 2013 by Canadian Underwriter

A global pandemic, a large-scale natural catastrophe and a food/water/energy crisis are the top three “extreme risks” over the long-term, according to a survey of global insurance industry executives conducted by Towers Watson. Cyber-warfare, an economic depression, a banking crisis

Angela Stelmakowich, Editor
Feature Catastrophes

Expect the Unexpected

December 1, 2013 Angela Stelmakowich, Editor

A robust risk management approach should not stop at a particular percentile and a holistic risk management framework should include very unlikely, but potentially high-impact, events.

Feature CatastrophesMergers and Aqcuisitions

Best to Assess

December 1, 2013 Angela Stelmakowich, Editor

It is hoped a new pilot project involving three different municipalities in three different provinces will offer similar outlooks regarding the value of being able to assess municipal infrastructure before the next severe weather event occurs.

News CatastrophesInsuranceMergers and Aqcuisitions

‘Emotive factors’ play key role in risk-related behaviours, earthquake study suggests

November 29, 2013 by Canadian Underwriter

Lloyd’s announced Friday that a psychology professor from University College London won the Lloyd’s Science of Risk prize for a paper on people’s attitudes towards earthquake risk. Helene Joffe, a professor at UCL’s division of psychology and language sciences, submitted,

News CatastrophesInsurance

CN Rail to invest $10 million for monitoring technology as part of safety effort

November 29, 2013 THE CANADIAN PRESS

MONTREAL – Canadian National Railway Co. (TSX:CNR) says it’s investing $10 million in a special program to enhance its ability to detect equipment defects, such as hot wheels and bearings in its rolling stock. The Montreal-based company, one of North

News CatastrophesClimate ChangeInsurance

Talk to the animals: Calgary Zoo fully reopens after flooding

November 28, 2013 Bill Graveland - THE CANADIAN PRESS

CALGARY – Hundreds of grownups and children pressed up behind a purple banner Thursday as they waited for the chance to reconnect with furry, feathery, scaly and leathery friends at the Calgary Zoo. A cheer went up when Mayor Naheed

News CatastrophesInsurance

Direct relationship between higher risk maturity and better return on equity: Aon

November 27, 2013 by Canadian Underwriter

There is a direct relationship between a higher “risk maturity rating” and better relative stock performance, as well as higher return on equity for an organization, according to a new report from Aon. The Aon Risk Maturity Index Insight Report

News CatastrophesInsurance

Rail safety audit days before Lac Megantic crash found ‘significant weaknesses’

November 26, 2013 Bruce Cheadle, THE CANADIAN PRESS

OTTAWA – A rail-safety audit completed just days before the deadly July train crash in Lac-Megantic, Que., found “significant weaknesses” in Transport Canada’s oversight of federally regulated railways. Those weaknesses include a lack of knowledge of rail routes used to

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Marsh reports slight decline of insurance rates in Q3, increase in Canada for cat-exposed property rates

November 25, 2013 by Canadian Underwriter

Overall insurance rates fell during the third quarter of 2013, though rates in Canada increased for catastrophe-exposed property risks and for directors and officers liability, suggests a new report from brokerage and risk management firm Marsh Ltd. New York City-based

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Combined ratio drops at Desjardins General Insurance

November 25, 2013 by Canadian Underwriter

Desjardins General Insurance Group (DGIG) announced Monday its financial results for the quarter ending Sept. 30, reporting a combined ratio of 95.1%, down from 101.1% in the third quarter of 2012. Net income for Q3 2013 was $45.4 million on

News CatastrophesInsurance

Lloyd’s testifies in favour of U.S. Terrorism Risk Insurance Act renewal

November 22, 2013 by Canadian Underwriter

Lloyd’s has testified to the United States government that the reauthorization of the Terrorism Risk Insurance Act (TRIA) is essential for the private market offering terrorism insurance coverage there, joining other industry players who are also in favour of renewal.