Topic
Catastrophes
Majority of consumers globally aware of climate change risks, future damage from disasters
August 28, 2013 by Canadian UnderwriterConsumers worldwide are aware of future risks they may face, but still want their political leaders to do more to take on natural disasters and promote energy efficiency, according to a new survey from Swiss Re. According to the poll,…
U.S. insurance commissioners sign resolution in support of terrorism risk act
August 27, 2013 by Canadian UnderwriterThe National Association of Insurance Commissioners (NAIC) in the United States has passed a resolution supporting the reauthorization of the Terrorism Risk Insurance Act (TRIA), which is set to expire in December 2014. “We strongly urge members of Congress to…
FEMA to provide federal funds to combat massive California fire
August 26, 2013 by Canadian UnderwriterThe Federal Emergency Management Agency (FEMA) in the United States has authorized the use of federal funds to fight the Rim Fire currently burning in Tuolumne County in California. On Friday, the State of California submitted a request for a…
Desjardins reports increase in net income for Q2, drop for first half
August 26, 2013 by Canadian UnderwriterDesjardins General Insurance Group has reported a net income of $42.5 million for the second quarter of the year, up 13.3% from the same period in 2012, although it’s performance for the first half of the year didn’t quite measure…
Senate energy report calls for ‘appropriate’ minimum liability coverage for rail companies
August 22, 2013 by Canadian UnderwriterA Canadian Senate committee has released a report on transporting energy safely in the country, including a recommendation that Transport Canada apply “appropriate minimum liability coverage thresholds” to rail companies. The report from the Senate’s Standing Committee on Energy, the…
Little damage from 6.5 magnitude quake on New Zealand’s South Island
August 19, 2013 by Canadian UnderwriterThere were no serious injuries, but some damage to homes and roads when a 6.5-magnitude earthquake hit central New Zealand in the early afternoon of Aug. 16, reports catastrophe modeller AIR Worldwide. With New Zealand’s stringent building codes, the moderate…
Lloyd’s marks 325 years of insurance business
August 16, 2013 by Canadian UnderwriterLloyd’s of London is celebrating 325 years of business this year, publishing a variety of online material to celebrate its legacy. “In the 17th century, London’s importance as a trade centre led to an increasing demand for ship and cargo…
Majority of condo owners, buyers unclear on insurance requirements
August 15, 2013 by Canadian UnderwriterMore than half of condominium owners are unaware of or unclear on the insurance needed to protect themselves when water or fire originating in their unit damages another, according to recent survey findings. Based on a survey of 518 condo…
Demand up for environmental insurance across all industries in U.S. in first half of 2013: Marsh
August 15, 2013 by Canadian UnderwriterPricing for environmental insurance in the United States remained generally firm during the first half of 2013, although some markets continued to firm, Marsh reports in a briefing released Wednesday. Although there were rate increases, these were not seen across…
Vast majority of businesses affected by quake in New Zealand will not file claims
August 13, 2013 by Canadian UnderwriterA small minority of business surveyed by the Wellington Employers’ Chamber of Commerce (WECC) in New Zealand expected to make an insurance claim as a result of a 6.5-magnitude earthquake that hit off the coast in July. Businesses in the…
RIMS calls for TRIA extension with coverage for terrorism from chemical, nuclear weapons
August 7, 2013 by Canadian UnderwriterRisk and Insurance Management Society Inc. (RIMS) is calling on the U.S. government to extend its Terrorism Risk and Insurance Act, in some form, beyond 2014. TRIA was first passed into law in 2002 and, in essence, requires insurers to…
SCOR net income at 189 million euros for first half of 2013
August 2, 2013 by Canadian UnderwriterSCOR has reported gross written premiums of 4.98 billion euros for the first half of the year, which it says was driven by “very healthy” property and casualty renewals and business growth in Asia and Latin America. Its net income…