Topic
Claims
California asks US for $7.4 billion for wildfire rebuilding
November 6, 2017 Olga R. Rodriguez - THE ASSOCIATED PRESSSAN FRANCISCO – California Gov. Jerry Brown and lawmakers asked the U.S. government Friday for $7.4 billion to help rebuild after a cluster of fires tore through the heart of wine country, killing more than 40 people and leaving thousands…
Moving dangerous product by rail continues to be popular, despite Lac-Mégantic disaster: speaker
November 6, 2017 Jason Contant, Online EditorDespite the Lac-Mégantic train derailment in July 2013 that claimed the lives of 47 people, destroyed more than 30 buildings and released about 6.3 million litres of oil into the environment, “moving any type of dangerous product by rail continues…
Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3
November 6, 2017 by Canadian UnderwriterThe impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of…
Echelon Insurance reports near halving of net income in 2017 Q3 compared to 2016 Q3
November 3, 2017 by Canadian UnderwriterThe B.C. wildfires and losses related to commercial auto and motorcycle contributed to Echelon Insurance witnessing a 42% decrease in net income and an increase in combined operating ratio for 2017 Q3 compared to 2016 Q3. Net income amounted to…
Claims costs in oil and gas industry increasing despite downturn: forum speaker
November 2, 2017 Jason Contant, Online EditorDespite the downturn in the oil and gas industry, claims costs are increasing, a speaker said on Thursday at the Canadian Risk and Insurance Education Forum. “I would suggest that in the upstream oil and gas industry – where most…
MPs debate proposed rail safety laws
November 2, 2017 by Canadian UnderwriterLegislation mandating voice and video recorders in locomotives “needs to be better thought out” and it is not reasonable to deny shippers of toxic inhalation hazards access to a proposed long-haul rail interswitching mechanism, opposition members of parliament suggested this…
Insured losses from October wildfires top $3 billion, California insurance department reports
November 2, 2017 by Canadian UnderwriterInsured losses from California’s October wildfires now top US$3 billion – a three-fold increase in just two weeks – according to updated claims loss data from the California Department of Insurance. Fifteen major insurers reported the updated $3.32 billion estimate…
Texas says it needs $61 billion from federal government for Harvey recovery
November 1, 2017 The Associated Press (APR)AUSTIN, Texas – Texas needs $61-plus billion in federal funding just to rebuild public infrastructure damaged by Hurricane Harvey, as well as to cover projects to prevent future flooding. John Sharp, Texas’ Harvey recovery “czar,” announced Tuesday that the figure…
MGB Claims Consultants Inc. Celebrates Oktoberfest with Their Clients
November 1, 2017 Malik, Giffen & Burnett Claims Consultants Inc.TORONTO, Nov. 1, 2017 /insPRESS/ – Once again, the lederhosen were on full display at a packed Montecito Restaurant, which played host to MGB’s annual Oktoberfest client celebration on Oct. 19, 2017. MGB would like to thank their clients and…
BHSI unveils new offering, follow form for U.S. and Canadian contractors
November 1, 2017 by Canadian UnderwriterBoston-based Berkshire Hathaway Specialty Insurance (BHSI) has announced the availability of a single excess policy that sits atop multiple first- and third-party insurance policies for contractors in the United States and Canada. The new policy provides excess follow form protection…
Cats a significant driver in Everest Re Group’s posting US$639.4 million net loss in 2017 Q3
October 31, 2017 by Canadian UnderwriterLosses from hurricanes Harvey, Irma, Maria (HIM) and the Mexico City earthquake contributed to Everest Re Group, Ltd. posting a US$639.4 million net loss for 2017 Q3 compared to net income of US$295.4 million for the prior-year quarter. For the…
Marshall gives his take on the ‘real problem’ with auto catastrophic impairment coverage
October 30, 2017 Greg MeckbachThe Ontario auto insurance system needs to do more for claimants who are catastrophically injured and not rely so much on “competing opinions” among medical practitioners, a former chief executive officer of the workers compensation system suggested to brokers recently.…