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Cyber attacks among polled U.S. business costing at least US$5,000

October 2, 2017 by Canadian Underwriter

Seven in 10 of the surveyed U.S. businesses that experienced a cyber attack in the last year spent in excess of US$5,000 to investigate each incident, restore or replace software and hardware, and address any other consequences. However, 38% of

News ClaimsInsuranceReinsuranceTechnology

Willis Re supports B3i blockchain insurance industry initiative

October 2, 2017 by Canadian Underwriter

Willis Re is supporting the B3i initiative – the global blockchain effort launched last fall – by becoming a member and taking part in its prototype market testing phase. The announcement follows the successful launch of a working market testing

insPRESS AnnouncementsClaims

ServiceMaster Restore of Edmonton Earns Top Award

September 29, 2017 ServiceMaster Restore of Canada

At the ServiceMaster International Convention held earlier this month in Phoenix, Arizona, the ServiceMaster family of brands recognized the top performing franchises for their efforts and contributions in 2016.  The most prestigious award of the evening, the Marion E. Wade

News CatastrophesClaimsClimate ChangeInsuranceLegislation / Regulation

Time to fine-tune residential flood cover, consider high-risk areas: Enders

September 29, 2017 by Angela Stelmakowich

Flood-related cover for residential policyholders is far advanced from what it was when the devastating floods hit southern Alberta in 2013, but it is now time to refine those offerings and address outstanding issues, says Gord Enders, president of Direct-Line

News CatastrophesClaimsInsuranceMarkets / Coverages

Karen Clark & Company estimates insured losses from Hurricane Maria at US$30 billion

September 29, 2017 by Canadian Underwriter

Insured losses from Hurricane Maria will total almost US$30 billion, according to a flash estimate from catastrophe risk management firm Karen Clark & Company (KCC). The majority of losses – US$28.35 billion – will be from Puerto Rico, KCC said

News CatastrophesClaimsInsuranceMarkets / Coverages

U.S. House passes bill modifying flood insurance requirements

September 29, 2017 by Canadian Underwriter

The United States House of Representatives has passed a bill that modifies requirements for purchasing flood insurance and provides tax incentives for individuals and businesses affected by recent hurricanes in the country. Introduced in the House on Sept. 25, the

News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

RMS estimates insured losses from Hurricane Maria at between US$15-30 billion

September 28, 2017 by Canadian Underwriter

Global risk modelling and analytics firm RMS is estimating that the insured losses from Hurricane Maria will be between US$15-30 billion. RMS said in a press release on Thursday that the estimate represents the insured losses associated with wind, storm

News CatastrophesClaimsInsurance

Insured property loss estimate for Tropical Cyclone Debbie in Australia up to AU$1.7 billion: PERILS

September 28, 2017 by Canadian Underwriter

PERILS AG has upped its estimate of the property insurance market loss for Tropical Cyclone Debbie, which affected the Australian states of Queensland and New South Wales this spring, to just shy of AU$1.7 billion. The Zurich-based organization’s third loss

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insPRESS AnnouncementsAssociationsClaims

The Canadian Independent Adjusters’ Association Announces its 2017–18 Executive Team

September 27, 2017 Canadian Independent Adjusters' Association

TORONTO – Sept. 27, 2017 /insPRESS/ – The Canadian Independent Adjusters’ Association is pleased to announce their newly elected Executive for the 2017 – 2018 term. Monica Kuzyk, FCIP, C. Dir., was inaugurated as the association’s 33rd President, taking over

News ClaimsConstructionInsurance

Marijuana impairment-related losses could potentially trigger GL policies: RIMS speaker

September 27, 2017 by Angela Stelmakowich

Insurers would be well-advised to track the evolving marijuana risk to determine if impairment-related loss history could trigger defence and indemnification obligations under employers’ general liability policies, it was suggested Tuesday during a session at the RIMS Canada Conference in

insPRESS AnnouncementsAppointmentsClaims

Crawford’s Global Technical Services™ Division Welcomes John Valeriote and Ashley Misurka

September 27, 2017 Crawford & Company (Canada) Inc.

TORONTO (Sept. 27, 2017) – Crawford & Company® (Canada), Inc. announce the addition of John Valeriote and Ashley Misurka to Crawford’s Global Technical Services™ (GTS™) division. The Crawford® GTS team in Canada includes more than 75 highly technical claims adjusters

News CatastrophesClaimsInsuranceMergers and Aqcuisitions

Hurricane relief around-the-clock: U.S. Department of Defense

September 26, 2017 THE ASSOCIATED PRESS

The U.S. Defense Department was working around the clock to deliver humanitarian assistance to Puerto Rico and the U.S. Virgin Islands, even as the death toll climbed further across the Caribbean after Hurricane Maria. By Monday afternoon, the confirmed toll