Topic
Insurance
Alberta oil sands fire loss tallied at $726 million
April 10, 2012 by Canadian UnderwriterThe total insurance costs of the fire that halted production at the Horizon oil sands project in Alberta last year has been finalized at $726 million. Canadian Natural Resources (CNR) Limited indicated in a release of fourth-quarter and year-end 2011…
Insured catastrophe losses over $2 billion in March 2012: Aon Benfield
April 10, 2012 by Canadian UnderwriterA rash of tornadoes in the United States and an earthquake in Mexico were the main sources for a heavy natural disaster toll in March 2012, according to Aon Benfield. At least 65 tornado touchdowns were reported in the United…
Insurers eyeing satellite technology to help improve risk management related to natural disasters
April 10, 2012 by Canadian UnderwriterAs the insurance industry deals with climate change, satellite observation may become an integral part of improving existing risk assessment processes in the future. “But the use of satellite observations is still in the early stages of being adopted by…
Swiss Re places insurance-linked securities for hurricane and earthquake
April 10, 2012 by Canadian UnderwriterSwiss Re Capital Markets placed $240 million in insurance-linked securities to a subsidiary of Allianz SE to cover earthquake risks in the United States and Canada, as well as potential losses from North Atlantic hurricanes. The transaction issued two classes…
Fireman’s Fund partners with Allianz to expand global entertainment division into Canada
April 10, 2012 by Canadian UnderwriterFireman’s Fund has partnered with Allianz Global Corporate & Specialty, an Allianz affiliate company in Canada, to expand its global entertainment division into Canada. Allianz Global Corporate & Specialty will handle all aspects of Canadian entertainment business through appointed entertainment…
Applied Systems to open Canadian data centre in 2012 Q3
April 10, 2012 by Canadian UnderwriterInsurance software company Applied Systems is planning to open a Canadian data center in 2012 Q3. The data centre would provides additional data storage for the growing number of insurance brokers who choose online broker management systems and request data…
GIFFIN KOERTH ANNOUNCES A NEW HIRE TO THE FIRE GROUP
April 10, 2012 Giffin Koerth Forensic Engineering & ScienceGiffin Koerth is pleased to welcome Mark Paquette, B.A.Sc., CFEI, CVFI, P.Eng., to the Fire Group. Mark is an experienced vehicle and structural fire investigator with an extensive background in vehicle mechanical failure analysis. Mark brings several years of analytical…
Price shopping brings mixed blessings for U.K. auto insurers
April 9, 2012 by Canadian UnderwriterThe rapid evolution of Internet-driven direct response insurance models in the United Kingdom has created competitive pricing for consumers, but also some problems for insurers, research firm Celent says in a new study. Swift changes in the British market towards…
‘Digital Natives’ likely to switch seamlessly (and often) between technology platforms
April 9, 2012 by Canadian UnderwriterPeople who grew up with mobile technology as part of their everyday lives are likely to switch their attention between a variety of media platforms, suggesting a multi-platform sales approach may be the best way to engage these consumers. Time…
Reinsurance renewals up in April: Guy Carpenter
April 9, 2012 by Canadian UnderwriterGlobal reinsurers have raised rates in key regions and lines of business after huge catastrophe losses in 2011. Asia-Pacific and Japan, in particular, experienced higher reinsurance pricing in property catastrophe and casualty lines at the “significant renewal date” of Apr.…
Ongoing auto insurance projects figure prominently in FSCO’s 2012 draft priorities
April 9, 2012 by Canadian UnderwriterAuto insurance comprises a large chunk of the Financial Services Commission of Ontario (FSCO)’s priorities for 2012. Certainly within the auto insurance file, FSCO has a lot of irons in the fire right now. These include steps to reduce auto…
The Guarantee Company of North America celebrates its 140th anniversary
April 9, 2012 by Canadian UnderwriterThe Guarantee Company of North America celebrated its 140th anniversary on Apr. 9. “After 140 years, our company philosophy is still based on the original principle that product specialization and financial strength are key factors in building a successful business,”…