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Markets / Coverages
Climate change raises new risk: Are inland bridges too low?
June 6, 2017 Scott McFetridge - THE ASSOCIATED PRESSDES MOINES, Iowa – A century-old train trestle stands as one of the trophies of Des Moines’ push to spruce up its downtown. Bicyclists and pedestrians pose for pictures beside the brightly painted beams of the Red Bridge and gather…
PERILS discloses second loss estimate of 259 million euros for extratropical cyclone Zeus
June 6, 2017 by Canadian UnderwriterPERILS AG has disclosed a second loss estimate for extratropical cyclone Zeus of 269 million euros. The revised estimate, released on Tuesday, is for the property insurance market loss, said PERILS, an independent organization based in Zurich, Switzerland that provides…
How legalizing pot will affect your insurance policies
June 5, 2017 Jason Contant, Online EditorThe impending legalization of marijuana in Canada raises a number of legal issues related to property insurance policies, Michael Teitelbaum, a partner with Hughes Amys LLP, said last week at ARC Group Canada’s 2017 annual seminar and cocktail event. In…
Intact Insurance launches my Driving Discount program in Alberta
June 5, 2017 by Canadian UnderwriterGood drivers in Alberta will now have access to an Intact Insurance driving discount program that allows them to save as much as 25% on their auto insurance premiums. The my Driving Discount program uses driving data collected by a…
TSB attributes Calgary freight train derailment in part to “likely” fatigue of engineer who had been awake for 23 hours
June 5, 2017 by Canadian UnderwriterThere is an increased risk of tired railway engineers reporting for duty if a rail operator’s “fatigue management procedures do not provide opportunities for potentially fatigued employees to remove themselves from eligibility for duty without fear of discipline,” the Transportation…
Economy at risk without joint Canada-U.S. cyber defence, says former U.S. National Security Agency director
June 2, 2017 Mike Blanchfield - THE CANADIAN PRESSOTTAWA – Canada and the United States need a new cyber defence program – like their joint Norad air defence – to prevent hackers from hobbling their economies, says the former head of the U.S. National Security Agency. Retired general…
Intel predicts autonomous driving will spur new ‘passenger economy’ worth US$7 trillion by 2050
June 2, 2017 by Canadian UnderwriterTechnology company Intel Corporation is predicting that autonomous driving will cause a new “passenger economy” to emerge to support the idle time when drivers become riders, an economy that will be more than twice the size of the “sharing economy.”…
Canadian auto sales set record in May, gain 11.2% compared with a year ago
June 2, 2017 The Canadian PressRICHMOND HILL, Ont. – DesRosiers Automotive Consultants says Canadian auto sales set a monthly record in May, gaining 11.2 per cent year-over-year. The consulting firm says vehicle sales for the month totalled 216,861 including 75,172 cars and 141,689 light trucks,…
Canadian insurance industry needs clear direction and proper framework to address marijuana legalization, industry event hears
June 2, 2017 Jason Contant, Online EditorThe insurance industry in Canada needs clear direction from governments and a proper framework to address the upcoming legalization of marijuana, attendees to an industry event heard on Thursday. “First and foremost, we do not as an industry, and cannot,…
Slice launches “first on-demand insurance platform” for homeshare hosts in 13 states
June 1, 2017 by Canadian UnderwriterSlice Labs Inc., a technology company offering what it calls “the first on-demand insurance platform in the United States,” announced on Wednesday the launch of their homeshare insurance product in 13 states. Homeshare hosts in 13 states – California, Colorado,…
Brokers present ideas for innovative technologies at Aviva Canada’s BrokerTech Launchpad
June 1, 2017 by Canadian UnderwriterAviva Canada announced on Wednesday that it has received its first presentation of ideas from its BrokerTech LaunchPad pilot program, “a program that gives insurance brokers the opportunity to present their ideas for technologies to disrupt, transform and lead the…
36% of polled Canadian firms have no cyber security insurance: FICO
June 1, 2017 by Canadian UnderwriterMore than a third of surveyed Canadian firms do not have cyber security insurance, a concerning situation made worse by an incomplete understanding of how premiums are priced and failure to do everything possible to guard against breaches, FICO notes.…