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Markets / Coverages
Public security minister preaches patience as Quebec towns deal with flooding
May 3, 2017 The Canadian PressMONTREAL – Quebec’s public security minister asked flood-stricken communities to be patient on Tuesday as forecasts called for more rain this week. Numerous Quebec municipalities that border streams and rivers are dealing with floods as heavy precipitation and mild temperatures…
Aftershocks still rumbling following 6.2 quake that jolted Yukon, northwest B.C.
May 2, 2017 The Canadian PressWHITEHORSE – More than 100 aftershocks had shivered across the Alaska Panhandle, southern Yukon and parts of northwestern British Columbia by early Tuesday following two powerful earthquakes a day earlier, but seismologists say while people need to be prepared, it…
Aviva Canada and Hail Storm Products partner up for discount on auto hail protector system
May 2, 2017 by Canadian UnderwriterAviva Canada and Hail Storm Products have teamed up, with the insurance company announcing on Tuesday that customers can now take advantage of an exclusive 20% discount on the Hail Protector Automobile Hail Protection System. “As the world’s only patented…
Insurtech funding in Q1 2017 sees 64% drop from Q1 2016 to US$283 million: Willis Towers Watson Securities
May 2, 2017 by Canadian UnderwriterInsurtech funding in the first quarter of this year saw funding volume of US$283 million, a 64% drop from the first quarter of 2016’s total of US$783 million, likely the result of “start-ups moving from fundraising to product launch stage,”…
Canada lacks ‘commercially widely available wildfire models,’ Aviva Canada reinsurance VP warns
May 2, 2017 Greg Meckbach, Associate EditorInsurers have no “meaningful way of modelling wildfire” losses, a senior executive for Swiss Re Ltd. recently suggested to industry professionals. “If you look at it globally speaking, usually about half of the total insured losses globally are unmodelled perils,”…
Fed likely to leave rates alone but signal more hikes coming
May 1, 2017 Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON – With the U.S. economy on solid footing and unemployment at a near-decade low, the Federal Reserve remains in the midst of a campaign to gradually raise interest rates from ultra-lows. But this week, it’s all but sure to…
ICLR to hold its forecast of 2017 wildfire season on May 10
May 1, 2017 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) is holding its forecast of the 2017 wildfire season on May 10. The forecast, in a webinar running from 11:30 a.m. to 12:15 p.m. EST that day, will feature Dr. Kerry Anderson, fire…
Federal government invests $2.5 million to examine Canadian start-ups
April 28, 2017 by Canadian UnderwriterThe Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has announced a “non-repayable contribution” of up to $2.5 million to Wilfrid Laurier University in Waterloo, Ont. to support a national “scale-up data platform.” The platform will “capture and track…
Kingsway reports net loss of US$1.7 million in first quarter of 2017
April 26, 2017 by Canadian UnderwriterToronto-based Kingsway Financial Services Inc. released its financial results for the first quarter of the year on Wednesday, reporting a net loss attributable to common shareholders of US$1.7 million compared to such a net loss of US$1.5 million in Q1…
Confusion, frustration common to BI claims can be lessened: RIMS survey
April 26, 2017 Angela StelmakowichPHILADELPHIA – Quantifying business interruption losses continues to be a big challenge, reported by almost six in 10 RIMS members taking part in a recent survey, but a well-conceived approach by risk managers can help to clear any hurdles. “By…
ILS market growth continues in first quarter of 2017, record year possible: Willis Towers Watson Securities
April 26, 2017 by Canadian UnderwriterNon-life insurance-linked securities (ILS) capital grew again in the first quarter of 2017, continuing the trend from last year, the securities division of Willis Towers Watson (WTW) has reported. Willis Towers Watson Securities, the investment banking business of WTW, released…
Known, hidden risks in supply chains demand an overall strategy for evaluating and mitigating risk: QBE
April 26, 2017 Angela StelmakowichPHILADELPHIA – The multitude and variety of risks are becoming more predictable, indicating multinational and domestic companies can benefit from taking a look at how global interdependence affects each link of their supply chain, says Jamie Luce, senior vice president,…