Topic
Markets / Coverages
Soft and hard disruptors will vastly transform Canadian collision industry in next 10 years: CCIF speaker
January 27, 2017 Jason Contant, Online EditorThe Canadian collision industry will be “ripped apart beyond belief” in a decade by several disruptors, including connected autonomous vehicles and ridesharing, a speaker suggested Friday at the Canadian Collision Industry Forum (CCIF) meeting in Vaughan, Ont. Andrew King, managing…
Manitoba to streamline farm building code requirements
January 25, 2017 by Canadian UnderwriterThe government of Manitoba announced on Wednesday that it is removing “unnecessary regulatory requirements” on the construction of farm buildings. Manitoba Agriculture Minister Ralph Eichler suggested in a statement that the removal of the regulations will support the long-term, sustainable…
Canadian non-life insurance market poised for 2017 profit recovery: Fitch
January 25, 2017 by Canadian UnderwriterThe Canadian non-life insurance industry is likely to return to an underwriting profit in 2017, according to Fitch Ratings’ new report on the Canadian non-life insurance market. Following a significant improvement in 2015 underwriting performance, the market in aggregate will…
Increase in smart home devices adds new hacking risks: HSB cyber survey
January 25, 2017 by Canadian UnderwriterEight out of ten consumers in the United States have a home data network and more than one-third connect entertainment systems, gaming consoles and other smart devices to the Internet, increasing the risk of home cyberattacks, according to a new…
Red River Basin Commission warns of flood season this year in Manitoba
January 24, 2017 The Canadian PressWINNIPEG – The Red River Basin Commission is warning Manitobans living along the Red River to prepare for a flood season. Manitoba RRBC director Steve Strang says while there is a good possibility of flooding, it is hard to predict…
Gasoline, alcohol sales, food preparation among special risks for supermarkets: Chubb
January 24, 2017 by Canadian UnderwriterChubb Ltd. is advising supermarket operators in the United States who sell alcohol to consider limiting the amount of alcohol a customer can buy and to watch parking lots to ensure customers are not drinking. In a report released Monday,…
Aon announces alternative cyber risk transfer approach
January 24, 2017 by Canadian UnderwriterAon Global Risk Consulting announced on Tuesday its Cyber Captive Program, which guides companies through a series of steps to help identify, assess and quantify their cyber exposures – “ultimately making more informed decisions around risk retention in a captive…
ILS sector set to gather pace after subdued 2016: Aon study
January 23, 2017 by Canadian UnderwriterThe insurance-linked securities (ILS) sector is set to gather steam this year, with a record amount of catastrophe bonds to mature in the first half of 2017, according to a new report from Aon Securities. Aon Securities, the investment banking…
Munich Re, Insurance Europe welcome U.S.-EU covered agreement
January 20, 2017 by Canadian UnderwriterMunich Re and Insurance Europe are welcoming the successful conclusion of “covered agreement” negotiations between the United States and the European Union. Munich Re said in a press release on Thursday that “finalizing the agreement is an important step to…
AIG, National Indemnity ink reinsurance agreement covering long-tail prior-year commercial casualty
January 20, 2017 by Canadian UnderwriterAmerican International Group Inc. said Friday it “expects a material prior year adverse development charge” during the three months ending Dec. 31, 2016 and that National Indemnity Company (NICO) has agreed to reinsure 80% of losses on certain reserves for…
Joy erupts as Italian rescuers pull out avalanche survivors
January 20, 2017 Paolo Santalucia and Gregorio Borgia - THE ASSOCIATED PRESSFARINDOLA, Italy – With cheers of joy, rescue crews pulled survivors from the debris of an avalanche-crushed hotel in central Italy on Friday, an incredible discovery that boosted spirits two days after the massive snow slide buried around 30 people…
Brexit uncertainties weigh on U.K. insurers but rated entities able to withstand pressure: A.M. Best
January 20, 2017 by Canadian UnderwriterRatings firm A.M. Best Company said on Friday that it does not anticipate taking any rating actions as a direct result of plans for the United Kingdom to exit the European Union (EU), “although the cost implications of continuing to…