Topic
Markets / Coverages
Marine market faced with “aging fleet of vessels,” CBMU president says
December 5, 2016 by Canadian UnderwriterThe marine insurance market is “very competitive” and worldwide, premiums dropped 10.5% from 2014 to 2015, due in part to currency fluctuations, the president of the Canadian Board of Marine Underwriters said at a recent presentation. In the marine insurance…
Alcohol or drugs a contributing factor in one-third of fatal crashes this year on RCMP-patrolled roads in New Brunswick
December 5, 2016 by Canadian UnderwriterSo far this year, use of alcohol or drugs was a contributing factor in more than one-third of fatal vehicle crashes on roads patrolled by the RCMP in New Brunswick, the police force said in a statement on Friday. Statistics…
Death toll grows to 36 at Oakland warehouse fire
December 5, 2016 Kristin J. Bender and Brian Melley - THE ASSOCIATED PRESSOAKLAND, Calif. – The death toll in the Oakland warehouse fire has grown to 36 and authorities say they expect the number to rise when they resume work later Monday following a temporary work stoppage. A wall is leaning inward,…
U.S. insurance broker profitability to persist in 2017, be supplemented by organic revenue growth: Fitch
December 2, 2016 by Canadian UnderwriterFitch Ratings expects insurance broker earnings and revenue south of the border to likely to modestly improve in 2017 compared to the first nine months of 2016. “In 2017, Fitch expects brokers will continue to supplement organic revenue growth through…
Swiss Re plans to expand R&D capabilities to efficiently allocate capital into growing risk pools
December 2, 2016 by Canadian UnderwriterSwiss Re’s stronger focus on and investment in research and development (R&D) to identify risk pools, as well as its move to further leverage technology, seeks to meet the twin goals of facilitating enhanced client support and creating competitive advantage.…
Incumbent insurers need to understand the “ABCs of insurtech,” Novarica says
December 1, 2016 by Canadian UnderwriterIncumbent insurers need to understand the “ABCs” of insurtech – Analytics Arms Dealers, Beneficial Bots, Creative Carriers and Digital Distributors – to get a better grasp of the space, according to a new executive brief from Boston-based research and advisory…
Ontario launches consultations to cut red tape in financial services sector
December 1, 2016 by Canadian UnderwriterThe province of Ontario is launching consultations until the end of January 2017, asking businesses and the public to help identify and improve regulations that are “unclear, outdated, redundant or unnecessarily costly” for the financial services sector. Feedback can be…
Protective Cover
December 1, 2016 Sean van Zyl, Freelance WriterThe role of capital markets in alternative risk transfer within the property and casualty insurance industry is not new. However, the development of sophisticated financial instruments continues to expand, with resilience bonds being the latest arrival in the catastrophic risk market.
In Touch
December 1, 2016 Canadian UnderwriterTechnology is today’s shiny new thing in the property and casualty insurance industry. Unlike many passing fancies, though, technology offers great promise for enhancing efficiencies, identifying risks and cutting costs. Still, insurers need to guard against becoming distracted and straying from what needs to be their ultimate focus: improving customer experience.
Insurers that carry out a significant acquisition outperform their peers, with the strongest outperformance in North America: study
December 1, 2016 by Canadian UnderwriterInsurance firms that carry out a significant acquisition outperform their peers, with the strongest outperformance seen in North America, followed by Europe and Asia-Pacific, according to a new study. Based on analysis from Willis Towers Watson (WTW) and the University…
After new energy regulations, Oklahoma’s earthquake rate drops
November 30, 2016 Seth Borenstein - THE ASSOCIATED PRESSWASHINGTON – The rate of earthquakes in Oklahoma has dropped dramatically since late May, when the state limited wastewater injections into energy wells, an Associated Press statistical analysis shows. And a new scientific study says the state is on its…
Lawyer explains why some federally-regulated employees cannot be dismissed without cause
November 30, 2016 by Canadian UnderwriterA Supreme Court of Canada ruling released in July has “huge ramifications” for employers in the trucking industry, while a more recent decision provides guidance on interpreting standard-form contracts, a lawyer suggested Tuesday to insurance professional in Toronto. In its…