Topic
Markets / Coverages
‘No progress’ since 2010 of mandating safety management systems to “broader range” of aviation, marine companies: TSB
November 1, 2016 by Canadian UnderwriterSome firms in Canada’s marine and aviation sectors are allowed to operate with no formal safety management processes, the Transportation Safety Board of Canada warned Monday. “Safety management systems have not yet been mandated in all sectors of the transportation…
CNA Financial posts net income of US$343 million in 2016 Q3
November 1, 2016 by Canadian UnderwriterCNA Financial Corporation saw net income jump US$165 million to US$343 million in 2016 Q3 over the prior-year quarter, driven by the performance of its Property & Casualty Operations, higher net investment income and stable catastrophe losses. Net income for…
Canadian business executives report not doing enough to protect data, security concern over migrating to the cloud persists: Microsoft Canada
October 31, 2016 by Angela StelmakowichSkepticism over security when migrating to the cloud was voiced by almost six in 10 Canadian senior-level business leaders taking part in a Microsoft Canada Inc. survey. In all, 58% of the 711 respondents from the private and public sectors…
Officials in quake ridden central Italy assess damage
October 28, 2016 Alessandra Tarantino and Colleen Barry - THE ASSOCIATED PRESSVISSO, Italy – Officials in central Italy began early Thursday to assess the damage caused by a pair of strong earthquakes in the same region of central Italy hit by a deadly quake in August, as an appeal went out…
40% of polled U.S. policyholders who purchased cyber coverage in last six months have increased coverage: Council of Insurance Agents & Brokers
October 28, 2016 by Canadian UnderwriterThe Council of Insurance Agents & Brokers (CIAB) in the United States has reported that nearly 40% of polled policyholders who purchased cyber coverage in the last six months have increased their coverage levels. Earlier this week, the CIAB released…
Everest Re’s combined ratio improves five points to 85.6% in Q3 2016
October 27, 2016 by Canadian UnderwriterHamilton, Bermuda-based Everest Re Group, Ltd. has reported a combined ratio for the third quarter of this year of 85.6%, a five-point improvement from 90.6% in the same quarter of 2015. Excluding catastrophe losses, reinstatement premiums and prior period loss…
Aspen Insurance reports a combined ratio of 93.8% for the third quarter of 2016
October 27, 2016 by Canadian UnderwriterHamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a combined ratio of 93.8% for the third quarter of 2016, up slightly from 93.4% in the third quarter of 2015. Aspen Insurance released its financial results on Wednesday, reporting a net…
Back to business results expected from oilsands as wildfire impact dissipates
October 26, 2016 Dan Healing - THE CANADIAN PRESSCALGARY – Oilsands producers are expected to report back-to-business third-quarter results over the next few days as they shrug off lingering impacts of last May’s devastating wildfires in Fort McMurray, Alta. While provincial estimates report that Alberta oilsands production dropped…
AIG quadruples global property terrorism insurance limits to $1 billion
October 26, 2016 by Canadian UnderwriterAmerican International Group, Inc. (AIG) announced on Wednesday that it has raised its property terrorism insurance limits globally to $1 billion. The larger capacity is available to clients on a standalone basis or as expanded limits within AIG’s Large Limits…
Mixed North American commercial insurance market still favours buyers: Willis Towers Watson report
October 26, 2016 by Canadian UnderwriterThe marketplace for property, casualty and other lines of commercial insurance will continue to favour insurance buyers in 2017, particularly those with comprehensive strategic risk management and risk transfer strategies, global advisory, broking and solutions company Willis Towers Watson (WTW)…
Insurance industry must work to reduce protection gap, burden on governments
October 25, 2016 by Canadian UnderwriterThe insurance industry needs to capitalize on its unique risk understanding to reduce the financial burden on governments in light of “the daunting scale of the protection gap,” Nick Frankland, CEO of EMEA operations for Guy Carpenter & Company, LLC,…
Low oil prices a double-edged sword for Canadian economy: KPMG seminar speaker
October 24, 2016 Jason Contant, Online EditorLow oil prices continue to present a major challenge for the Canadian economy, but they could be viewed as a “positive shock” for some jurisdictions and the economy of the United States, a speaker suggested on Monday at KPMG’s annual…