Topic
Markets / Coverages
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…
Archway Insurance purchases H.S. Terris Insurance
October 24, 2016 by Canadian UnderwriterArchway Insurance has enhanced its commitment to Nova Scotia’s Cumberland County, where its head office is located, with the purchase of Springhill-based H.S. Terris Insurance. Effective Nov. 1, Amherst, N.S.-based brokerage announced Monday, the acquisition will build on its presence…
Quebec says Canadian Pacific directly responsible for 2013 Lac-Mégantic damages
October 21, 2016 Giuseppe Valiante - THE CANADIAN PRESSMONTREAL – Canadian Pacific Railway is directly responsible for damages caused when a runaway train carrying crude oil derailed in 2013 in Lac-Mégantic, according to new allegations recently filed in court by the Quebec government. The railroad was responsible for…
Insurers who fail to “adapt to what millennials are looking for” will let go of “majority” of customers: Intact president
October 20, 2016 Greg Meckbach, Associate EditorInsurance providers need to “rethink” how they provide advice to customers in their 20s and 30s, the president of Intact Insurance suggested Thursday to an audience of Ontario brokers. “Millennials still want advice,” Intact Insurance president Jean-Francois Blais said during…
Great British Columbia ShakeOut attracts record number of registrants
October 20, 2016 by Canadian UnderwriterThe Great British Columbia ShakeOut is clearly gaining more traction, with a record 800,000 British Columbians registering for today’s “Drop, Cover and Hold On” drill, joining almost 41.5 million others around the world. “This year, we saw the largest number…
Bank of Canada maintains interest rate at 0.5%
October 19, 2016 by Canadian UnderwriterThe Bank of Canada announced on Wednesday that it is maintaining its interest rate target at 0.5%, while downgrading its growth outlook for the country. The central bank expects Canada’s real gross domestic product (GDP) to grow by 1.1% in…
Aegon, Allianz, Munich Re, Swiss Re and Zurich launch blockchain initiative B3i
October 19, 2016 by Canadian UnderwriterFive insurers and reinsurers – Aegon, Allianz, Munich Re, Swiss Re and Zurich – have launched the blockchain insurance industry initiative B3i, aimed at exploring the potential of distributed ledger technologies to better serve clients through faster, more convenient and…
Some diesel fuel safely pumped from sunken tug on B.C. central coast
October 18, 2016 The Canadian PressBELLA BELLA, B.C. – Salvage crews have removed more than 23,000 litres of diesel from a sunken tug on British Columbia’s central coast in the latest effort to avert an environmental disaster near the Great Bear Rainforest. A second attempt…
TSB reiterates call for expanded requirements for the use of cockpit voice recorders and flight data recorders following Kelowna accident
October 18, 2016 by Canadian UnderwriterThe Transportation Safety Board of Canada (TSB) has reiterated its call for expanded requirements for the use of cockpit voice recorders and flight data recorders following the Kelowna, B.C. accident that claimed the life of former Alberta Premier Jim Prentice…
Canada, nearly 200 other countries agree to “phase down” hydrofluorocarbons
October 17, 2016 by Canadian UnderwriterCanada and the 196 other countries that are part of the Montreal Protocol on Substances that Deplete the Ozone Layer have agreed to phase down hydroflourocarbons (HFCs), greenhouse gases that can be hundreds to thousands of times more potent than…