Topic
Markets / Coverages
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…
Petsecure launches new pet health insurance product with Toronto Humane Society
October 17, 2016 by Canadian UnderwriterPet health insurance insurance company Petsecure announced on Monday that it is partnering with the Toronto Humane Society to offer a new pet health insurance product for consumers in the Greater Toronto Area. “Supporters of the Toronto Humane Society” are…
Worldwide shipments of 3D printers to grow 108% in 2016: Gartner
October 14, 2016 by Canadian UnderwriterWorldwide shipments of 3D printers will grow 108% in 2016 to reach 455,772 units, more than doubling the 219,168 units shipped in 2015, according to the latest forecast from Gartner, Inc. The Stamford, Conn.-based information technology research and advisory company…
Infrastructure Canada to contribute more than $20.5 million to protect three Alberta communities from flood risks
October 13, 2016 by Canadian UnderwriterInfrastructure Canada announced on Thursday that it will contribute more than $20.5 million to help protect three Alberta communities from flood risks. The new federal funding for three disaster mitigation projects was announced in Canmore, Alta. for projects in Canmore,…
GCube predicts “further growth” in wind energy sector
October 12, 2016 by Canadian UnderwriterLloyd’s coverholder GCube Insurance Services Inc. announced Wednesday it now provides coverage for more than 4 Gigawatts of Canadian wind energy assets. The company stated in a press release it is “confident” that it will “continue to see further growth…
Tina Osen named president of HUB Canada; Chad Robertson HUB’s new EVP of international business and growth initiatives
October 12, 2016 by Angela StelmakowichTina Osen, currently president of HUB TOS in British Columbia, will take on duties as HUB Canada’s new president. “Tina will champion our commitment to growing in Canada, where HUB’s roots are,” Marc Cohen, the recently appointed president of HUB…
Pool Re announces launch of International Forum of Terrorism Risk (Re)Insurance Pools
October 11, 2016 by Canadian UnderwriterPool Re, which reinsures property damage and business interruption against terrorism risk in Great Britain, announced on Monday the launch of the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP). The formation of IFTRIP is the culmination of a Pool…
Business interruption payouts should be based on historic results even in post-disaster economy: AEIC speaker
October 11, 2016 by Angela StelmakowichThe Fort McMurray wildfire will likely raise questions about the basis for business interruption (BI) insurance payouts in a post-catastrophe economy, but historic results are the best indication of what otherwise would have occurred, Emily Stock argued during the 43rd…
Adoption of smart contracts to decrease risks and costs, increase efficiencies: Capgemini
October 11, 2016 by Angela StelmakowichLower costs and higher efficiencies can be realized through adoption of smart contracts, with potential annual savings in the personal motor insurance industry alone amounting to US$21 billion globally thanks to automation and reduced processing overheads in claims handling, Capgemini…
Canadian P&C industry combined ratio improves to 96% in 2015 from 99% in 2014
October 7, 2016 by Canadian UnderwriterThe property and casualty insurance industry in Canada reported an aggregated combined ratio of 96% in 2015, a three-point improvement from 99% in the previous year, driven by fewer severe weather and catastrophe events, the Office of the Superintendent of…
Alberta emergency relief funding following wildfire to end this month
October 6, 2016 by Canadian UnderwriterThe emergency payment program that has helped approximately 96,000 Wood Buffalo evacuees, forced from their homes in the wake of the massive Fort McMurray wildfire this past May, is ending Oct. 31. The program – which has provided wildfire relief…
Commercial insurance for Airbnb hosts available in Iowa from insurtech startup Slice
October 5, 2016 by Canadian UnderwriterSlice Labs Inc. announced Wednesday the launch of a private beta in which commercial insurance is being offered to hosts in Iowa who rent their homes. “The first product applies to homeshare hosts renting their homes on various homeshare platforms,”…