Topic
Markets / Coverages
U.S. excess and surplus underwriters likely to outperform P&C industry: Fitch
September 26, 2016 by Canadian UnderwriterExcess and surplus (E&S) underwriters in the United States will likely outperform standard market underwriters in 2017 even if underwriting profitability weakens next year, according to Fitch Ratings’ latest U.S. Excess and Surplus Lines Market Review report. E&S underwriters outperformed…
ICLR webinar to focus on challenges in understanding and projecting precipitation extremes
September 26, 2016 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will be holding a webinar workshop on the challenges in understanding and projecting precipitation extremes. The webinar, part of the ICLR’s Friday Forum series, will be held on Friday, Oct. 14 from 10…
Ottawa supports pilot project for new credit insurance tool for farmers
September 26, 2016 by Canadian UnderwriterThe federal government is investing more than $400,000 to support the Canadian Federation of Agriculture’s (CFA) efforts to introduce a new accounts receivable insurance tool for farmers. CFA’s two-year pilot project addresses a gap in the agriculture sector for individual…
Business interruption, property damage and general liability critical risks to global growth, new study finds
September 23, 2016 by Canadian UnderwriterBusiness interruption (BI) is the leading cause of losses for companies, multinational organizations and non-governmental organizations (NGOs) that operate outside the United States, according to a study released on Thursday by international insurance broker Clements Worldwide. The Clements Worldwide Risk…
Ironshore adds crisis management endorsement, active shooter extension in U.S.
September 23, 2016 by Canadian UnderwriterIronshore Inc. has introduced a crisis management endorsement for all in-force, stand-alone Terrorism policies as an automatic extension so that insureds can access crisis response specialists following an act of terrorism or an active shooter event at an insured location…
OSBIE announces refund of more than $12 million to members
September 23, 2016 by Canadian UnderwriterMembers of the Ontario School Boards’ Insurance Exchange (OSBIE) will receive a record-breaking premium refund of more than $12 million thanks to a concerted focus on risk management and loss control, OSBIE announced Friday. Representing 30% of OSBIE’s annual written…
FEMA announces first-ever reinsurance agreement under NFIP
September 22, 2016 by Canadian UnderwriterThe Federal Emergency Management Agency (FEMA) announced on Thursday its first-ever reinsurance agreement under the National Flood Insurance Program (NFIP). The agreement will allow the NFIP to share flood risk with private reinsurance companies to help defray the cost of…
Understanding potential disruptions to risk analysis, cost basis and distribution key to insurers’ strategies: Novarica
September 22, 2016 by Canadian UnderwriterInsurers need to understand potential disruptions to risk analysis and cost basis as well as distribution to effectively manage their strategies, suggested a new report from Boston-based research and advisory firm Novarica. The pace of technological change makes it a…
Stalled weather system and remnants of tropical storm deluge roads, close schools in Virginia and North Carolina
September 22, 2016 The Associated PressNORFOLK, Va. – Flooding in coastal Virginia and North Carolina blocked roads and forced school closings Wednesday that affected for more than 100,000 students. A stalled weather system and the remnants of Tropical Storm Julia have brought days of rain…
Lloyd’s reports 1.46 billion pound profit for first half of 2016, combined ratio up 8.5 points to 98%
September 22, 2016 by Canadian UnderwriterDespite seeing a “major claims increase due primarily to the Fort McMurray fires in Alberta, Canada” and a challenging market environment, Lloyd’s of London has reported a profit of 1.46 billion pounds – or nearly $2.5 billion – for the…
Gloomy outlook for offshore energy insurance sector: IUMI
September 21, 2016 by Canadian UnderwriterThe offshore energy sector is facing a series of significant challenges in the wake of a falling premium base and increased volatility, cautions the chairman of the International Union of Marine Insurance’s (IUMI) offshore energy committee. “We have not witnessed…
TSB calls for implementation of voice and video recorders on locomotives in Canada
September 20, 2016 by Canadian UnderwriterThe Transportation Safety Board of Canada (TSB) is calling for the implementation of voice and video recorders on locomotives in Canada. The call follows the release of the TSB’s report on its safety study, Expanding the use of locomotive voice…