What has been projected to be Canada’s largest insured loss event, the wildfire in and around Fort McMurray, perhaps will become known for something more positive: how early, co-ordinated and collaborative insurance industry response can help smooth the way to recovery.
The medieval nursery rhyme, ring a ring o’ roses, depicting the ravages of the black plague, could well represent a metaphor for the property and casualty insurance industry’s past erratic pricing behaviour. Now, with a record level of excess capital awash in the global marketplace, has the historical pricing cycle been broken forevermore?
A new insurance policy for transportation network companies (TNCs) is available to insurance firms licensed in Alberta as of July 1, in line with the provincial government’s recently announced TNC framework geared at promoting fairness and road safety. The insurance…
PERILS AG Friday issued an estimate of £538 million for insured property market loss from flooding damage in the United Kingdom as a result of storms in late December and early January. Storms Eva and Frank hit the U.K. in…
The London insurance market is resilient and well-positioned to respond to the United Kingdom’s decision to leave the European Union (EU), the International Underwriting Association of London (IUA) said on Friday. In a referendum held on Thursday, about 52% voted…
Cyber security now ranks among the Top 10 risk factors of manufacturers south of the border, notes a report issued Tuesday by accounting and consulting organization BDO USA, LLP. The lion’s share of manufacturers in the United States analyzed in…
The Ontario government should establish a new organization that would perform the functions currently performed by the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO) but also have a “specific fraud-deterrence mandate,” an expert…
The Independent Insurance Brokers Inc.’s (IIBI) newest member is MacDougall’s Insurance, a family-operated insurance brokerage that has operated in Cape Breton since 1930, a move that extends IIBI’s reach to Cape Breton Island for the first time. Formed in 2000…
Cybersecurity company Kaspersky Lab has reported that its researchers have uncovered a global forum where cybercriminals can buy and sell access to compromised servers for as little as US$6 each. The xDedic marketplace, which appears to be run by a…
The Autorité des marchés financiers (AMF), Quebec’s financial services regulator, has announced the creation of a financial technology (fintech) working group whose primary mandate is to analyze technological innovations in the sector and anticipate regulatory and consumer protection issues. “The…
With the United States National Flood Insurance Program scheduled to expire in September, 2017 and the House of Representatives unanimously approving a bill intended to give consumers more choice in buying flood insurance, the market for flood coverage “may end…
Plug and Play Tech Center, a Silicon Valley global technology accelerator and venture fund, announced on Thursday a call for applications from startups in its insurance platform. Plug and Play Insurance, which was launched in late April in partnership with…