Canadian Underwriter

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Markets / Coverages


Feature CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Response to Recovery

July 2, 2016 Bill Adams, Vice President, Western and Pacific, Insurance Bureau of Canada

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.

Feature InsuranceMarkets / Coverages

Death of the Pricing Cycle?

July 1, 2016 Sean van Zyl, Freelance Writer

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?

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Alberta’s new insurance policy for TNCs a first for a Canadian province, policy available July 1

June 30, 2016 by Canadian Underwriter

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

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Latest estimate of insured losses from Eva-Frank flooding £538 million: PERILS AG

June 27, 2016 by Canadian Underwriter

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

News Earnings / RatingsInsuranceMarkets / Coverages

London insurance market “well-positioned” to respond to Brexit, but decision could be “moderately credit negative”

June 24, 2016 by Canadian Underwriter

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

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Cyber security enters U.S. manufacturers’ Top 10 risks: BDO

June 22, 2016 by Canadian Underwriter

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

News AssociationsInsuranceLegislation / RegulationMarkets / Coverages

New Ontario financial services regulator should have anti-fraud authority: Panel

June 20, 2016 by Canadian Underwriter

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

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Maritime brokers group welcomes MacDougall’s Insurance as newest member

June 20, 2016 by Canadian Underwriter

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

News InsuranceLegalMarkets / CoveragesMergers and AqcuisitionsTechnology

Kaspersky exposes massive underground market selling more than 70,000 hacked servers

June 17, 2016 by Canadian Underwriter

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

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Quebec’s financial services regulator creates fintech working group

June 16, 2016 by Canadian Underwriter

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

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Excess & surplus property insurers ‘may be first’ to enter U.S. flood market if proposed reforms passed into law: S&P

June 16, 2016 by Canadian Underwriter

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

News InsuranceMarkets / CoveragesTechnology

Silicon Valley technology accelerator announces call for applications from insurance startups

June 16, 2016 by Canadian Underwriter

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