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News CatastrophesInsurance

New Global Alliance of Disaster Research Institutes formed

March 24, 2015 by Canadian Underwriter

The Toronto-based Institute for Catastrophic Loss Reduction (ICLR) announced on Monday that it will immediately form a new worldwide alliance with an international group of disaster research institutes. The proposal builds on initiatives presented at the Sendai Framework for Disaster

News InsuranceMergers and Aqcuisitions

P&C rates in the U.S. real estate industry expected to soften in 2015: Marsh LLC

March 17, 2015 by Canadian Underwriter

Property, casualty and financial and professional liability rates in the United States’ real estate industry are generally expected to soften in 2015, barring unforeseen changes, Marsh LLC said on Monday. [click image above to enlarge] The finding was from Marsh’s

News Insurance

Caribbean general insurance market remains profitable: A.M Best report

March 17, 2015 by Canadian Underwriter

The Caribbean general insurance market remains profitable, albeit challenging, for participants, according to the latest special report by ratings firm A.M. Best. Company Inc. The company’s special report, titled Caribbean-based General Insurers: What Lies Ahead? and released on Monday, states

News Earnings / RatingsInsurance

Evolving solvency regimes create further opportunities for Asia insurers: Aon Benfield

March 16, 2015 by Canadian Underwriter

The introduction of China’s second-generation solvency regime C-ROSS (China Risk Oriented Solvency System) will impact both the fast-growing insurance market itself and beyond, Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, said in a report on

News Insurance

Direct writers’ ‘overall threat’ to brokers ‘limited:’ Independent Insurance Agents & Brokers of America

March 16, 2015 by Canadian Underwriter

Direct insurance writers in the United States nearly doubled their market share in personal lines over 18 years, but the market share for regional carriers writing through independent agents is on the rise, with some carriers providing instant online quotes

News Insurance

Continued acceleration of activity in insurance M&A market expected: Deloitte

March 11, 2015 by Canadian Underwriter

A number of indicators support continued acceleration of activity in the insurance mergers and acquisitions (M&A) market, notes a new report from Deloitte. In 2013 and 2014, “an increased number of large M&A announcements helped to drive the aggregate deal

News Insurance

Enterprise mobility management requires individualized approach: Telus

March 11, 2015 Jason Contant, Online Editor

Handling a fleet of mobile devices in the workforce involves tailoring the approach to the individual user, suggested Graham Chalk, manager of enterprise mobility management (EMM) for Telus Corp., during his presentation at the P&C Technology Conference in Toronto on

News CatastrophesInsuranceMergers and Aqcuisitions

First use of dual-polarization to more precisely map hail for U.S. insurance industry: Verisk Climate

March 9, 2015 by Canadian Underwriter

Verisk Climate recently reported the company will use hail data – derived from two significant U.S. radar infrastructure improvements – during the 2015 severe weather season to help more precisely map where hail falls and how severe it is. The

News Insurance

Cybersecurity awareness top of mind for internal auditors: Protiviti

March 4, 2015 by Canadian Underwriter

A study from global consulting firm Protiviti said that while many organizations rate themselves as less than “very effective” at addressing their cybersecurity risks, the results are significantly better for organizations in which the board of directors has a high

News Insurance

Cyber attacks and data loss key concerns for supply chain relationships

March 4, 2015 by Canadian Underwriter

Third-party security is a top business concern for enterprises, but there is a steep disconnect in resources available to adequately and objectively manage this security, suggested a new study released on Tuesday. Security ratings company BitSight Technologies released the commissioned

Feature

Seeking Satisfaction

March 1, 2015 Timothy Bebout, Director of Commercial Insurance Practice, J.D. Power

J.D. Power’s recent study of risk professionals and risk management team members in the United States and Canada shows that insurers and brokers need to work together to meet commercial customer needs. Care must be taken with regard to limiting customer-reported issues, understanding the customer’s business and communicating effectively.

Feature

Break the Ice

March 1, 2015 Eric Robinson, Senior Scientist, AIR Worldwide

When it comes to winter storm damage, does the industry have enough information (over a long enough period of time) to accurately quantify the risk? Claims experience, catastrophe models, responsible risk management and solid underwriting practices are all needed to develop a full picture of the risk.