Keyword
AIG
New president for Lloyd’s Canada
June 1, 2020 by Greg MeckbachMarc Lipman, former chief operating officer of American International Group (AIG) Canada, is the new president of Lloyd’s Canada. Lipman (pictured, above) replaces Lisa Duval, who had served as Lloyd’s Canada’s attorney in fact and chief agent, on an interim…
Reinsurer opens shop in Canada
December 19, 2019 by Greg MeckbachValidus Reinsurance Ltd. has established a branch office in Toronto with Heather Legg as its new chief agent, parent company American International Group Inc. announced Thursday. Legg, currently a senior vice president at Validus, is a former senior executive with…
Why management experience is so important for blockchain insurance
August 24, 2018 by Jason ContantGiven that “there are no 10-year-old blockchain companies” in an industry that relies heavily on historical data, how do insurers assess a submission for insurance related to the distributed ledger? Just like you would for any type of “traditional insurance”:…
Why you’ll have trouble finding D&O insurance for clients using blockchain
August 23, 2018 by Jason ContantBrokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and…
Signs of a hardening commercial market
August 20, 2018 by Greg MeckbachShopping around for the best deal for a business client may be getting more difficult as commercial lines prices start to uptick. Among commercial insurers, “it seems there is a little bit of tightening up on the risk appetite,” Raymond…
This Top 5 liability insurer is looking for firms to buy
August 15, 2018 by Greg MeckbachThe corporate parent of Canada’s fourth-largest liability insurer – American International Group Inc. – is actively looking for companies to acquire. “I always look for acquisitions,” said Brian Duppereault, CEO of New York City-based AIG, during a recent earnings call.…
Pay-as-you-go travel insurance comes to Canada
April 2, 2018 by Jason ContantAn AIG company has launched a pay-as-you-go travel insurance app. Travel Guard Group Canada launched the iPhone app last week to allow Canadian customers (except Quebec residents) to purchase travel insurance coverage in blocks of time ranging from one day…
How 2017 hurricanes could affect Canadian insurance prices
January 24, 2018 by Greg MeckbachCanadian property insurers could face reinsurance rate hikes this June as an indirect result of recent California wildfires and North Atlantic hurricanes, a ratings firm analyst predicts, echoing the opinions of several commentators in the Canadian property and casualty (P&C)…
AIG re-enters Lloyd’s business with $5.56-billion deal
January 23, 2018 by Greg MeckbachLess than two years after Canada Pension Plan Investment Board bought Lloyd’s underwriter Ascot Underwriting from American International Group Inc. (AIG), AIG plans to get back into the Lloyd’s business again. AIG announced Monday a US$5.56-billion agreement to acquire Validus…
Your primer on crowdsourcing techniques
December 8, 2017 David Gambrill, Editor-in-ChiefCrowdsourcing, as defined by the consulting firm Crowd Sourcing Week, is “is the practice of engaging a ‘crowd’ or group for a common goal — often innovation, problem solving, or efficiency. It is powered by new technologies, social media and…
Commercial premiums down 13% for AIG
November 3, 2017 by Canadian UnderwriterAmerican International Group Inc. announced Thursday its combined ratio in commercial insurance was 195.4% in the three months ending Sept. 30, up 89.6 points from 105.8% in Q3 2016. New York City-based AIG confirmed Thursday an earlier-released estimate, of $3…
AIG changes organizational structure, adds “standalone technology platform”
September 25, 2017 by Canadian UnderwriterAmerican International Group, Inc. (AIG) announced on Monday that it will transition to General Insurance and Life & Retirement segments, as well as a new “standalone, technology-enabled platform.” AIG said in a statement that it is planning to make changes…