Canadian Underwriter

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Allianz Global Corporate & Specialty

News Insurance

Flammable liquid risk should be top of mind for these clients

August 19, 2019 by Greg Meckbach

Commercial clients looking for ways of managing wildfire risk should turn their mind at some point to flammable liquid storage. “You wouldn’t want a gas can right up against the building,” said Scott Steinmetz, global head of risk control, MidCorp

News ConstructionInsurance

Bigger may not always be better to insure

May 3, 2018 by David Gambrill

Supertall structures, buildings more than 300 metres high or 90 storeys tall, are in vogue right now, raising interesting insurance challenges, according to a recent industry trends report released by the Insurance Institute of Canada. “Increasingly complex high-rise building projects

News AnnouncementsClaimsInsuranceTechnology

Allianz trials blockchain prototype for the captive insurance market

November 7, 2017 by Canadian Underwriter

International insurance transactions can be significantly accelerated and simplified, suggests a trial by Allianz Global Corporate & Specialty (AGCS) involving the successful implementation of a blockchain prototype for the captive insurance market. “We are currently seeing many blockchain applications in

News CatastrophesClaimsClimate ChangeInsurance

Hurricanes look to be increasing, drivers of higher related losses less prominent in Canada than in U.S.: AGCS

October 30, 2017 by Angela Stelmakowich

Lower population increase and development in coastal areas of Canada compared to the United States will likely help ensure losses are less likely to increase, suggests Andrew Higgins, technical manager – Americas for Allianz Risk Consulting, LLC. “Certainly, sea level

News CatastrophesClaimsClimate ChangeInsurance

Hurricane recent events, history illustrate need to beef up preparedness: AGCS

October 27, 2017 by Angela Stelmakowich

The preparedness of U.S. businesses is still wanting despite lessons learned from Hurricane Sandy and the high hurricane activity, devastation and losses so far this Atlantic hurricane season, suggests Allianz Global Corporate & Specialty (AGCS). “In light of lessons learned

News Insurance

AGCS expands terrorism, political violence insurance offering in the U.S.

August 24, 2017 by Canadian Underwriter

Allianz Global Corporate & Specialty (AGCS) is now providing bespoke coverage designed to protect U.S. businesses faced with loss related to terrorism and political violence both at home and overseas. Given the recent tragic events in Europe and Virginia, the

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Shipping losses continue to decline but “perfect storm” of regulation, cost savings and cybersecurity looms: AGCS

June 13, 2017 by Canadian Underwriter

Large shipping losses have declined by 50% over the past decade, but a “perfect storm” of regulation, cost savings and cybersecurity looms, according to Allianz Global Corporate & Specialty’s (AGCS) fifth annual Safety and Shipping Review 2017. The report, released

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Larger liability claims expected to become more expensive, complex: AGCS

March 30, 2017 by Canadian Underwriter

There is increasing potential for “larger liability claims to become more expensive, complex and international, demonstrating the pervasive and long-term nature of liability losses,” suggests a new global claims review released Thursday by Allianz Global Corporate & Specialty (AGCS). Industrial,

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Business interruption replaces cyber as top business risk for Canadian respondents to Allianz Risk Barometer

January 11, 2017 by Canadian Underwriter

The risk of cyber incidents has plummeted from first to fifth place among Canadian respondents in an annual survey by Allianz of the most important business risks, while more than one in seven Canadian respondents identified quality deficiencies, serial defects

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsTechnology

Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS

November 28, 2016 by Canadian Underwriter

New and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing

News InsuranceLegalMarkets / CoveragesMergers and AqcuisitionsTechnology

Growth in commercial unmanned aircraft systems, UAS, to bring both benefits, new risks: Allianz

September 13, 2016 by Angela Stelmakowich

The use of unmanned aircraft systems (UAS) is set to soar south of the border — expected to triple the number of manned aircraft by year’s end — producing new risks that will require insurers to adopt a new view,

News InsuranceMergers and AqcuisitionsProfessional Development

Commercial insurers in Canada face challenges, opportunities: Kadow

September 12, 2016 Angela Stelmakowich, Editor

CALGARY — Current trends around ownership of brokers by insurers is “basically leaving the mid- to large end of the commercial market to fight over,” Ulrich Kadow, chief agent, Canada for Allianz Global Corporate & Specialty Americas (AGCS), said in