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Allianz Global Corporate & Specialty
Shipping losses continue to decline but “perfect storm” of regulation, cost savings and cybersecurity looms: AGCS
June 13, 2017 by Canadian UnderwriterLarge 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…
Larger liability claims expected to become more expensive, complex: AGCS
March 30, 2017 by Canadian UnderwriterThere 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,…
Business interruption replaces cyber as top business risk for Canadian respondents to Allianz Risk Barometer
January 11, 2017 by Canadian UnderwriterThe 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…
Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS
November 28, 2016 by Canadian UnderwriterNew 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…
Growth in commercial unmanned aircraft systems, UAS, to bring both benefits, new risks: Allianz
September 13, 2016 by Angela StelmakowichThe 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,…
Commercial insurers in Canada face challenges, opportunities: Kadow
September 12, 2016 Angela Stelmakowich, EditorCALGARY — 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…
Nat cat losses for Allianz Group almost twice 10-year average for Q2
August 8, 2016 by Canadian UnderwriterAllianz Group reported Friday a 2.9-point deterioration in its property & casualty combined ratio, as natural catastrophe losses were “almost twice” its 10-year average for the second quarter. Munich-based Allianz reported its p&c operations had a combined ratio 96.4% during…
Allianz Global Corporate & Specialty launches cyber and professional liability coverage for North America
August 4, 2016 by Canadian UnderwriterAllianz Global Corporate & Specialty (AGCS) has announced the launch of a new cyber and professional liability coverage product designed exclusively for the North American market. Featuring a streamlined form structure with flexible terms, ACCEPT Protect is the “first of…
New Allianz unit to write representations and warranties insurance in Canada
July 20, 2016 by Canadian UnderwriterAllianz Global Corporate & Specialty (AGCS) SE announced Wednesday its new transactional liability unit in North America. “This new practice will offer financial protection specifically to protect against inaccuracies made about target companies or businesses in connection with mergers, acquisitions…
Cyberattacks against critical infrastructure, manufacturers likely to target industrial control systems to manipulate operations: AGCS
June 1, 2016 by Canadian UnderwriterRather than stealing data, cyberattacks against critical infrastructure and manufacturers are more likely to target industrial control systems (ICS) to manipulate or shut down operations, Allianz Global Corporate & Specialty (AGCS) said on Wednesday. As energy, transportation or telecommunication companies,…