Allianz Global Corporate & Specialty (AGCS) has joined forces with the commercial insurance businesses of local Allianz P&C entities, trading under the name Allianz Commercial. The new structure will consist of 11 new regions, bringing together the current six regional…
The trend of above-average hurricane seasons is expected to continue this year and Canadian insurers should heed this warning by preparing Atlantic businesses for more severe hurricanes, according to Allianz Global Corporate & Specialty’s Atlantic Hurricane Season Outlook 2022. “Although Canada…
With environmental, social and governance (ESG) awareness on the rise, insurance companies are starting to hold difficult conversations with their long-standing carbon-producing partners, said three P&C insurance company executives during a Canadian Underwriter webinar on Jan. 25. In compliance with the…
The war for talent has been an ongoing struggle for the P&C industry. Mix that with the influx of workers leaving their jobs during the COVID-19 pandemic, and the search for talent has become that much more difficult. As a result, companies…
Business interruption, cyber incidents, and climate change have been dubbed the Top 3 risks facing Canadian businesses this year, according to a new report. Although these were Canada’s Top 3 risks, Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer…
Allianz Holdings plc has named Colm Holmes, currently CEO of Aviva General Insurance in the United Kingdom, as its new CEO, effective at the end of November 2021. Holmes will be a familiar name to anyone who had dealings with…
Data breaches and the impact of COVID-19 on a company’s financial performance are among the “megatrends” affecting directors’ and officers’ liability claims, Allianz Global Corporate & Specialty warned in a report released Dec. 15. “Outside the U.S., securities class actions…
Allianz Global Corporate & Specialty (AGCS) announced Tuesday it has appointed Bernard McNulty as chief agent for Canada, effective immediately. In addition to taking on the chief agent role, McNulty will remain in his current position as head of claims…
The pandemic is making it difficult for shipping companies to get spare parts and technical professionals aboard to perform essential maintenance and repair, a new report from Allianz Global Corporate & Specialty suggests. For the insurance industry, the most common…
Restrictions imposed on international travel to limit the spread of COVID-19 may be a concern for merchant shipping because crews could be overdue for a rest, Allianz Global Commercial Specialty suggests in a recent paper. “Due to closed international borders…
Business interruption outranked cyber incidents as top concerns for Canadian businesses, brokers and trade organizations, according to a new report from Allianz Global Corporate & Specialty. Globally, however, it’s the other way around. When the annual Allianz Risk Barometer, which…
Predicting losses from wildfire is more difficult than for other natural hazards like wind and earthquake, a risk control expert for one insurer suggests. Catastrophe models that predict losses come from research on how wind and ground motion affects buildings,…