Keyword
Australia
Aspen posts net income after tax of US$95.5 million for first quarter of 2017
April 27, 2017 by Canadian UnderwriterHamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a net income after tax of US$95.5 million for the first quarter of 2017 ending March 31, down from US$114.4 million in the same quarter of 2016. The insurer’s operating income after…
72% of employees willing to share sensitive, confidential or regulated company info: survey
April 25, 2017 by Canadian UnderwriterNearly three in four (72% of) employees across eight countries, including Canada, are willing to share sensitive, confidential or regulated company information, according to a recent survey from computer technology company Dell. Late last week, Dell released the results of…
March and year-to-date second warmest on record for the world: NOAA
April 21, 2017 by Canadian UnderwriterOn the heels of the second warmest winter in its 138-year record, the National Oceanic and Atmospheric Administration (NOAA) has reported that March 2017 and the year-to-date were the second warmest on record for the world. The March 2017 average…
Swiss Re losses from Cyclone Debbie currently estimated at US$350 million
April 13, 2017 by Canadian UnderwriterSwiss Re currently estimates its claims burden from tropical cyclone Debbie in Australia at about US$350 million, net of retrocession and before tax, while the total insured market losses associated with the event is estimated at around US$1.3 billion. The…
Construction of mitigation infrastructure to protect against flood should be seen as nation-building projects: Australian insurers
April 12, 2017 by Canadian UnderwriterThe Insurance Council of Australia (ICA) cited the Canadian government’s budget commitment to create a Disaster Mitigation and Adaptation Fund in a recommendation to its own federal government to treat the construction of mitigation infrastructure to protect flood-prone towns as…
Southern U.S. crop losses from March storm could exceed $1 billion: Aon
April 7, 2017 by Canadian UnderwriterA weather system that brought sub-freezing temperatures to South Carolina and Georgia, as well as heavy rains in Peru were among the catastrophes with economic losses exceeding $1 billion in March, Aon plc’s Impact Forecasting unit reported Friday in its…
Cyclone Debbie barrels into Australia with damaging winds, flooding rain: AIR
March 29, 2017 by Canadian UnderwriterAustralia is experiencing its most powerful storm since 2011, as Cyclone Debbie roared ashore in Queensland, Australia as a Category 4 storm shortly after noon on Tuesday. Catastrophe modelling firm AIR Worldwide said that Cyclone Debbie struck Airlie Beach as…
Severe weather outbreaks in U.S. in February lead to billion-dollar payout for insurance industry: Aon Benfield
March 8, 2017 by Canadian UnderwriterProlific severe weather outbreaks in the United States lead to an expected billion-dollar payout for the insurance industry as no fewer than five outbreaks of severe weather impacted portions of the country during February, according to Impact Forecasting’s latest Global…
IT decision makers, C-suite executives each believe the other is responsible for cyber breaches: study
February 10, 2017 by Canadian UnderwriterIT decision makers and C-suite executives each believe the other is responsible in the event of a cyber breach, according to new research from BAE Systems, a provider of technology defence, aerospace and security solutions. According to BAE Systems’ 2017…
Beazley expanding presence in Canada with acquisition of Creechurch Underwriters
February 6, 2017 by Canadian UnderwriterLondon-based Beazley announced Monday it is expanding its presence in Canada with the acquisition of specialist managing general agent (MGA) Creechurch Underwriters, and has plans to enhance existing covers and launch new products. Creechurch Underwriter’s current team, led by its…
Weather risk accounts for an estimated US$56 billion in untapped wind energy asset values globally: GCube
January 31, 2017 by Canadian UnderwriterResource underperformance has surpassed mechanical breakdown and component damage as the major obstacle to achieving bankable wind energy projects, GCube Underwriting Ltd. notes in a report estimating the untapped asset values of wind energy stakeholders around the world at US$56…
One in three cyberattacks in the past year resulted in a security breach for Canadian companies, new Accenture survey finds
January 11, 2017 by Canadian UnderwriterRoughly one in three targeted cyberattacks over the past year resulted in an actual security breach for Canadian companies, according to a new survey from global professional services company Accenture. Despite these breaches – which equate to three effective attacks…