Canadian Underwriter

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business interruption


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

News InsuranceLegalMergers and AqcuisitionsTechnology

Canadian companies likely to pay ransomware demands, among highest for lost revenue and business interruption, international study finds

August 4, 2016 by Canadian Underwriter

Companies in Canada are most likely to pay ransomware demands and are ranked among the highest for lost revenue and business interruption, according to an international study of 5,400 IT staff across Canada, the United States, the United Kingdom and

News CatastrophesInsuranceMergers and Aqcuisitions

March heavy rains in New Zealand cost insurers NZ$30 million: ICNZ

August 2, 2016 by Canadian Underwriter

Two days of rain this past March, amounting to 350 mm that caused several rivers to overflow and evacuations to be ordered, has cost insurers NZ$30.2 million dollars, the Insurance Council of New Zealand (ICNZ) reported Monday. “Hundreds of people

Feature Claims CanadaInsurance

The Over/Under on Property Insurance

July 15, 2016 Timothy Zimmerman and Ari Singer

The importance of determining the value of a commercial property when applying for insurance

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Oilsands companies not expected to make insurance claims from Fort McMurray fire

July 11, 2016 by Canadian Underwriter

CALGARY – Oilsands producers are not expected to be among the recipients of a record insurance payout arising from the wildfire in Fort McMurray, Alta., in May even though some of them had to halt production for weeks at a

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Flood losses expected to dampen French, German insurers’ first-half earnings: A.M. Best

June 21, 2016 by Canadian Underwriter

Flood losses in the wake of storms Elvira and Friederike in late May and early June are not expected to result in ratings actions, but it is anticipated they will hit first-half results for French and German insurers, notes a

News CatastrophesInsuranceMergers and AqcuisitionsProfessional Development

Business continuity training should happen first day on the job: World Conference on Disaster Management speaker

June 8, 2016 Greg Meckbach, Associate Editor

Everyone needs to be trained in business continuity management, and the importance of managing expectations is one lesson learned during the major floods in 2013 in southern Alberta, speakers suggested Tuesday at the World Conference on Disaster Management. “Exercising is

News CatastrophesInsuranceMergers and Aqcuisitions

Global disasters in May, including Fort McMurray wildfire, leading to US$7 billion in claims: Aon Benfield

June 8, 2016 by Canadian Underwriter

Global disasters in May led to at least US$7 billion in claims, including anticipated insured losses in excess of US$3.1 billion from the Fort McMurray wildfire, according to Aon Benfield’s Global Catastrophe Recap for May. The Global Catastrophe Recap report,

News CatastrophesInsuranceMergers and Aqcuisitions

Fort McMurray wildfire loss estimate pegged at $4.6 billion: Property Claim Services data

June 2, 2016 by Canadian Underwriter

The massive Fort McMurray wildfire is expected to cost the Canadian insurance industry $4.6 billion, according to data from Property Claim Services (PCS), a Verisk Analytics business. The loss estimate of $4,630,800,000 includes property damage losses under residential, commercial and

News InsuranceMergers and AqcuisitionsTechnology

Cyberattacks against critical infrastructure, manufacturers likely to target industrial control systems to manipulate operations: AGCS

June 1, 2016 by Canadian Underwriter

Rather 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,

News CatastrophesInsuranceMergers and Aqcuisitions

Causation, aggregation and contingent business interruption issues likely to emerge for reinsurers from Fort McMurray wildfire: CMS London lawyer

May 10, 2016 by Jason Contant

The Fort McMurray wildfire has the potential to give rise to “much more complex issues for the reinsurance market than may appear at first sight,” particularly surrounding issues of causation, aggregation and contingent business interruption (CBI), said a partner with

News CatastrophesInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Business interruption insurance moving into IT realm: NetDiligence Cyber Risk Summit speaker

May 3, 2016 Jason Contant, Online Editor

More and more, the conversation surrounding business interruption (BI) is moving from the physical aspect of BI to the information technology side of things, attendees to the NetDiligence Cyber Risk Summit heard on Friday. Miki Ho, senior underwriter in the