DETROIT – Ford is recalling more than 570,000 vehicles in North America and Europe to fix separate problems that can cause engine fires and doors to fly open unexpectedly. The recalls will hit the company’s bottom line in the first…
Both economic and insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012 – reversing a four-year downtrend – amounting to US$54 billion and US$175 billion, respectively, notes the latest sigma study from the Swiss…
Officials for cities, investors and insurers will increasingly need to “build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty,” argues a new report from Lloyd’s and Arup. “While risk management remains a…
February 2017 was the second warmest February in the 1880-2017 record-keeping period, behind 2016, the National Oceanic and Atmospheric Administration (NOAA) reported recently. February 2017’s average global temperature was 1.76 degrees Fahrenheit above the 20th century average of 53.9 degrees…
Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s continued support for efforts by the federal government to enhance disaster risk reduction and make communities more resilient. “Our industry remains committed to being a full partner with…
Organizations representing the actuarial profession in Canada and the United States have reported an Actuaries Climate Index (ACI) value for the summer of 2016 of 1.72, the third-highest seasonal level recorded. On Tuesday, the four organizations representing actuaries in the…
Insured losses from catastrophe events in Canada reached about $4.9 billion last year, nearly 10 times more severe than 2015, the quietest Canadian catastrophe year on record, according to Property Claim Services’ (PCS) full-year 2016 review. In 2016, PCS designated…
A Worchester, Mass.-based location-based data provider has launched “the highest resolution crime analytics available in Canada,” providing exclusive United States-Canadian total, violent and property crime comparisons. Dr. Andrew Schiller, CEO and founder of Location, Inc. said in a press release…
Surveyed Canadians are becoming more vigilant about guarding against fraud, with the lion’s share of respondents taking measures to protect their personal information and three in 10 seeking help to ensure they are alerted should a fraud be under way.…
Aviva Canada and the DMZ at Ryerson University are looking to answer the rise of Insuretech in the country’s insurance industry with the joint launch of an accelerator program for Canadian start-ups requiring rapid development. “The future of our economy…
RSA Group has reported a record Group underwriting profit of 380 million pounds for 2016 – up 73% from 220 million pounds in 2015 – and a record Group combined ratio of 94.2% compared to 96.9% in 2015. RSA also…
RSA Canada witnessed increased underwriting profit and a solid combined ratio for 2016 despite what can only be described as a challenging year that featured Canada’s most costly insurable nat-Cat ever and a host of other adverse weather events. “We’re…