Keyword
Canada
78% of global businesses believe digital start-ups pose threat to their organization: Dell Technologies study
October 7, 2016 by Canadian UnderwriterNearly four in five (78% of) global businesses believe that digital start-ups pose a threat to their organization, either now or in the future, and almost half (45%) surveyed fear that they may become obsolete in the next three to…
Use of comparison sites to buy auto, home insurance developing, but trailing in Canada and the U.S.: Finaccord
October 6, 2016 by Canadian UnderwriterThe use of comparison sites to buy auto and home insurance is developing rapidly, but continues to trail in Canada and the United States relative to the United Kingdom and continental Europe, according to new consumer research from Finaccord. On…
Alberta emergency relief funding following wildfire to end this month
October 6, 2016 by Canadian UnderwriterThe emergency payment program that has helped approximately 96,000 Wood Buffalo evacuees, forced from their homes in the wake of the massive Fort McMurray wildfire this past May, is ending Oct. 31. The program – which has provided wildfire relief…
Ottawa supports pilot project for new credit insurance tool for farmers
September 26, 2016 by Canadian UnderwriterThe federal government is investing more than $400,000 to support the Canadian Federation of Agriculture’s (CFA) efforts to introduce a new accounts receivable insurance tool for farmers. CFA’s two-year pilot project addresses a gap in the agriculture sector for individual…
Change in exposure driving widening gap between insured, economic losses following disaster events
September 14, 2016 by Angela StelmakowichCALGARY – A dramatic loss scenario around disaster events is developing globally, contributing to a widening gap between insured and economic losses, Alex Kaplan, senior vice president of global partnerships for Swiss Re, suggested earlier this week during the RIMS…
AIR Worldwide expands terrorism model for 28 countries, including Canada
September 12, 2016 by Canadian UnderwriterCatastrophe risk modelling firm AIR Worldwide announced on Monday that it has expanded the capabilities of its terrorism risk model to support scenario testing for the United States and 27 other select countries, including Canada, to help companies assess the…
Echelon Financial Holdings Inc. sees lower net income in 2016 Q2, will focus on Canadian operations
August 5, 2016 by Canadian UnderwriterEchelon Financial Holdings Inc. (EFH) is exiting the European market to focus on growing its Canadian operations, which were negatively affected by the Fort McMurray wildfires that contributed to lower net income for both 2016 H1 and Q2 compared to…
Global market for professional indemnity insurance expected to reach US$40.5 billion by 2019: Finaccord
August 3, 2016 by Canadian UnderwriterThe global market for professional indemnity (liability) insurance is on track to climb from its 2015 total of approximately US$36.2 billion in gross written premiums (GWPs) to US$40.5 billion by 2019, Finaccord reported Wednesday. Of the 2015 premium total, the…
Chubb introduces insurance product for private Canadian companies
July 18, 2016 by Canadian UnderwriterChubb Ltd. announced on Monday that it has launched a modular insurance policy designed specifically for Canadian privately owned companies. ForeFront Portfolio addresses the broad range of liability risks faced by Canadian private companies in an increasingly risky and litigious…
Argo Group International Holdings Ltd., Blue Capital Reinsurance Holdings Ltd. report Alberta wildfires will have second-quarter impact
July 18, 2016 by Canadian UnderwriterEstimated losses from the Fort McMurray wildfires have hit another two companies operating in the reinsurance industry, with Bermuda-based Argo Group International Holdings Ltd. and Blue Capital Reinsurance Holdings Ltd. reporting late last week the event will have an impact…
Endurance’s estimated financial impact of several Cat events in 2016 Q2, including Alberta wildfires, is US$55.5 million
July 15, 2016 by Canadian UnderwriterBermuda-based Endurance Specialty Holdings Ltd. reported Thursday that the company’s initial estimated net negative financial impact of several catastrophic events in 2016 Q2, including the wildfires in Alberta, is US$55.5 million. The events included in the initial estimate include the…
Data breaches detection, escalation costs highest in Canada: global IBM/Ponemon report
June 16, 2016 by Canadian UnderwriterDetection and escalation costs related to data breaches were the highest in Canada and lowest in India, note findings of a new global survey released Wednesday. “The average detection and escalation costs for Canada was US$1.60. In contrast, the average…