Canadian Underwriter

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Echelon reports Canadian combined ratio of 94% for Q1 2017, down 6% from Q1 2016

May 4, 2017 by Canadian Underwriter

Mississauga, Ont.-based Canadian P&C insurer Echelon Financial Holdings Inc. has reported a Canadian combined operating ratio of 94% for the three months ending March 31, down from 100% in Q1 2016 and driven by strong results in both personal and

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Can-Sure Underwriting & Beacon Underwriting promotes Cameron Copeland to president

April 18, 2017 by Canadian Underwriter

Canadian property and casualty managing general agency (MGA) Can-Sure Underwriting and Beacon Underwriting announced on Tuesday that Cameron Copeland will assume the role of president. Copeland assumed the role effective April 15, succeeding Can-Sure founder Jeff Hart, who has “decided

News CatastrophesInsuranceMergers and Aqcuisitions

PERILS discloses second property loss estimate of 234 million euros for extratropical cyclone Egon

April 12, 2017 by Canadian Underwriter

PERILS AG has disclosed its second loss estimate of 234 million euros for extratropical cyclone Egon, which affected France and Germany on Jan. 12 and 13 of this year. The cold front associated with Egon resulted in heavy rain and

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Commercial insurance prices in U.S. remain flat during 2016 Q4

March 13, 2017 by Canadian Underwriter

Commercial insurance prices in the United States were almost flat during 2016 Q4, with price increases of less than 1% for the fifth straight quarter, Willis Towers Watson (WTW) reports in its latest Commercial Lines Insurance Pricing Survey (CLIPS). CLIPS

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Government of Alberta advances Disaster Recovery Program funding to help with Fort McMurray uninsurable costs

February 24, 2017 by Canadian Underwriter

The government of Alberta announced on Thursday that it is advancing $20 million in Disaster Recovery Program funding to help with uninsurable costs related to the Fort McMurray wildfire. The funding is intended to help with uninsurable costs, such as

News CatastrophesInsuranceMergers and Aqcuisitions

PERILS enters into strategic alliance with CatIQ to provide industry loss data for Canada

February 1, 2017 by Canadian Underwriter

PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, announced on Wednesday that it has entered into a strategic alliance with Toronto-based Catastrophe Indices & Quantification Inc. (CatIQ) to provide industry loss data for Canada. With immediate effect,

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Intact must help defend pollution lawsuit due to exception in exclusion for “sudden and accidental” release

January 23, 2017 by Canadian Underwriter

Intact Insurance must participate in the defence of a lessee of commercial property – on a Grimsby, Ont. site formerly occupied by a gas station – which is being sued by a neighbouring property owner alleging that contaminants migrated to

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Total insured value of U.S. residential and commercial coastal properties now exceeds US$13 trillion: AIR

November 11, 2016 by Canadian Underwriter

The total insured value of exposed residential and commercial properties in coastal counties in the United States now exceeds US$13 trillion, according to a new report from AIR Worldwide. The catastrophe risk modelling firm released the report titled The Coastline

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A.M. Best maintains stable outlook for Canadian P&C industry; financial results strong again in 2015

November 8, 2016 by Canadian Underwriter

Ratings firm A.M. Best Company continues to maintain a stable outlook for the Canadian property and casualty insurance industry, noting that it has “historically shown resilience and the ability to adapt when necessary.” A.M. Best’s stable outlook is based primarily

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Ontario-based MGAs Excess Underwriting and Towerhill Insurance Underwriters merge

November 3, 2016 by Canadian Underwriter

Excess Underwriting and Towerhill Insurance Underwriters Inc., both coverholders at Lloyd’s, announced on Thursday that they have merged effective Nov. 1. The companies will serve their broker partners as Excess Underwriting operated by Towerhill Insurance Underwriters Inc., said a joint

News CatastrophesInsuranceMergers and Aqcuisitions

Hurricane Matthew unlikely to have material impact on insurance market: Willis Towers Watson

October 7, 2016 by Canadian Underwriter

With Hurricane Matthew weakening and being downgraded, it is less likely it will reach the US$30 billion initial loss estimates offered by catastrophe modelling firms, said Gary Marchitello, head of property broking with Willis Towers Watson (WTW). “The US$30 billion

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SGI Canada reports underwriting income of $42 million for 15 months ending March 31

July 19, 2016 by Canadian Underwriter

Saskatchewan Government Insurance announced Monday that the province’s Auto Fund had an underwriting loss of $11.1 million for the 15 months ending March 31, 2016, while SGI Canada, the competitive arm of SGI, had underwriting income of $42 million during