Keyword
Commercial Risk Management
Lloyd’s 2015 first-half profit of 1.19 billion compares to 1.65 billion in 2014 H1
September 10, 2015 by Canadian UnderwriterExpert underwriting and rigorous oversight has helped Lloyd’s achieve pre-tax profit of £1.19 billion during the first half of 2015, although the figure is down from “exceptional high” of £1.65 billion for the first six months of 2014. At June…
One of the worst wildland/urban interface fire disasters in modern Canadian history could be repeated, study suggests
September 9, 2015 by Canadian UnderwriterPresent conditions at the study sites of one of the worst wildland/urban interface (WUI) fire disasters in modern Canadian history – the 2003 Okanagan Mountain Provincial Park wildfire in Kelowna, British Columbia – indicate that the disaster could be repeated,…
Alberta working with U.S., U.K. on climate policy: environment minister
September 9, 2015 Bob Weber - THE CANADIAN PRESSEDMONTON – Alberta’s environment minister is acknowledging the provincial government is coming under more international pressure to improve its record on climate change. “I’ve had meetings with the U.K. consul general and with the Americans as well,” Shannon Phillips told…
El Nio may accelerate “nuisance flooding”: NOAA
September 9, 2015 by Canadian UnderwriterMany mid-Atlantic and West Coast communities in the United States could see the highest number of nuisance flooding days on record through April due to higher sea levels and more frequent storm surge, compounded by the strengthening El Niño, which…
Developing digital capabilities key for U.S. insurers: study
September 9, 2015 by Canadian UnderwriterDeveloping digitally-enabled capabilities is a high priority for insurers in the United States, with initial priorities focused on improving operations like billing/payments, sales and marketing, and eService for customers and agents, according to a new study from Majesco. The report…
Global annual tab for cyber crime US$445 billion, cyber insurance market forecast to grow to US$20 billion-plus by 2025: AGCS
September 9, 2015 by Canadian UnderwriterThe world’s 10 largest economies account for half of the US$445 billion that cyber crime costs the global economy every year, and costs – absent preventive measures – are unlikely to wane in light of a new crop of challenging…
Beck taxi launches petition calling for Toronto to lower fares
September 9, 2015 Peter Henderson - THE CANADIAN PRESSTORONTO – Beck Taxi is calling on the City of Toronto to lower the price of a cab fare as taxi companies deal with falling ridership in the face of competition from upstarts like Uber. The Toronto-based taxi company is…
Northbridge first carrier certified eDocs for commercial lines by CSIO
September 8, 2015 by Canadian UnderwriterNorthbridge Insurance, a unit of Toronto-based Fairfax Financial Holdings Ltd., has obtained eDocs certification, for commercial lines, from the Centre for Study of Insurance Operations, CSIO announced Tuesday. EDocs is intended to help brokers save time by allowing them to…
Ontario agriculture insurance expansion law comes into force
September 8, 2015 by Canadian UnderwriterA law that could potentially expand production insurance in Ontario offered by Agricorp is now in force, the province announced Saturday. Bill 40, the Agriculture Insurance Act (Amending the Crop Insurance Act, 1996) came into force Sept. 1, the government…
Alberta regulator says Nexen can reopen utility pipelines at oilsands operation
September 8, 2015 by Canadian UnderwriterCALGARY – Nexen Energy is being allowed to reopen some pipelines at an Alberta oilsands operation after provincial regulators suspended the licences for them last month. The Alberta Energy Regulator says that after inspecting Nexen’s Long Lake facility and reviewing…
City of Edmonton proposes new Vehicle for Hire Bylaw
September 4, 2015 by Canadian UnderwriterThe City of Edmonton announced on Friday that it has proposed a new Vehicle for Hire Bylaw that would allow technology-based dispatchers to operate, while also seeking to maintain a competitive traditional taxi sector. “Many Edmontonians said they wanted us…
Tianjin explosions set to become one of Asia’s largest insured man-made loss events, potential losses estimated at US$1.6 billion to US$3.3 billion: Guy Carpenter
September 4, 2015 by Canadian UnderwriterThe Port of Tianjin explosions in China are set to become one of Asia’s largest insured man-made loss events, with potential losses of between US$1.6 billion and US$3.3 billion, global risk and reinsurance specialist Guy Carpenter & Company, LLC said…