Keyword
Commercial Risk Management
Uber says it will shut down Tuesday unless province agrees to changes
February 29, 2016 The Canadian PressEDMONTON – The manager for Uber in Alberta says the ride-sharing app will cease operating in the province on Tuesday unless the provincial government makes insurance and licensing changes. Ramit Kar told a demonstration of about 150 Uber supporters on…
Berkshire Hathaway insurance-underwriting earnings up to $306 million in Q4 2015 from $191 million in Q4 2014
February 29, 2016 by Canadian UnderwriterBerkshire Hathaway has reported insurance-underwriting earnings of US$306 million for the fourth quarter of 2015 ending Dec. 31, 2015, up from US$191 million in the same quarter in 2014. However, for the full-year 2015, earnings were US$1.162 billion, down from…
RSA Canada reports underwriting profit of $225 million for 2015, combined operating ratio of 91.7%
February 29, 2016 by Canadian UnderwriterHome, car and business insurer RSA Canada has reported a record underwriting profit of $225 million for 2015 and a combined operating ratio of 91.7%, well below its annual target for 2015. In 2014, the combined operating ratio was 98.6%.…
Companies must adopt fuller view of risk, understand the expected can combine to produce surprises: Marsh
February 29, 2016 by Canadian UnderwriterBoards and executive teams must develop a much stronger context for risks that may seem to be safely over the horizon if they are to avoid being blindsided by unwelcome surprises, notes a new paper from Marsh & McLennan Companies’…
Weather Service: Virginia tornado had winds of up to 165 mph
February 26, 2016 Larry O'Dell and Steve Szkotak - THE ASSOCIATED PRESSWAVERLY, Va. – Tornadoes tore through towns as far north as Pennsylvania, heavy snow cancelled hundreds of flights in the Midwest and power outages left tens of thousands of residents from the Carolinas to New England in the dark as…
Highest crop insurance coverage in program history offered to Saskatchewan producers in 2016
February 26, 2016 by Canadian UnderwriterCrop producers in Saskatchewan will have access to the highest coverage in program history, the federal Agriculture and Agri-Food Minister Lawrence MacAulay and Saskatchewan Agriculture Minister Lyle Stewart said on Thursday. The ministers announced the details of the 2016 Crop…
Province of Alberta announces $25 million in grants to local governments for flood mitigation projects
February 26, 2016 by Canadian UnderwriterThe province of Alberta has announced nearly $25 million in grants to local governments for several flood mitigation projects that will “protect families, businesses and Alberta’s economy from the threat of natural disasters.” The grants, announced in Calgary on Friday,…
XL Catlin doubles standalone terrorism limits in U.S.
February 26, 2016 by Canadian UnderwriterXL Catlin’s crisis management business has doubled available liability limits in the United States for standalone terrorism insurance coverage to US$200 million and unveiled specialized active assailant coverage as an answer to increased terrorism and active assailant threats. The options…
Multi-layered approach key to tackling cyber risks: Willis Towers Watson
February 26, 2016 by Canadian UnderwriterTaking a multi-dimensional approach as opposed to relying on a sub-set of actions is needed to tackle the growing cyber security risk, Dominic Casserley, president and deputy chief executive officer of Willis Towers Watson, suggested in a recent speech at…
RSA Group reports combined ratio of 91.7% in Canada for 2015
February 25, 2016 by Canadian UnderwriterRSA Group has reported a record underwriting profit in Canada for 2015, with a combined ratio of 91.7% for the year, compared to 98.6% in 2014. The core Group combined ratio was 96%, an improvement from 98.8% in 2014. RSA…
YIPT hosts careers in insurance event at Ryerson University in Toronto
February 25, 2016 by Canadian UnderwriterThe Young Insurance Professionals of Toronto (YIPT) has hosted an insurance careers open house and networking event for students of Ryerson University in Toronto. Held on Monday, the event was inspired by the Insurance Careers Month initiative, which “had the…
BB&T Corporation to acquire Swett & Crawford for US$500 million
February 25, 2016 by Canadian UnderwriterBB&T Corporation has reached an agreement to acquire CGSC North America Holdings Corporation (Swett & Crawford) from Cooper Gay Swett & Crawford (CGSC) for US$500 million in cash, a move expected to provide BB&T’s wholesale insurance business with scale and…