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Feature Mergers and Aqcuisitions

Severe Burns

January 1, 2017 Greg Meckbach, Associate Editor

Water losses may be high on the list of claims professionals’ concerns, but disasters in Tianjin, China, Oakland, California and Fort McMurray, Alberta serve as poignant reminders that fire is still a major cause of insured loss for commercial properties. Risk mitigation measures – such as sprinkler systems – can help reduce frequency and severity. But some insurance professionals point out that the use of plastics in manufacturing, expensive equipment and a lack of alternate facilities can exacerbate the severity of an industrial fire.

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Burns Demeyere & Associates to join McFarlan Rowlands Insurance Brokers in 2017

November 29, 2016 by Canadian Underwriter

Burns Demeyere & Associates (BDA), a Tillsonburg, Ont.-based brokerage with a history dating back about 125 years, will join McFarlan Rowlands Insurance Brokers at the beginning of 2017. McFarlan Rowlands – which also has established roots in its community and

News CatastrophesInsuranceMergers and Aqcuisitions

Insured losses of New Zealand quake could be as much as US$3.5 billion: AIR Worldwide

November 18, 2016 by Canadian Underwriter

The largest earthquake to hit New Zealand since 2009, registering magnitude 7.8, could contribute to insured losses amounting to US$762 million to US$3.5 billion, catastrophe modelling firm AIR Worldwide reported Thursday. The modelled estimates include insured physical damage to property

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Zurich Insurance announces plans to position itself for future, new profitability targets

November 17, 2016 by Canadian Underwriter

Zurich Insurance Group plans to build on customer relationships, simplify the business and significantly reduce costs as part of its renewed focus on increasing business profitability and delivering high-quality earnings over the 2017-2019 period, the global insurer announced Thursday. “In

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New Zealand insurers settle NZ$19 billion Canterbury claims

November 2, 2016 by Canadian Underwriter

Private insurers in New Zealand have paid out almost NZ$19 billion to settle commercial and residential claims since the Canterbury earthquakes in 2010 and 2011, the Insurance Council of New Zealand (ICNZ) announced Tuesday. Of that total, almost NZ$9 billion

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CNA Financial posts net income of US$343 million in 2016 Q3

November 1, 2016 by Canadian Underwriter

CNA Financial Corporation saw net income jump US$165 million to US$343 million in 2016 Q3 over the prior-year quarter, driven by the performance of its Property & Casualty Operations, higher net investment income and stable catastrophe losses. Net income for

News AssociationsCatastrophesClimate ChangeConstructionInsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

Barely passable grade on flood preparedness demands immediate action: report

October 31, 2016 by Canadian Underwriter

All 10 Canadian provinces and Yukon are not making the grade when it comes to flood preparedness, signalling the need for change, including not allowing municipalities to override provincial or territorial direction on development in flood-prone areas, argues a new

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Mixed North American commercial insurance market still favours buyers: Willis Towers Watson report

October 26, 2016 by Canadian Underwriter

The marketplace for property, casualty and other lines of commercial insurance will continue to favour insurance buyers in 2017, particularly those with comprehensive strategic risk management and risk transfer strategies, global advisory, broking and solutions company Willis Towers Watson (WTW)

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Archway Insurance purchases H.S. Terris Insurance

October 24, 2016 by Canadian Underwriter

Archway Insurance has enhanced its commitment to Nova Scotia’s Cumberland County, where its head office is located, with the purchase of Springhill-based H.S. Terris Insurance. Effective Nov. 1, Amherst, N.S.-based brokerage announced Monday, the acquisition will build on its presence

News CatastrophesClimate ChangeConstructionEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Estimated insured losses for U.S., Caribbean from Hurricane Matthew US$2.5 billion to US$8 billion: RMS

October 21, 2016 by Canadian Underwriter

RMS has estimated Hurricane Matthew will produce insured losses of US$1.5 billion to US$5 billion for the United States and US$1 billion to US$3 billion in the Caribbean, making it the reinsurance industry’s costliest Atlantic hurricane since Sandy four years

News CatastrophesClimate ChangeConstructionEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Estimated insured losses from Hurricane Matthew for U.S., Caribbean between US$2.8 billion and US$8.8 billion: AIR

October 13, 2016 by Canadian Underwriter

Modelled insured losses from Hurricane Matthew could range from US$2.2 billion to US$6.8 billion for the United States and US$600 million to US$2.0 billion for the Caribbean, notes an estimate issued Thursday by AIR Worldwide. Hurricane Matthew affected the Caribbean

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Growth in commercial unmanned aircraft systems, UAS, to bring both benefits, new risks: Allianz

September 13, 2016 by Angela Stelmakowich

The use of unmanned aircraft systems (UAS) is set to soar south of the border — expected to triple the number of manned aircraft by year’s end — producing new risks that will require insurers to adopt a new view,