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Maintaining wetlands could slash riverine flooding-related damage, local pilot project has national applicability: study

July 12, 2017 by Angela Stelmakowich

Just leaving current wetlands in their natural state could cause riverine flooding-related flood damage to plummet as much as 38% and should provide the impetus for communities to view natural infrastructure as a climate adaptation solution, notes a study from

News CatastrophesConstructionEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsProductsReinsuranceTechnology

Stilling quake risk in eastern Canada demands greater focus, awareness and effort: Swiss Re

July 11, 2017 by Angela Stelmakowich

Risk awareness is severely lacking and not enough attention is being paid to quake risk in eastern Canada, a region with “huge” loss-inflicting potential that a Swiss Re model projects could produce the country’s largest nat-Cat loss ever if the

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Cyclones Debbie, Cook in New Zealand combine to produce insured losses of NZ$84 million so far

June 19, 2017 by Canadian Underwriter

The two cyclones that pounded New Zealand in April have spurred insured costs of NZ$84 million to date, setting the stage for what could become one of the most damaging year in recent years and leading to wrong-headed government actions

News InsuranceMergers and AqcuisitionsTechnology

More drone activity anticipated, safety-first approach essential: SCOR newsletter

June 9, 2017 by Canadian Underwriter

An agile and flexible response by all parties is needed in light of the new and little-understood risks expected to emerge with the anticipated increase in drone activity over the next few years, SCOR experts write in a recent technical

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

XL Catlin extends global property insurance capacity

June 8, 2017 by Canadian Underwriter

Increasing property values and concern over natural catastrophe exposures in the United States and Canada were among the factors mentioned in XL Catlin’s announcement Wednesday it had extended global property insurance capacity by 25% to US$500 million. XL Catlin reports

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsTechnology

Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey

June 6, 2017 by Canadian Underwriter

Greater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

PERILS discloses second loss estimate of 259 million euros for extratropical cyclone Zeus

June 6, 2017 by Canadian Underwriter

PERILS AG has disclosed a second loss estimate for extratropical cyclone Zeus of 269 million euros. The revised estimate, released on Tuesday, is for the property insurance market loss, said PERILS, an independent organization based in Zurich, Switzerland that provides

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Intact Insurance launches my Driving Discount program in Alberta

June 5, 2017 by Canadian Underwriter

Good drivers in Alberta will now have access to an Intact Insurance driving discount program that allows them to save as much as 25% on their auto insurance premiums. The my Driving Discount program uses driving data collected by a

News InsuranceMergers and AqcuisitionsTechnology

Cyber insurance policies expected to become more similar in next few years: CIFF speaker

May 26, 2017 by Angela Stelmakowich

A lot more convergence in cyber insurance policies is expected within the next few years as policies, exclusions and wording get tested and case law develops, John Elbl suggested Wednesday during a panel discussion at MSA Research Inc.’s Canadian Insurance

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

Technology advances to change insurance value chain, offers chance to reboot

May 19, 2017 by Angela Stelmakowich

Technology advances will likely affect – perhaps even eliminate – some current roles in the insurance value chain, but should be regarded as an opportunity to focus more on value-added services and getting a seat at the table where new

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

PERILS estimates property market loss for Cyclone Debbie at AU$1,116 million

May 9, 2017 by Canadian Underwriter

Tropical Cyclone Debbie – the initial loss estimate for which PERILS AG puts at AU$1,116 million – “underpins the need for reliable natural catastrophe insurance data for Australia,” suggests Darryl Pidcock, head of PERILS Asia-Pacific. Debbie affected the Australian states

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsTechnology

Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter

May 8, 2017 by Canadian Underwriter

Auto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was