Canadian Underwriter

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Directors and Officers


News Earnings / RatingsInsuranceMergers and Aqcuisitions

Commercial insurance prices in the U.S. increased by less than 1% for sixth straight quarter: Willis Towers Watson

June 12, 2017 by Canadian Underwriter

Commercial insurance prices in the United States were nearly flat during the first quarter of 2017, according to the last Commercial Lines Insurance Pricing Survey (CLIPS) from Willis Towers Watson (WTW). The survey, released on Monday, compared prices charged on

News InsuranceMergers and AqcuisitionsReinsurance

Allied World board members concerned in 2016 with ‘protracted negotiations’ with un-named prospective buyer: SEC filing

May 23, 2017 by Canadian Underwriter

Six months before announcing its proposed acquisition by Toronto-based Fairfax Financial Holdings Ltd., commercial insurer Allied World Assurance Company Holdings AG received an offer letter from an un-named prospective buyer for $48 a share, recently-released documents indicate. Fairfax and Zug,

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Global cyber attacks expected to up demand for related insurance, U.S. market could grow 10-fold: Fitch Ratings

May 16, 2017 by Canadian Underwriter

Fitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Combined ratio up 3.1 points for Allied World

May 1, 2017 by Canadian Underwriter

Allied World Assurance Company Holdings AG, which is expected to have a new Canadian corporate parent, recently reported a 3.1-point deterioration, year over year, in its first-quarter combined ratio, nearly a month after Cyclone Debbie hit the north shore of

News InsuranceMarkets / CoveragesTechnology

Silent cyber a big issue, most companies with insurance book have exposure: AIR Worldwide’s Stransky

April 25, 2017 Angela Stelmakowich

PHILADELPHIA – Silence is decidedly not golden when it comes to cyber risk, Scott Stransky, assistant vice president and principal scientist for AIR Worldwide, suggested to Canadian Underwriter in advance of the RIMS 2017 Annual Conference & Exhibition. Silent cyber

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

New York cyber rules could raise loss exposures for U.S. insurers: Fitch

February 15, 2017 by Canadian Underwriter

The implementation of the New York Department of Financial Services’ (NYDFS) new cybersecurity regulations has the potential to underscore premium growth in cybersecurity insurance and directors and officers (D&O) insurance, but could also raise loss potential for insurers, Fitch Ratings

Feature LegalMergers and Aqcuisitions

Personal Liability

January 1, 2017 Christopher Mutcheson, Head of Directors and Officers and Financial Institutions, Financial Lines Canada, Allianz Global Corporate & Specialty

As insurers carve back language excluding pollution clean-up in directors’ and officers’ (D&O) liability policies and regulators impose administrative monetary penalties on corporate directors, D&O programs may be hit with new claims in 2017.

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsTechnology

Growing trend toward seeking punitive, personal legal action against corporate leaders: AGCS

November 28, 2016 by Canadian Underwriter

New and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing

News InsuranceLegislation / RegulationMarkets / Coverages

Chubb releases new suite of liability coverages for family offices in Canada

November 8, 2016 by Canadian Underwriter

Chubb announced on Tuesday that it has released a new suite of insurance coverages to help family offices face liability exposures. “Family Office Amplifier is a flexible package of coverages that includes specialized terms and conditions that reflect today’s evolving

News InsuranceProfessional Development

Insurance Institute of Canada launches new catalogue of online courses called CE OnDemand

September 15, 2016 by Canadian Underwriter

The Insurance Institute of Canada (IIC) announced on Thursday that it has launched CE OnDemand, a new catalogue of online courses based on a survey of brokers’ continuing education needs. The IIC said in a press release that CE OnDemand

News InsuranceLegal

Court of Appeal for Ontario clears way for misrepresentation lawsuit against directors and officers arising from take-over bid circulars

August 23, 2016 by Canadian Underwriter

Shareholders alleging that an offeror made a misrepresentation in a take-over bid circular can – in Ontario – sue both the offeror and the offeror’s directors and signatories personally, rather than having to choose to sue one or the other,

News InsuranceLegalMergers and AqcuisitionsTechnology

Pen Underwriting Canada’s e-traded D&O solution offers brokers fast quote-to-cover capability

July 22, 2016 by Canadian Underwriter

Pen Underwriting Canada’s newly launched e-trading platform allows brokers to quote and issue a policy within five minutes that provides directors and officers a broad range of D&O coverage to suit the fast-evolving risks and liabilities they face. Calling the