Keyword
energy
Risk management overhaul necessary for cities to become more resilient to catastrophic events: report
March 27, 2017 by Canadian UnderwriterOfficials for cities, investors and insurers will increasingly need to “build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty,” argues a new report from Lloyd’s and Arup. “While risk management remains a…
Q4 combined ratio up 14.9 points at Aspen
February 9, 2017 by Canadian UnderwriterWildfires in Tennessee, an earthquake in New Zealand, Hurricane Matthew and energy-related losses all contributed to a 20.2-point deterioration in the fourth-quarter loss ratio in reinsurance for Aspen Insurance Holdings Ltd., while in primary insurance, Aspen reported a combined ratio…
Weather risk accounts for an estimated US$56 billion in untapped wind energy asset values globally: GCube
January 31, 2017 by Canadian UnderwriterResource underperformance has surpassed mechanical breakdown and component damage as the major obstacle to achieving bankable wind energy projects, GCube Underwriting Ltd. notes in a report estimating the untapped asset values of wind energy stakeholders around the world at US$56…
Canada’s energy, utilities sectors should beef up climate change competency: report
January 13, 2017 by Canadian UnderwriterCompanies in Canada’s most carbon-intensive sectors are not demonstrating “climate competency” in the boardroom and should be doing so to address climate change issues, suggests a report this week by Shareholder Association for Research & Education (SHARE). “Investors are increasingly…
Canadian pipeline applications to require more emergency response information
January 12, 2017 by Canadian UnderwriterThe National Energy Board (NEB), an independent federal regulator of several parts of Canada’s energy industry, announced on Wednesday that it will require companies to provide additional emergency response detail during the pipeline application phase of a project. NEB said…
Alberta carbon plan to shrink GDP, but province expects long term growth
November 1, 2016 Dean Bennett - THE CANADIAN PRESSEDMONTON – Alberta released estimates Monday showing its climate change plan will shrink the economy in the short term, but Environment Minister Shannon Phillips said the figures are a work in progress. The province estimates the economic impact of the…
Aspen Insurance reports a combined ratio of 93.8% for the third quarter of 2016
October 27, 2016 by Canadian UnderwriterHamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a combined ratio of 93.8% for the third quarter of 2016, up slightly from 93.4% in the third quarter of 2015. Aspen Insurance released its financial results on Wednesday, reporting a net…
Energi of Canada launches p&c programs for energy in parts of Western, Atlantic Canada
June 13, 2016 by Canadian UnderwriterCompanies in parts of Western and Atlantic Canada that exhibit a commitment to loss prevention and implementing best practices will have access to new property and casualty programs for energy business from Energi of Canada Ltd. Already available in Ontario,…
Fed keeps key rate unchanged; no hint on timing of next hike
April 27, 2016 Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON – The Federal Reserve kept a key interest rate unchanged Wednesday against the backdrop of a slowdown in U.S. and global growth and provided no hint of when its next rate hike may occur. In a statement after its…
U.S. energy sector sees dramatic rise in successful cyberattacks: study
April 7, 2016 by Canadian UnderwriterTripwire, Inc., a Portland, Oregon-based provider of endpoint detection and response, security, compliance and IT operations solutions for enterprises, service providers and government agencies, has found that more than three-quarters of survey respondents in the energy sector in the United…
Bleak outlook for energy insurers could lead to withdrawals from the market: Willis Towers Watson
April 5, 2016 by Canadian UnderwriterAn oversupply of capital and falling demand from buyers, caused by cost-cutting in the wake of the oil price crash, is heaping pressure on insurers to the extent that they may eventually consider exiting the energy insurance market, or at…