Canadian Underwriter

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errors and omissions

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Combined ratio down 4.6 points at Axis Capital

July 28, 2017 by Canadian Underwriter

Axis Capital Holdings Ltd. reported Wednesday a 4.6-point improvement in its Q2 combined ratio, from 102.2% in the second quarter of 2016 to 97.6% in the latest quarter. Pembroke, Bermuda-based Axis Capital writes both reinsurance and commercial primary insurance worldwide

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Combined ratio down 4.6 points for Everest Re

July 25, 2017 by Canadian Underwriter

Everest Re Group Ltd. reported Monday catastrophe losses, net of reinsurance, of $53.5 million in the three months ending June 30, with a 4.6-point improvement in its Q2 combined ratio to 90.5%. All figures are in United States dollars. Hamilton,

News ConstructionInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Trisura licensed to sell insurance in the U.S.

July 14, 2017 by Canadian Underwriter

Trisura Group Ltd., a surety and commercial specialty insurer that was spun off this year from Toronto-based Brookfield Asset Management Inc., plans to begin writing insurance in the United States. In a July 12 press release, Trisura said it “has

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 CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Canadian industry underwriting income down 81% in 2016: MSA

April 18, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released

News InsuranceLegislation / Regulation

Ontario home inspector licensing bill ready for royal assent

April 11, 2017 by Canadian Underwriter

Ontario politicians voted unanimously Monday in favour of a bill that will mandate licensing of home inspectors in the province and will let the government and consumer services minister regulate insurance requirements. Bill 59, an omnibus bill that also introduces

News InsuranceLegalMergers and Aqcuisitions

Beazley launches entertainment, media liability coverages in Canada

February 13, 2017 by Canadian Underwriter

United Kingdom-based specialist insurer Beazley plans to expand the range of products available through its newly acquired Canadian operations with Monday’s announcement that it will offer television and film producers errors and omissions (E&O) coverage, as well as media liability

News InsuranceMarkets / CoveragesTechnology

Quebec online gaming vendor facing class-action shareholders lawsuit must disclose liability insurance policies: Court

January 17, 2017 by Canadian Underwriter

A Pointe-Claire, Québec-based online gaming company, whose former chief executive officer is facing insider trading charges, has been ordered to provide its general liability, errors and omissions, and directors’ and officers’ liability insurance policies to shareholders who are suing the

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Chubb launches product to protect Canadian companies against privacy, intellectual property, financial injury and cyber risks

October 4, 2016 by Canadian Underwriter

Chubb announced on Tuesday that its Integrity+ product is now available in Canada to help protect companies from errors and omissions (E&O) liability customer lawsuits alleging that their products or services caused privacy violations, intellectual property infringements or other financial

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 InsuranceLegislation / RegulationMergers and AqcuisitionsProfessional Development

Ontario government to table home inspector licensing legislation

August 18, 2016 by Canadian Underwriter

Six months after a bill proposing to regulate home inspectors was tabled in the Ontario legislature, the provincial government said Wednesday it plans to “introduce legislation this fall that would, if passed, regulate the province’s home inspection industry.” Bill 165,

News InsuranceLegalMergers and AqcuisitionsTechnology

Allianz Global Corporate & Specialty launches cyber and professional liability coverage for North America

August 4, 2016 by Canadian Underwriter

Allianz Global Corporate & Specialty (AGCS) has announced the launch of a new cyber and professional liability coverage product designed exclusively for the North American market. Featuring a streamlined form structure with flexible terms, ACCEPT Protect is the “first of