Canadian Underwriter

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liability


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Commercial premiums down 15% for AIG

August 3, 2017 by Canadian Underwriter

American International Group Inc. reported Wednesday its net income was $1.13 billion during the three months ending June 30 and its Q2 combined ratio in personal insurance improved 5.9 points from last year, but the combined ratio in commercial insurance

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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

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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,

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Allstate estimates June catastrophe losses at US$335 million

July 24, 2017 by Canadian Underwriter

The Allstate Corp. announced July 20 it estimates its catastrophe losses for the three months ending June 30 will be $993 million, pre-tax, of which $310 million is from 17 events in June alone. Northbrook, Ill.-based Allstate reported in August,

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Chubb’s multi-line practice to focus on large transportation clients in U.S. and Canada, help address wide range of risks

July 20, 2017 by Canadian Underwriter

Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts

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Beazley launches environmental coverage in Canada

July 19, 2017 by Canadian Underwriter

Beazley has launched its local environmental coverage in Canada with a product suite tailored to the specific market. The suite includes the ECLIPSE (fixed site) form, the ENVIRO (contractors’ pollution legal liability) form and the BeazleyOne (combined) form. Limits are

Feature LegalMergers and Aqcuisitions

Contract of Carriage

July 4, 2017 Shubham Gupta, Loss Adjuster, Charles Taylor Adjusting

A bill of lading is the first document that everyone looks for whenever there is any cargo claim. That said, insurers are advised not to rely solely on such documents. Appropriate investigation of all aspects discussed by the various contracting parties, whether written or oral, is also critically important.

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Courts can award damages for mental injury without psychiatric diagnosis: Supreme Court of Canada

June 14, 2017 by Canadian Underwriter

The Supreme Court of Canada has rejected an argument by Insurance Bureau of Canada that a court should not award damages for psychological or emotional damage unless the plaintiff demonstrates the tort caused a “recognizable psychiatric illness.” In a recent

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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 CatastrophesInsuranceMergers and AqcuisitionsTechnology

Use of captives for cyber liability programs increases 20% in 2016: Marsh report

June 7, 2017 by Canadian Underwriter

The number of owners using captives for cyber liability programs – up almost 20% last year – represented the fastest growing non-traditional risk in captives managed by Marsh Captive Solutions, the company notes in a new report this week. Fuelled

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How legalizing pot will affect your insurance policies

June 5, 2017 Jason Contant, Online Editor

The impending legalization of marijuana in Canada raises a number of legal issues related to property insurance policies, Michael Teitelbaum, a partner with Hughes Amys LLP, said last week at ARC Group Canada’s 2017 annual seminar and cocktail event. In

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Amendment to Ontario’s Forest Fires Prevention Act takes aim at railway liability

May 26, 2017 by Canadian Underwriter

A recent amendment to Ontario’s Forest Fires Prevention Act now stipulates that railway corporations are liable for damages related to fires originating within 15 metres of the centre line of their tracks, while members of the Ontario Securities Commission are