Keyword
liability
“New normal” may be emerging in global energy insurance markets: Willis Towers Watson
April 12, 2017 by Canadian UnderwriterThe energy sector is still beset by some significant challenges, including low oil prices, but there may also be a “new normal” emerging in the global energy insurance market, according to global advisory, broking and solutions company Willis Towers Watson…
Hospital-based examination centres should provide Ontario auto accident treatment plans: Marshall
April 12, 2017 by Canadian UnderwriterOntario should not move to a government-run auto insurance system but the province should establish hospital-based examination centres with authority to establish treatment plans that would have to be provided by the insurers, without dispute, a special advisor to the…
Aerial Manoeuvres
April 1, 2017 Jeffrey McCann, Vice President, Digital Strategy, Shaw Sabey & AssociatesBrokers will play a critical role as trusted risk management advisors in the rapidly expanding drone industry. Brokers need to inform their customers that as soon as the rotors are turning, a standard general liability policy no longer responds, and either an aviation policy or an endorsement is required.
Larger liability claims expected to become more expensive, complex: AGCS
March 30, 2017 by Canadian UnderwriterThere is increasing potential for “larger liability claims to become more expensive, complex and international, demonstrating the pervasive and long-term nature of liability losses,” suggests a new global claims review released Thursday by Allianz Global Corporate & Specialty (AGCS). Industrial,…
Data-driven methodology allows (re)insurers to identify liability risk exposure across entire portfolios
March 16, 2017 by Canadian UnderwriterLloyd’s reports that a partnership with modelling company Arium has produced a data-driven methodology that will allow (re)insurers to model liability risk exposure probabilistically across entire portfolios. The approach – the result of a three-year project between Lloyd’s and Arium…
‘Demand remains strong’ for high film production insurance limits in Canada: Chubb
March 15, 2017 by Canadian UnderwriterFalls from heights and the use of expensive antiques on sets are among the risks that film production firms should keep in mind when working in foreign locations, Chubb Ltd. said in a report released Tuesday. “When producers choose a…
Use of technology could help to enhance compliance efforts: KPMG LLP report
March 14, 2017 by Canadian UnderwriterThe majority of chief compliance officers (CCO) in the United States taking part in a KPMG LLP survey are struggling to integrate and automate compliance activities across their organizations. Six in 10 polled CCOs report “their company’s technology infrastructure has…
Do repair centres owe a duty of care to car thieves?
March 10, 2017 by Canadian UnderwriterThe Supreme Court of Canada recently announced it will hear an appeal from an auto repair centre that was successfully sued by a person who participated in the theft of a customer’s car from that repair centre and was injured…
Ironshore Specialty Casualty construction cover now addresses M&A transition exposures
March 10, 2017 by Canadian UnderwriterBermuda-based Ironshore Specialty Casualty has enhanced its Transition Protection policy form to address contractual exposures associated with an organizational merger or acquisition (M&A) specific to the construction industry. Construction companies typically have contractual requirements to obtain insurance coverage for work…
Incumbent insurers should rethink businesses, embrace opportunity in digital technology: McKinsey & Company
March 9, 2017 by Canadian UnderwriterThe insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying…
Driverless cars to “revolutionize” motor insurance as liability shifts towards manufacturers: Fitch
March 8, 2017 by Canadian UnderwriterWidespread adoption of autonomous vehicles will completely transform the motor insurance sector in the long-term as liability shifts towards manufacturers and the traditional risk pool shrinks, Fitch Ratings said in a new report on Wednesday. Simply put, insurers will be…
Global market for autonomous, assistive safety and comfort vehicle features up to US$26 billion annually by 2025: Bain & Company
March 7, 2017 by Canadian UnderwriterAutonomous vehicles are revving up, with Bain & Company Inc. forecasting annual growth of 12% to 14% for the global market of autonomous and assistive safety and comfort features by 2025. That translates to a global B2B market of US$22…