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Corporate investigations on the rise, study suggests

May 24, 2016 by Canadian Underwriter

Corporate investigations are on the rise, with over a quarter (27%) of businesses saying they have experienced a claim or investigation involving a director of their company in the past year, up from one in five in 2014. That was

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Court finds Ontario municipality breached duty of care under Occupiers’ Liability Act in operation of mountain bike park

May 19, 2016 by Canadian Underwriter

An Ontario municipality is liable, under the province’s Occupiers’ Liability Act, for injuries that rendered a cyclist a quadriplegic after he fell while riding over a teeter-totter-type obstacle at a mountain bike park, the provincial appeal court has ruled. In

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Driverless cars could have significant credit impact across range of sectors, Moody’s report says

May 17, 2016 by Canadian Underwriter

Driverless cars could have significant credit implications across a wide range of sectors and companies as the technology becomes more advanced and widespread in the coming years, Moody’s Investors Service said in a report released on Tuesday. Although the extensive

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Premiums earned up 4%, catastrophe losses up 181% at Allstate

May 9, 2016 by Canadian Underwriter

First-quarter underwriting income dropped about 73% year-over-year for The Allstate Corp. in the wake of two large hailstorms in late March in the southern United States. The Northbrook, Ill.-based insurer reported May 4 that catastrophe losses were $827 million during

News InsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Uber gets green light from city council to operate legally in Toronto

May 4, 2016 The Canadian Press

TORONTO – Uber is voicing its thanks after Toronto city council gave the ride-hailing service the green light to operate legally in the city. In a message to those who use its app, Uber said Toronto Mayor John Tory and

News InsuranceMergers and AqcuisitionsTechnology

Autonomous vehicles will have “whole host of impacts” on municipalities: Insurance Telematics Canada speaker

May 3, 2016 Greg Meckbach, Associate Editor

Autonomous vehicles will “shrink” the auto insurance industry but could also increase liability risk for municipalities, speakers suggested at a recent conference in Toronto. “Over time, this is going to transform mobility and what cities look like,” said Stephen Buckley,

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Feds quietly paid $75M settlement for Lac Megantic victims and to avoid lawsuits

May 2, 2016 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The federal government quietly spent $75 million to settle with victims and creditors affected by the Lac-Megantic rail disaster – a contribution that also shielded it from lawsuits related to the deadly crash. Former transport minister Lisa Raitt

Mandip Hullait, Director, Commercial Auto, RSA Canada
Feature Insurance

Adding Risk

May 1, 2016 Mandip Hullait, Director, Commercial Auto, RSA Canada

Modifications to commercial vehicles, especially involving the transportation of hazardous substances, can affect both safety and insurance coverage. When vehicles are carrying cargo such as fuel, fleet managers need to consider the risk of long-tail liability in the event of

News Insurance

Combined ratio up 7.9 points at Allied World

April 21, 2016 by Canadian Underwriter

Allied World Assurance Company Holdings AG reported Tuesday its combined ratio deteriorated 7.9 points, from 88.1% during the first quarter of 2015 to 96% in the three months ending March 31, while net premiums written dropped 8.9%. Zug, Switzerland-based Allied

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Supreme Court of Canada will not hear appeal of disputed $15-million D&O liability claim from Onex

April 18, 2016 by Canadian Underwriter

For the second time in 18 months, the Supreme Court of Canada has declined to hear an appeal of a verdict of an Ontario lawsuit arising from a disputed US$15-million directors’ and officers’ liability claim arising from an unjust enrichment

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U.S. D&O insurance pricing pressure to dampen performance: Fitch

April 13, 2016 by Canadian Underwriter

Market conditions are evolving in the directors’ and officers’ (D&O) liability insurance market in the United States, with merger and acquisition activity in 2015 facilitating greater market concentration, according to a new report from Fitch Ratings. The report, titled U.S.

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ISO to collect cyber insurance data to help mitigate risk related to cyberattacks

April 6, 2016 by Canadian Underwriter

ISO, a Verisk Analytics business, announced on Wednesday that it will collect, aggregate and analyze cyber insurance data to help address a major issue facing today’s cyber insurance market: the need for more detailed underwriting and rating information. ISO said