Canadian Underwriter

Keyword
property insurance


News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Vehicle and equipment dealerships in Alberta authorized to sell gap insurance

June 12, 2017 by Canadian Underwriter

The Alberta Insurance Council (AIC) has announced that its General Insurance Council (GIC) has approved the issuance of a restricted certificate of authority authorizing both vehicle and equipment dealerships to sell gap insurance. Gap insurance is property insurance that covers

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

XL Catlin extends global property insurance capacity

June 8, 2017 by Canadian Underwriter

Increasing property values and concern over natural catastrophe exposures in the United States and Canada were among the factors mentioned in XL Catlin’s announcement Wednesday it had extended global property insurance capacity by 25% to US$500 million. XL Catlin reports

News InsuranceLegalLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

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

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

Ottawa plans to eliminate tax exemption for farm property insurers, amend anti-money laundering laws

March 23, 2017 by Canadian Underwriter

The federal government said Wednesday it is proposing to eliminate a tax exemption introduced in 1954 for insurance carriers providing property insurance for farming and fishing properties. In its budget document, the ruling Liberals suggested they want to give the

News InsuranceMergers and Aqcuisitions

Partnership creates “Canada’s largest Indigenous-owned insurance agency”

March 6, 2017 by Canadian Underwriter

TIPI Insurance Partners and IMI Brokerage Company have announced a partnership to create “Canada’s largest Indigenous-owned insurance agency,” providing property insurance, pension plans and group benefits designed exclusively for Indigenous people. Announced late last week, the partnership roughly doubles TIPI’s

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

AIG, National Indemnity ink reinsurance agreement covering long-tail prior-year commercial casualty

January 20, 2017 by Canadian Underwriter

American International Group Inc. said Friday it “expects a material prior year adverse development charge” during the three months ending Dec. 31, 2016 and that National Indemnity Company (NICO) has agreed to reinsure 80% of losses on certain reserves for

News Earnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

Europe’s insurers paid out 2.7 billion euros a day in 2015: Insurance Europe

December 20, 2016 by Canadian Underwriter

Europe’s insurers paid out a total of 975 billion euros in claims and benefits over the course of 2015, the equivalent of about 2.7 billion euros per day, according to figures released on Tuesday by Insurance Europe, the European insurance

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

ICLR to host workshop on sea level rise on Sept. 9

August 30, 2016 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) will be hosting a workshop on sea level rise on Sept. 9. Titled Rising Sea Level is Not a Flooding Event, the workshop will be held between 10 a.m. and 11:30 a.m. EST

News InsuranceMergers and AqcuisitionsTechnology

Frank Cowan introduces drone endorsements for liability and property policies

August 28, 2016 by Canadian Underwriter

Frank Cowan Company announced on Friday that its liability and property policies can now be enhanced with endorsements to cover drones. The Princeton, Ont.-based managing general agent said in a statement that the drone/unmanned aerial vehicle (UAV) coverage “is intended

Feature Climate ChangeInsurance

Challenging Climate

August 1, 2016 Thomas Coleman, Chief Research Officer; and Alex LaPlante, Research Associate, Global Risk Institute

The world’s insurance industry is inherently susceptible to climate change-related risks. However, being so deeply integrated in society means insurers are well-positioned to promote global resilience to climate change through implementing related risk management and mitigation processes, as well as through continued international collaboration.

Feature Claims CanadaInsurance

The Over/Under on Property Insurance

July 15, 2016 Timothy Zimmerman and Ari Singer

The importance of determining the value of a commercial property when applying for insurance

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Sizable U.S. property insurance price hike only expected in wake of a record hurricane year: Fitch

June 2, 2016 by Canadian Underwriter

Hurricane losses in the United States equal to at least 15% of industry aggregate surplus in 2016 would likely promote a shift toward positive pricing movement, although any upward movement would be dampened by existing underwriting capacity for primary and