Canadian Underwriter

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property

News Insurance

How bad the industry’s loss has been in 2019 so far

September 13, 2019 by Greg Meckbach

The Canadian property and casualty industry lost money on underwriting during the first six months of 2019 – a performance worse than 2016, when Fort McMurray was devastated by wildfire, A.M. Best Company Inc. reported Friday. “2019 could be another

News BrokersInsurance

Broker fined for failing to review with his client a $1.4-million coverage change

March 14, 2019 by David Gambrill

A Manitoba broker is out of pocket $1,000 for failing to review with his client a $1.4-million change to a client’s commercial property insurance policy. On Dec. 12, 2011, an insurer requested renewal instructions from Manitoba broker Horace Smaczylo, as

News BrokersClaimsInsurance

Tips for brokers on insuring high-value homes

July 12, 2018 by David Gambrill

High-value homes are good for business, knowing how to rate them properly is a must. Brokers need to be aware that high-value, custom-built homes or renovations should not be put on Standard Build when determining insurance to value, a broker

News ClaimsInsuranceMarkets / Coverages

Is the sun setting on auto insurance in Canada?

June 20, 2018 by David Gambrill

Is the sun setting on auto insurance as a dominant line of business in Canada? Property lines premium is catching up to auto insurance premiums, causing many to predict that auto insurance will recede in the rearview mirror over the

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3

November 6, 2017 by Canadian Underwriter

The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of

News AnnouncementsInsuranceTechnology

JLT Canada, Certisync look to overhaul tenant insurance processes, maximize portfolio insurance strategies.

October 25, 2017 by Canadian Underwriter

Jardine Lloyd Thompson Canada Inc. and Certisync International have teamed up as part of a joint venture to help property managers and administrators in Canada and revolutionize how the industry regulates tenant insurance processes. Aimed at giving property managers greater

News CatastrophesClaimsInsurance

Insured property loss estimate for Tropical Cyclone Debbie in Australia up to AU$1.7 billion: PERILS

September 28, 2017 by Canadian Underwriter

PERILS AG has upped its estimate of the property insurance market loss for Tropical Cyclone Debbie, which affected the Australian states of Queensland and New South Wales this spring, to just shy of AU$1.7 billion. The Zurich-based organization’s third loss

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Insured losses from Harvey’s wind, storm surge as much as US$2.3 billion: AIR Worldwide

August 29, 2017 by Canadian Underwriter

Harvey-related winds and storm surge in Texas are expected to produce industry insured losses amounting to between US$1.2 billion and US$2.3 billion, AIR Worldwide reported Monday afternoon as flooding in southeastern Texas continued to strand residents and wreak havoc. Included

News AssociationsCatastrophesInsuranceMergers and AqcuisitionsTechnology

Harvey creating life-threatening flooding in southeastern Texas, early damage estimate up to US$2 billion

August 28, 2017 by Canadian Underwriter

Catastrophic and life-threatening flooding persisted over parts of southeastern Texas as of early Monday morning despite Harvey being downgraded from an anticipated Category 3 hurricane to a tropical storm. “Do not attempt to travel in the affected areas if you

News Insurance

AGCS expands terrorism, political violence insurance offering in the U.S.

August 24, 2017 by Canadian Underwriter

Allianz Global Corporate & Specialty (AGCS) is now providing bespoke coverage designed to protect U.S. businesses faced with loss related to terrorism and political violence both at home and overseas. Given the recent tragic events in Europe and Virginia, the

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

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 Climate ChangeInsurance

Some seasonal small businesses have no insurance coverage heading into summer

July 27, 2017 by Canadian Underwriter

Seasonal businesses need the same risk coverage as year-round operations and busy small business owners should ensure they are appropriately protected as the summer season kicks into high gear, advises TruShield Insurance. Pointing out that small business owners are starved