Keyword
risk management
AGCS expands terrorism, political violence insurance offering in the U.S.
August 24, 2017 by Canadian UnderwriterAllianz 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…
York University launches new online Certificate in Risk Management course
August 23, 2017 by Canadian UnderwriterYork University’s School of Continuing Studies said on Tuesday that it is responding to the “demand for comprehensive risk management training” by launching a new online Certificate in Risk Management course. The three-course online program (Risk Management Principles and Practices;…
Ironshore establishes computer emergency response team to help policyholders with cyber response
August 22, 2017 by Canadian UnderwriterNew York-based Ironshore Inc. is taking steps to help manage cyber claims for all in-force policies, regardless of line, with the launch of a dedicated computer response team. Comprised of cyber claims co-ordinators representing each of the insurer’s specialty lines…
Tug vessels that collided had no formal safety management systems: TSB
August 21, 2017 by Canadian UnderwriterA May, 2016 collision between two logging tugs near Nanaimo, British Columbia demonstrates that some marine firms are “not effectively managing their safety risks,” the Transportation Safety Board of Canada said in a report released Thursday. On May 24, 2016,…
Expected insured losses from present-day Hurricane Andrew would total US$56 billion: AIR Worldwide
August 21, 2017 by Canadian UnderwriterIf Hurricane Andrew were to occur today, 25 years after its original landfall, the expected total industry insured losses (based on today’s exposures) would be approximately US$56 billion in the United States, catastrophe risk modelling firm AIR Worldwide reported on…
Big increase in U.K. start-ups, but insurance coverage lacking for many small businesses
August 18, 2017 by Canadian UnderwriterA new survey out of the U.K. shows that self-employment is racing forward, but moves by small businesses to ensure they have insurance in place to address whatever risks may arise is lagging far behind. A wider spectrum of small…
Proposed model law could beef up U.S. insurers’ cyber risk management
August 17, 2017 by Canadian UnderwriterNew cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has…
Australian insurers welcome Senate committee call for government to rethink funding for natural disaster mitigation
August 14, 2017 by Canadian UnderwriterInsurance Council of Australia (ICA) has welcomed a report by the Senate Economics References Committee supporting the council’s call for the federal government to invest in natural disaster mitigation and resilience, as well as back risk-based pricing. This spring, ICA…
Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR
August 9, 2017 by Canadian UnderwriterIn a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk…
Arthur J. Gallagher gains presence in Quebec with acquisition of GPL Assurance Inc.
August 4, 2017 by Canadian UnderwriterArthur J. Gallagher (AJG) announced late Thursday that it has “extended its investment in Canada and further diversified it geographic presence” with the acquisition of retail insurance broker GPL Assurance Inc. in Quebec. Terms of the transaction were not disclosed. Established…
Net income for Swiss Re US$1.2 billion in 2017 H1, down from about US$1.9 billion in 2016 H1
August 4, 2017 by Canadian UnderwriterDisciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss…
Arthur J. Gallagher reports brokerage revenues of US$998.1 million for Q2 2017
July 31, 2017 by Canadian UnderwriterArthur J. Gallagher & Co. (AJG) has reported Brokerage revenues of US$998.1 million for the second quarter of 2017, up from US$997 million in the same quarter last year. Net earnings for the Brokerage segment for the quarter ending June…