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terrorism

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Is your client covered from business interruption arising from terrorism?

June 6, 2019 by Greg Meckbach

What if a terrorist attack interrupts your client’s business, but causes no actual injuries or damage to that client? Some insurers today are covering non-damage costs and loss of attraction. This could come into play if there is a terrorist

News InsuranceRisk

Terrorism is changing. How coverage is following suit

June 3, 2019 by Greg Meckbach

As the terrorism threat shifts from large-scale attacks to softer targets, coverage options from insurance carriers are evolving as well. Some policies cover incidents when an attacker uses a gun, knife or acid for example, Tarique Nageer, Marsh LLC’s terrorism

News InsuranceMarkets / Coverages

One reason why Canadian businesses aren’t buying terrorism coverage

November 23, 2017 Greg Meckbach, Associate Editor

Canadian businesses are taking a pass on terrorism insurance because they are not convinced they face a high enough risk to warrant the extra premium of at least $2,500 a year, brokers say. Property and commercial general liability policies tend

News InsuranceMarkets / Coverages

How a terror attack could spawn E&O claims against brokers

November 22, 2017 Greg Meckbach, Associate Editor

If a terrorist attack takes place in Canada, brokers could face errors and omissions (E&O) claims from business clients whose property and liability policies do not cover them, the director of a Canadian managing general agent suggested Wednesday. A typical

Greg Meckbach, Associate Editor
Feature Markets / Coverages

Thinking the Unthinkable

November 14, 2017 Greg Meckbach, Associate Editor

Brokers who watched the final panel of insurance chief executive officers (CEOs), at the recent RIMS Canada’s annual conference, would have heard that the Corporation of Lloyd’s perceives terrorism and nuclear incidents as two of today’s “top four” man-made threats.

News AnnouncementsClaimsInsuranceProducts

Frank Cowan Company offering new suite of products for terrorism coverage

October 17, 2017 by Canadian Underwriter

Now available from Frank Cowan Company is a new suite of products designed to help municipalities and public services organizations address the terrorism risk they face and transfer some of that risk via the insurance product. Partnering with XL Catlin

News AssociationsCatastrophesClaimsInsuranceReinsurance

Bermuda’s global insurers, reinsurers could fund at least US$25 billion of insured losses from hurricanes

October 11, 2017 by Canadian Underwriter

Bermuda market firms may fund at least a quarter of the estimated US$100 billion in aggregate insured losses from hurricanes Harvey, Irma and Maria, suggest preliminary aggregated loss estimates from the Association of Bermuda Insurers & Reinsurers (ABIR). “Based on

News InsuranceLegislation / RegulationMarkets / Coverages

Risk associated with domestic acts of terrorism shifting: RIMS report

October 10, 2017 by Canadian Underwriter

While domestic terrorism has historically represented a disproportionate risk to property, relative to bodily harm, spread over numerous smaller incidents, that risk has shifted, according to a new report from RIMS, the risk management society. More recently, risk associated with

News InsuranceMarkets / Coverages

Industry faces ‘very long list of emerging risks’ including pandemic: RIMS Canada CEO Panel

September 27, 2017 Greg Meckbach, Associate Editor

Terrorism and nuclear incidents are among the top risks keeping insurers awake at night, and the industry could do a better job of categorizing risk, chief executive officers of insurance providers suggested Wednesday to risk managers in Toronto. “Climate change

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 CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Allstate estimates June catastrophe losses at US$335 million

July 24, 2017 by Canadian Underwriter

The Allstate Corp. announced July 20 it estimates its catastrophe losses for the three months ending June 30 will be $993 million, pre-tax, of which $310 million is from 17 events in June alone. Northbrook, Ill.-based Allstate reported in August,