Keyword
terrorism
Bermuda’s global insurers, reinsurers could fund at least US$25 billion of insured losses from hurricanes
October 11, 2017 by Canadian UnderwriterBermuda 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…
Risk associated with domestic acts of terrorism shifting: RIMS report
October 10, 2017 by Canadian UnderwriterWhile 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…
Industry faces ‘very long list of emerging risks’ including pandemic: RIMS Canada CEO Panel
September 27, 2017 Greg Meckbach, Associate EditorTerrorism 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…
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…
Combined ratio down 4.6 points at Axis Capital
July 28, 2017 by Canadian UnderwriterAxis 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…
Allstate estimates June catastrophe losses at US$335 million
July 24, 2017 by Canadian UnderwriterThe 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,…
Chubb increases insurance capacity for terrorism, political risk
June 13, 2017 by Canadian UnderwriterChubb Limited announced Monday it will offer “new increased capacity,” up to US$150 million or 150 million euros, covering terrorism political risk and war risks. “Chubb has increased its terrorism and political violence capacity per account by 300% in the…
Canadian defence plan calls for cyber and drone attacks to meet 21st century threats
June 8, 2017 Mike Blanchfield - THE CANADIAN PRESSOTTAWA – Canada will add hundreds of new elite special forces commandos, wage offensive cyberwarfare attacks and deploy armed drones to international battlefields as part of its military response to new global security threats. The hotly anticipated new defence policy…
Terrorist attack on extraction companies likely low, cyber risk increase as refining process advances
April 28, 2017 Angela Stelmakowich, EditorPHILADELPHIA – Resources extraction industries are certainly not alone in facing cyber risk, but the risk of a related terrorism attack would most likely be higher later in the refining process, suggested Christof Bentele, head of global crisis management for…
Workplaces should consider the value of staff reporting, observation in combating potential terrorism, violence
April 25, 2017 Angela StelmakowichPHILADELPHIA – The value of staff monitoring and reporting to identify behaviours that may seem linked to the risk of terrorism and workplace violence should not be underestimated, Harry Rhulen, chief executive officer of Firestorm, suggested Tuesday during an educational…
Business losses from terrorism shifting away from property damage: Aon
April 6, 2017 by Canadian UnderwriterTerrorism “linked to” Al Qaeda and the Islamic State of Iraq and the Levant “remains a critical threat” worldwide, especially in the oil and gas sector, but with a recent trend towards terrorists using vehicles as weapons, the loss to…
Herding Cats
April 1, 2017 Angela Stelmakowich, Editor; and Greg Meckbach, Associate EditorCatastrophes, both natural and man-made, continue to capture the attention of
everyone involved in Canada’s property and casualty industry. By gathering the most up-to-date and relevant information, the thought is that stakeholders will better be able to herd straggler facts into a more manageable and usable form.