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A.M. Best has ‘significant concerns’ about global reinsurance industry after 2016 accident year combined ratio tops 100%

September 5, 2017 by Canadian Underwriter

The global reinsurance market is “far from thriving” and while the Lloyd’s market “maintains an excellent business profile,” its accident year combined ratio in reinsurance exceeded 100, A.M. Best Company Inc. said in a report released Tuesday. Each September, Oldwick,

News InsuranceMergers and Aqcuisitions

80% of polled Canadians not properly insuring belongings when moving to new homes

August 16, 2017 by Canadian Underwriter

Eight of 10 Canadians taking part in a survey from Square One Insurance Services Inc. report not properly insuring their belongings while moving to their new homes. With more than 300,000 Canadians moving to new homes in different provinces each

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

‘All regulatory approvals’ received for Fairfax-Allied World merger but deal still not complete

June 29, 2017 by Canadian Underwriter

Toronto’s Fairfax Financial Holdings Ltd. announced Thursday it now has “all regulatory approvals that are necessary” for it to merge with Swiss insurer and reinsurer Allied World Assurance Company Holdings AG but suggested fewer than 90% of Allied World shareholders

News InsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

Fairfax-Allied merger offer expires Friday night

June 28, 2017 by Canadian Underwriter

Shareholders of commercial insurer and reinsurer Allied World Assurance Company Holdings AG are being urged to accept the offer from Toronto-based Fairfax Financial Holdings Limited to buy Allied World shares because the merger agreement initially announced a week before Christmas

News InsuranceLegalMarkets / CoveragesReinsuranceTechnology

Cyber security a ‘key aspect’ of risk management for medical professional liability insurers: A.M. Best

May 11, 2017 by Canadian Underwriter

Medical professional liability insurers who retain cyber risk need to limit their exposure “through strong policy language,” A.M. Best Company Inc. warned in a report released Wednesday. The ability to “identify emerging risks in areas such as cyber security,” is,

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Organizations considering standalone cyber coverage should evaluate risk profile to see if traditional policies are adequate: RIMS

March 24, 2017 by Canadian Underwriter

Organizations considering standalone cyber coverage should carefully evaluate their risk profile and determine whether more traditional policies provide adequate coverage, suggests a newly released report from RIMS, the risk management society. The report, authored by Teri Cotton Santos, a member

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsProfessional DevelopmentTechnology

Third-party service providers can be ‘hornets nest’ in cyber security: ICRMC speaker

April 2, 2016 Greg Meckbach, Associate Editor

Contracts with information technology service providers can be critical in managing risk from cyber incidents, and third-party providers need to be involved in exercising contingency plans for cyber breaches, speakers suggested Friday at the 2016 International Cyber Risk Management Conference