Keyword
Underwriting
Joint effort seeks to help reduce anchor losses, related damage
March 18, 2016 by Canadian UnderwriterA new investigation suggests many anchor losses are avoidable and shed light on a potentially bigger issue: the need for crews to be aware of the environmental loads for which equipment is designed. A rising number of anchor losses reported…
Global insurer M&A transaction values reach US$195 billion in 2015
March 18, 2016 by Canadian UnderwriterThe aggregate value of global insurance transactions in the property-casualty, life and health sectors last year was four times higher than in 2014, reaching US$195 billion, notes a study released this week by Conning, Inc. “M&A activity in 2015 was…
U.S. interest rates unchanged, Federal Reserve foresees fewer hikes in 2016
March 17, 2016 by Canadian UnderwriterWASHINGTON – The United States Federal Reserve is keeping a key interest rate unchanged in light of global pressures that risk slowing the U.S. economy. As a result, officials with the Federal Reserve System expect to raise rates more gradually…
Opta says model lets insurers ‘quickly identify properties more at risk of flooding’
March 17, 2016 by Canadian UnderwriterSCM Insurance Services announced Wednesday that its Opta Information Intelligence unit has a partnership with Impact Forecasting LLC to provide flood model products to Canadian insurance providers. “Opta will leverage this technology to provide its customers with the ability to…
Rising demand for cyber insurance creates opportunity for insurers worldwide: IDC Financial Insights
March 17, 2016 by Canadian UnderwriterTremendous opportunities exist for insurers around the world to capitalize on the largely untapped cyber insurance market, a move that could help them balance their risk portfolios and maintain a positive outlook, suggests a report released this week by IDC…
Competition drives ‘declining insurance pricing’ in many U.S. segments: Fitch
March 16, 2016 by Canadian UnderwriterThe combined ratio for a group of insurance firms tracked by Fitch Ratings Inc. deteriorated 1.1 points from 93.4% in 2014 to 94.5% in 2015, Fitch reported Tuesday. “Fitch’s universe of 45 (re)insurance organization reported an aggregate a 7.2% decline…
IronPro launches enhanced cyber, tech E&O products in Canada
March 16, 2016 by Canadian UnderwriterIronPro, the financial and professional lines unit of Ironshore, is introducing a suite of enhanced cyber and technology errors and ommisions (E&O) products customized for the Canadian marketplace. The products will also provide eligible Ironshore Highly Protected Information policyholders with…
Financial services concerned standalone FinTechs a risk to their business, not capitalizing on blockchain: PwC
March 16, 2016 by Canadian UnderwriterMore than eight of 10 surveyed financial services firms, including banking and insurance, report believing part of their business is at risk of being lost to standalone FinTech companies, suggests a report released Tuesday by PricewaterhouseCoopers (PwC). Based on a…
Risk managers must address cyber security as an enterprise risk: FERMA
March 15, 2016 by Canadian UnderwriterBusinesses have difficulties with reaching a basic level of protection around cyber security, often as a result of a lack of risk insights and data driven risk mitigation and risk management must play a central role, the Federation of European…
CFC launches new insurance suite for product recall market
March 14, 2016 by Canadian UnderwriterSpecialist lines underwriting agency CFC Underwriting has launched a new suite of product recall products, available globally, to help enhance insureds’ protection, including from events related to hacking and electronic attack. The suite is aimed at industries ranging from food…
Commercial insurance prices in most lines dropped year-over-year ‘in low single digits’ in Q4: Willis Towers Watson
March 14, 2016 by Canadian UnderwriterThe change in commercial insurance prices from the fourth quarter of 2014 to the fourth quarter of 2015 were “nearly flat,” Willis Towers Watson plc reported Monday. London-based Willis Towers Watson released its Commercial Lines Insurance Pricing Survey (CLIPS), which…
CANATICS, IBC taking important step forward in fight against organized insurance crime
March 14, 2016 by Canadian UnderwriterCanadian National Insurance Crime Services (CANATICS) and Insurance Bureau of Canada (IBC) are joining forces in the war on organized insurance crime, hoping to advance efforts with a mix of timely early warnings and investigation expertise. The strategic move to…