Keyword
Underwriting
Recent environmental agreements open the door for innovative insurance solutions: Geneva Association
February 16, 2016 by Canadian UnderwriterRecent international agreements to combat climate change clear the way for developing innovative insurance solutions that could help societies become more resilient, although pricing difficulties coupled with often-conflicting public policy measures continue to be challenges, suggests the Geneva Association. Released…
Zurich aims to ‘better account’ for interconnectivity of risks in general insurance
February 11, 2016 by Canadian UnderwriterZurich Insurance Group reported a combined ratio of 103.6% in general insurance in 2015, up 6.8-points from 96.8% 2014, and while part of that was due to an explosion in a Chinese port last summer, the insurer said its results…
Premiums drop 7.4% at Arch Capital
February 10, 2016 by Canadian UnderwriterInsurance carrier Arch Capital Group Ltd. reported Tuesday its financial results, reporting an 8.6% drop in underwriting income and a 1.2-point increase – to 88% – in its combined ratio. Hamilton, Bermuda-based Arch reported net premiums written of $3.35 billion…
Intact Financial Corporation’s net income down in both 2015 Q4 and full year, but outlook positive
February 10, 2016 by Canadian UnderwriterIntact Financial Corporation reports that its net income for the 2015 Q4 fell 3% to $198 million compared to 2014 Q4, while full-year net income decreased 10% year-over-year. Figures released Tuesday by the company indicate net income for the fourth…
Integro coverage offers healthcare institutions protection against medical malpractice claims administration risk
February 9, 2016 by Canadian UnderwriterIntegro Ltd. has introduced exclusive professional liability/errors & omissions insurance coverage to help protect healthcare institutions with self-insured professional liability programs from claims-handling exposures inherent in adjusting medical malpractice claims. The coverage – underwritten by London-based Cove Program Underwriters –…
Willis Re, technology company Measure announce strategic partnership to advance drone usage for insurance industry
February 8, 2016 by Canadian UnderwriterWillis Re, the reinsurance business of global advisory, broking and solutions company Willis Towers Watson, has announced a strategic partnership with technology company Measure to advance the use of drones within the insurance industry. Integrating drone technology into the insurance…
App to help customers have quicker environmental spill emergency response: Zurich
February 8, 2016 by Canadian UnderwriterZurich has released a mobile app – designed for qualified customers throughout North America in industries that deal with hazardous materials – meant to help them speed up response to spills requiring emergency environmental clean-up. The Zurich Environmental Emergency Response…
Allstate Corporation property-liability combined ratio up 2 points in Q4 2015
February 5, 2016 by Canadian UnderwriterNorthbrook, Ill.-based Allstate Corporation has reported a 2% increase in its property-liability combined ratio, from 90% for the three months ending Dec. 31, 2014 to 92% for the three months ending Dec. 31, 2015. For full-year 2015, the combined ratio…
Kingsway Financial Services Inc. records loss for 2015 Q4 compared to 2014 Q4, but posts US$1.3 million net income for 2015
February 5, 2016 by Canadian UnderwriterToronto-based Kingsway Financial Services Inc. posted net income of about US$1.3 million for 2015 compared to a loss of US$11.2 million for 2014, offering what senior executives regard as positive indicators for the company’s long-term potential. Kingsway Financial’s unaudited results…
New HSB cyber product targets mid-size companies with revenues of $10 million to $250 million
February 4, 2016 by Canadian UnderwriterThe Hartford Steam Boiler Inspection and Insurance Company (HSB) has announced the availability of a stand-alone insurance product that seeks to fill the coverage gap for mid-size companies by offering them direct coverage for multiple types of data and cyber…
IoT poses one of insurance industry’s biggest underwriting challenges: Rosenbaum
February 3, 2016 Angela Stelmakowich, EditorOne of the insurance industry’s biggest challenges on the underwriting side is “how to effectively and profitably transfer cyber risk with respect to machine-to-machine technology,” so-called Internet of Things, Brian Rosenbaum, national director of the Legal and Research Practice at…
Adjusters need new skill set to handle technology-type claims; industry must identify benefit technology can provide
February 2, 2016 Angela Stelmakowich, EditorDrones are a new technology that could lead to more claims given the current environment, but also clearly illustrate the need for a new breed of adjuster equipped with a different skill set, Paul Hancock, national director of global technical…