Keyword
Underwriting
Willis reports ‘relative slowdown’ in claims for International Group of Protection & Indemnity clubs
December 22, 2015 by Canadian UnderwriterThe International Group of Protection & Indemnity Clubs, which write liability insurance for ship owners, is “in the healthiest state in its history,” while the majority of its 13 members are planning to raise premiums 2.5% on renewal in 2016,…
Intact donating $75,000 to help Syrian refugees get jobs in Canada
December 17, 2015 by Canadian UnderwriterTwo days after The Co-operators Group Ltd. announced its intent to provide $250,000 towards helping Syrian refugees find jobs in Canada, Intact Financial Corp. said it is donating $75,000 to immigrant employment centres across Canada, with a goal of helping…
Lloyd’s to launch insurance-based index in 2016
December 16, 2015 by Canadian UnderwriterLloyd’s of London, the world’s specialist insurance and reinsurance market, announced on Wednesday that it plans to launch its own insurance-based index in the summer of 2016. Lloyd’s said in a statement that the release “would be the first index…
Economical Insurance mutual policyholders vote to proceed to next step of demutualization
December 14, 2015 by Canadian UnderwriterEconomical Insurance is a step closer to an initial public offering of stock. Waterloo, Ont.-based Economical announced Monday its mutual policyholders voted in favour of continuing to the next stage of demutualization. Several other steps are necessary before its demutualization…
The Co-operators commits $250,000 to helping Syrian refugees gain employment
December 14, 2015 by Canadian UnderwriterThe Co-operators Group Ltd. announced Monday it has committed $250,000 towards preparing Syrian refugees for employability in Canada and will let its own employees take up to two paid days off a year to volunteer. “The company will be reaching…
45% of global insurers believe that connected devices will be driver of revenue growth in the next three years: Accenture
December 9, 2015 by Canadian UnderwriterInsurers are accelerating their plans to become more digital, driven by increased adoption of Internet of Things (IoT) technologies, data and analytics tools and digital-first distribution models, according to a report released on Wednesday by global professional services company Accenture.…
U.S. commercial, personal lines sector will remain stable in 2016 despite challenges: Fitch Ratings
December 8, 2015 by Canadian UnderwriterOne day after Fitch Ratings reported that the insurance market underwriting cycle is turning unfavourable in many commercial market segments in the United States, the ratings firm said that it is maintaining its stable ratings outlook in both the commercial…
U.S. underwriting cycle turning unfavourable in commercial segments, including D&O liability: Fitch Ratings
December 7, 2015 by Canadian UnderwriterThe insurance market underwriting cycle is turning unfavourable in many commercial market segments in the United States, including directors and officers (D&O) liability insurance, Fitch Ratings said on Monday. The credit ratings and research firm said in a press release…
Most polled Canadian organizations unprepared for cyber attack: Deloitte Canada
December 3, 2015 by Canadian UnderwriterJust one in five Canadian companies taking part in a recent Deloitte Canada survey report being prepared to effectively respond to a cyber attack. The survey – results of which are detailed in Navigating a harsh cyber security landscape –…
Positive underwriting gains expected in 2016 for U.S. commercial lines insurance: Wells Fargo
December 2, 2015 by Canadian UnderwriterDespite rate reductions and low investment returns, commercial lines insurance in the United States is on track for positive underwriting gains in 2016, according to Wells Fargo Insurance’s annual 2016 Market Outlook, released on Wednesday. Favourable losses across most insurance…
Combined ratio improves 2.9 points for Canadian P&C insurers: MSA
December 1, 2015 by Canadian UnderwriterFor the first nine months of 2015, underwriting income was nearly triple that of the same period in 2014, in the Canadian property & casualty insurance industry, MSA Research Inc. suggested in a recent report. Net premiums earned increased less…
Staying Dry
December 1, 2015 Greg Meckbach, Associate EditorResidential flood coverage is now available from three personal lines insurers in Canada. While a step forward for a peril that until just recently was deemed to be uninsurable, gaps do remain, with Insurance Bureau of Canada noting the offerings likely will not deal with all high-risk properties.