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Aon announces alternative cyber risk transfer approach

January 24, 2017 by Canadian Underwriter

Aon Global Risk Consulting announced on Tuesday its Cyber Captive Program, which guides companies through a series of steps to help identify, assess and quantify their cyber exposures – “ultimately making more informed decisions around risk retention in a captive

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U.S. personal auto industry showing signs of weakening underwriting and operating ratios: A.M. Best

December 19, 2016 by Canadian Underwriter

The personal automobile insurance industry in the United States is exhibiting signs of weakening underwriting and operating results, mainly driven by rising loss ratios, according to a new A.M. Best special report. A.M. Best reached this conclusion in its report,

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U.S. personal lines stable, commercial lines remain negative in A.M. Best’s 2017 outlooks

December 14, 2016 by Canadian Underwriter

Ratings firm A.M. Best is maintaining a stable outlook for 2017 on the personal lines segment of the property and casualty industry in the United States, while also maintaining a negative outlook on commercial lines. The Oldwick, N.J.-based firm maintained

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Chubb introduces Cyber COPE, a new model for underwriting cyber insurance

December 13, 2016 by Canadian Underwriter

Chubb announced on Tuesday that it has introduced Cyber COPE, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks. Authored by Ross Cohen, director of cyber/privacy services

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Marine market faced with “aging fleet of vessels,” CBMU president says

December 5, 2016 by Canadian Underwriter

The marine insurance market is “very competitive” and worldwide, premiums dropped 10.5% from 2014 to 2015, due in part to currency fluctuations, the president of the Canadian Board of Marine Underwriters said at a recent presentation. In the marine insurance

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Swiss Re plans to expand R&D capabilities to efficiently allocate capital into growing risk pools

December 2, 2016 by Canadian Underwriter

Swiss Re’s stronger focus on and investment in research and development (R&D) to identify risk pools, as well as its move to further leverage technology, seeks to meet the twin goals of facilitating enhanced client support and creating competitive advantage.

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Zurich Insurance announces plans to position itself for future, new profitability targets

November 17, 2016 by Canadian Underwriter

Zurich Insurance Group plans to build on customer relationships, simplify the business and significantly reduce costs as part of its renewed focus on increasing business profitability and delivering high-quality earnings over the 2017-2019 period, the global insurer announced Thursday. “In

News ConstructionInsuranceMergers and Aqcuisitions

Information availability key to enhancing coverage in construction

November 14, 2016 by Angela Stelmakowich

Having as much solid information as possible – as early as possible – can help open up the marketplace when it comes to available coverages for construction projects, Peter Campbell, Halifax branch manager for Jardine Lloyd Thompson Canada, suggested during

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A.M. Best maintains stable outlook for Canadian P&C industry; financial results strong again in 2015

November 8, 2016 by Canadian Underwriter

Ratings firm A.M. Best Company continues to maintain a stable outlook for the Canadian property and casualty insurance industry, noting that it has “historically shown resilience and the ability to adapt when necessary.” A.M. Best’s stable outlook is based primarily

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Echelon Financial Holdings Inc. posts net income of $1.4 million in 2016 Q3, up from $1.3 million loss in 2015 Q3

November 3, 2016 by Canadian Underwriter

Echelon Financial Holdings Inc. has posted a net income of about $1.4 million in 2016 Q3 compared to a $1.3 million loss in 2015 Q3, although net operating income for the most recent quarter decreased markedly as a result of

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IoT infrastructure investments to be covered by new industrial insurance

November 2, 2016 by Canadian Underwriter

Relayr is partnering with Hartford Steam Boiler (HSB), part of Munich Re, to develop customized insurance products to help relayr customers making Internet of Things (IoT) investments protect their return on those investments. Pointing out that that HSB has 150

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CNA Financial posts net income of US$343 million in 2016 Q3

November 1, 2016 by Canadian Underwriter

CNA Financial Corporation saw net income jump US$165 million to US$343 million in 2016 Q3 over the prior-year quarter, driven by the performance of its Property & Casualty Operations, higher net investment income and stable catastrophe losses. Net income for