Keyword
United States
Munich Re, Insurance Europe welcome U.S.-EU covered agreement
January 20, 2017 by Canadian UnderwriterMunich Re and Insurance Europe are welcoming the successful conclusion of “covered agreement” negotiations between the United States and the European Union. Munich Re said in a press release on Thursday that “finalizing the agreement is an important step to…
AIG, National Indemnity ink reinsurance agreement covering long-tail prior-year commercial casualty
January 20, 2017 by Canadian UnderwriterAmerican International Group Inc. said Friday it “expects a material prior year adverse development charge” during the three months ending Dec. 31, 2016 and that National Indemnity Company (NICO) has agreed to reinsure 80% of losses on certain reserves for…
2016 marks three consecutive years of record warmth for the globe: NOAA
January 19, 2017 by Canadian UnderwriterThe year 2016 marked three consecutive years of record warmth for the globe, the National Oceanic and Atmospheric Administration (NOAA) reported on Wednesday. “With a boost from El Niño, 2016 began with a bang,” NOAA said in a press release.…
Global consumers skeptical about safety of fully autonomous vehicles: Deloitte study
January 18, 2017 by Canadian UnderwriterConsumers around the world remain skeptical about the safety of fully autonomous vehicles and hold widely divergent views on who they trust to bring autonomous vehicles to market, according to a new study from Deloitte. The study, What’s ahead for…
Two out of three U.S. homeowners insurance customers would switch carriers to get discounts for using smart home devices, study finds
January 17, 2017 by Canadian UnderwriterTwo out of three homeowners insurance customers in the United States would be willing to change insurance companies to get policy discounts for using smart home devices, according to new research findings released on Tuesday by NTT DATA. “Our study…
Economic losses from nat cat events in 2016 total US$210 billion, the highest loss amount in four years: Aon Benfield
January 17, 2017 by Canadian UnderwriterThree hundred and fifteen natural catastrophe events in 2016 generated economic losses of US$210 billion, the highest loss amount in four years and 21% above the 16-average of US$174 billion, according to Aon Benfield’s 2016 Annual Global Climate and Catastrophe…
Hurricane Matthew clocks top wind speed for 2016 at 101 miles per hour (162.5 km/h): CoreLogic
January 16, 2017 by Canadian UnderwriterHurricane Matthew, which became the first Category 5 Atlantic hurricane since Felix in 2007, clocked the top wind speed for 2016 at an estimated 101 miles per hour (about 162.5 kilometres per hour) on Oct. 6, according to CoreLogic’s Windy…
Freezing rain causes accidents, closures in U.S. southern Plains
January 13, 2017 Jim Salter - THE ASSOCIATED PRESSST. LOUIS – A thick glaze of ice covered roads from Oklahoma to southern Illinois on Friday amid a winter storm that caused numerous wrecks, forced cancellation of schools, grounded flights and prompted dire warnings for people to stay home.…
U.S. professional liability market to remain robust in 2017, with competitive level for D&O and E&O businesses remaining heightened: A.M. Best
January 13, 2017 by Canadian UnderwriterThe professional liability sector of the United States property and casualty insurance market will continue to be robust in 2017, with the competitive level for directors and officers (D&O) and errors and omissions (E&O) businesses specifically remaining heightened, A.M. Best…
Worldwide spending on 3D printing to reach US$29 billion in 2020: International Data Corporation
January 12, 2017 by Canadian UnderwriterWorldwide purchases of 3D printers, materials, software, and related services are expected to experience a five-year compound annual growth rate (CAGR) of 22.3%, with revenues reaching US$28.9 billion in 2020, according to the International Data Corporation (IDC). Earlier this week,…
Emerging technologies still discussed more than deployed by U.S. insurers, but balance is shifting: Novarica
January 12, 2017 by Canadian UnderwriterWhile “hot” topic areas like social media, mobile, analytics, big data, cloud, digital and Internet of Things (IoT) are still discussed more than they are deployed in most cases in the insurance industry in the United States, the balance is…
One in three cyberattacks in the past year resulted in a security breach for Canadian companies, new Accenture survey finds
January 11, 2017 by Canadian UnderwriterRoughly one in three targeted cyberattacks over the past year resulted in an actual security breach for Canadian companies, according to a new survey from global professional services company Accenture. Despite these breaches – which equate to three effective attacks…