XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net…
The United States experienced 15 “weather and climate disasters” last year – each with losses exceeding US$1 billion – for a total of US$46 billion, the National Oceanic and Atmospheric Administration (NOAA) reported on Monday. The disasters, which included eight…
While consumers in the United States are excited by the progression toward “connected living,” they are also concerned about identity theft, cyberattacks and privacy issues, according to a new report from Assurant, Inc., a global provider of risk management solutions.…
Top cyber threats in the coming year include nation state cyber espionage, a rise in data integrity attacks and more attacks harnessing Internet of Things (IoT) devices, Stroz Friedberg, an Aon company, notes in its 2017 Cybersecurity Predictions report. “We…
The US$175 billion in natural catastrophes losses in 2016 – the lion’s share of which were uninsured – dwarfed those in the previous year and were just shy of 2012’s US$180 billion total, Munich Re reports. The research released Wednesday…
Canadian risk has begun to feature “fairly prominently” in the catastrophe bond market, with three cat bonds issued last year, according to Property Claim Services’ (PCS) full-year cat bond report for 2016. The report, titled Strong Finish: PCS FY2016 Catastrophe…
The merger agreement between Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG – announced Dec. 18 – reflects “the view that the new U.S. government may provide a more favorable corporate tax environment” and demonstrates “that scale…
Lemonade Insurance Company announced on Friday that it has filed for a licence in 46 states and the District of Columbia in the United States, in addition to New York, where it was licensed three months ago. Lemonade, the renters…
Chubb announced on Thursday an expanded suite of cyber loss mitigation services is now available to help the company’s policyholders in Canada and the United States reduce the impact and likelihood of a cyber incident. According to a press release…
Canada’s Competition Bureau said on Monday that a settlement agreement, if approved, would provide buyback and restitution payments to consumers in relation to Volkswagen and Audi’s “emissions scandal.” If approved by the courts, the settlement would be one of the…
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,…
The private cyber insurance market in the United States is capable of managing most risks, according to a new policy study from Washington, D.C.-based think tank R Street Institute. Released on Thursday, the study from R Street senior fellow Ian…