Keyword
United States
Global warming’s fingerprints seen in 24 weird weather cases
December 16, 2016 Seth Borenstein - THE ASSOCIATED PRESSWASHINGTON – A new scientific report finds man-made climate change played some role in two dozen extreme weather events last year but not in a few other weird weather instances around the world. An annual report released Thursday by the…
Total economic losses from nat, man-made disasters in 2016 at least US$158 billion: Swiss Re sigma estimate
December 15, 2016 by Canadian UnderwriterTotal economic losses from natural and man-made disasters in 2016 were at least US$158 billion, 68% higher than the US$94 billion losses in 2015, according to preliminary Swiss Re sigma estimates released on Thursday. The US$158 billion estimate in total…
U.S. Federal Reserve interest rate increase unlikely to provide much short-term relief for insurers: A.M. Best
December 14, 2016 by Canadian UnderwriterThe U.S. Federal Reserve’s decision to raise short-term interest rates by 25 basis points is unlikely to provide much relief for insurers, ratings firm A.M. Best Company said on Wednesday. That day, the Federal Reserve raised its benchmark rate by…
U.S. personal lines stable, commercial lines remain negative in A.M. Best’s 2017 outlooks
December 14, 2016 by Canadian UnderwriterRatings 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…
80% of the small-medium business market in the U.S. “significantly underserved” by insurers: Majesco
December 9, 2016 by Canadian UnderwriterSmall-medium businesses (SMBs) with less than 10 employees – or nearly 80% of all firms in the United States – have “significantly negative views of insurers and employee benefits providers, creating an opportunity for new, innovative business models, products and…
Policy uncertainty, rising rates pose credit risks in North America: S&P report
December 7, 2016 by Canadian UnderwriterCanada is expected to witness a slower pick-up in business investment until a clearer picture develops on recent developments around credit conditions south of the border, including the influence of the outcome of the recent U.S. election, suggests a briefing…
Insurer profitability, broker expertise key drivers of customer satisfaction in large commercial insurers in Canada and U.S.: J.D. Power study
December 5, 2016 by Canadian UnderwriterThe key variables driving overall commercial insurance customer satisfaction in Canada and the United States are insurer profitability and broker expertise, according to the J.D. Power 2016 Large Commercial Insurance Study. The survey, which provides an “independent and objective” measure…
Chelsea Avondale acquires Max Canada’s Canadian operations
December 5, 2016 by Canadian UnderwriterChelsea Avondale has acquired MAX Canada Insurance Company, which will continue to serve faith-based and Anabaptist communities under its existing name. Closing Nov. 30, the purchase included the acquisition of all MAX Canada-related operations in Canada, including Mutual Aid Insurance…
U.S. insurance broker profitability to persist in 2017, be supplemented by organic revenue growth: Fitch
December 2, 2016 by Canadian UnderwriterFitch Ratings expects insurance broker earnings and revenue south of the border to likely to modestly improve in 2017 compared to the first nine months of 2016. “In 2017, Fitch expects brokers will continue to supplement organic revenue growth through…
First above-normal Atlantic hurricane season since 2012 produced five landfalling U.S. storms: NOAA
December 1, 2016 by Canadian UnderwriterThe first above-normal Atlantic hurricane season since 2012 has produced five landfalling storms in the United States, the National Oceanic and Atmospheric Administration (NOAA) said on Wednesday. The Atlantic, eastern Pacific and central Pacific 2016 hurricane seasons ended on Nov.…
Millennials interact with their banks more than Boomers; banks need to provide digital focus for all generations
December 1, 2016 by Canadian UnderwriterMobile adoption is high among U.S. Millennials when it comes to retail banking, but so too is the likelihood of visiting a teller or calling a contact centre, reveals new research released Thursday by New York-based Bain & Company Inc.…
Fitch changes U.S. P&C insurance industry outlook to negative from stable
November 30, 2016 by Canadian UnderwriterFitch Ratings has changed the fundamental sector outlook for the United States property and casualty insurance industry to negative from stable, reflecting recent declines in profitability and anticipated further earnings deterioration in 2017 due to more competitive market conditions. Fitch…