Keyword
United States
Consumer-based approach key, consolidation a potential threat to making Ontario auto insurance market competitive
October 30, 2015 Angela Stelmakowich, EditorTaking a consumer-based approach to auto insurance is what allowed New Jersey to punt the perennial political football from the state arena and create a truly competitive market – something that Holly Bakke suggests Ontario could accomplish as well. “What…
Patricia-related insured losses to onshore properties in Mexico estimated not to exceed US$200 million
October 26, 2015 by Canadian UnderwriterOnshore properties in Mexico escaped major damage when Hurricane Patricia made landfall, with catastrophe modelling firm AIR Worldwide estimating Sunday that insured losses to those properties will not exceed US$200 million. When at its height earlier, the National Hurricane Center…
Travelers’ record NWP in 2015 Q3 over prior year quarter helps net income increase to US$928 million
October 22, 2015 by Canadian UnderwriterRecord net written premiums (NWP) for The Travelers Companies, Inc. in the third quarter of 2015 helped buoy the company’s net income the quarter, which reached US$928 million compared to US$919 million in the same period of 2014. The 1%…
Cyber risk a moving target, customers see pre- and post-event services as key: AGCS
October 16, 2015 Angela Stelmakowich, EditorWith insurers and customers alike still not fully understanding cyber risk and how damaging it could prove, Paul Schiavone suggests pre- and post-event services associated with cyber policies are becoming increasingly important to customers. “Unlike other insurance products that we…
Social media analytics not being used to full potential in corporate investigations: Deloitte
October 15, 2015 by Canadian UnderwriterSocial media analytics can help organizations scan for both previously and not-yet identified threats, but these tools are underutilized in corporate investigations, suggest findings of an online poll in the United States released this week by Deloitte Advisory. In all,…
Hurricane Joaquin intensifies as it tracks through Bahamas, insured losses could be limited: AIR Worldwide
October 2, 2015 by Canadian UnderwriterThe transforming Hurricane Joaquin slowly tracking through the Bahamas is reminiscent of Hurricane Irene four years ago, but the latest storm is affecting Bahamian islands where insurance up-take is low, which will help limit insured losses, suggests a statement issued…
U.S. p&c insurers must be careful investors: A.M. Best
September 22, 2015 by Canadian UnderwriterProperty and casualty insurance companies in the United States have demonstrated continued interest in equity holding, but are advised to be prudent and careful investors by managing the risk of their invested premium dollars, A.M. Best suggests in a special…
U.S. study explores ways to build resilience to wildfire, recommends developing a sustainable strategy: Swiss Re
September 18, 2015 by Canadian UnderwriterMost states in the United States lack a sustainable financial strategy to respond to the changing climate landscape, including wildfires, notes a study released Thursday by Swiss Re and Johns Hopkins School of Advanced International Studies (SAIS). “Although individual decision-makers…
Companies like Uber, Lyft blurring the lines between U.S. personal and commercial insurance coverage: A.M. Best
September 18, 2015 by Canadian UnderwriterTransportation network companies (TNCs) are raising questions about insurance coverage – and gaps in that coverage – but represent a potential area of growth for insurers if protective measures are taken, notes a briefing from A.M. Best. The demand for…
Chile quake’s estimated losses high, damage to several coastal towns
September 18, 2015 by Canadian UnderwriterThe U.S. Geologic Society is reported to have made a loss estimate from the 8.3-magnitude earthquake in Chile on Sept. 16 – emphasizing it is early on and the range is far from concrete – of as much as US$1…
Sea level rise may challenge some local governments in U.S., spur higher insurance rates for citizens: Fitch Ratings
September 17, 2015 by Canadian UnderwriterThe rise in sea levels in the long term – made worse by event risks such as hurricanes and storm surges – may pressure the operations, capital funding requirements and indebtedness of some local governments in the United States, Fitch…
Cyber insurance market could increase to at least $7.5 billion by 2020, cyber resilient approach urged: PwC
September 16, 2015 by Canadian UnderwriterThe global demand for cyber insurance presents a huge commercial opportunity for insurers and reinsurers – estimated to be at least US$7.5 billion by the end of the decade – but with that opportunity comes risks that could be potentially…