Keyword
Zurich
Three insurers refuse deal to sell Canadian diamond mine for $166 million
October 13, 2020 The Canadian PressCALGARY – A deal to sell the suspended Ekati Diamond Mine in the Northwest Territories for about $166 million has fallen through after bond issuers refused to go along with it. Owner Dominion Diamond Mines ULC says the offer by…
Big Moves – Financial executive departs from Intact
May 9, 2019 Canadian Underwriter staffDon Fox oversaw many finance-related functions at Intact Financial
This technology can help attract talent
February 28, 2019 by Greg MeckbachUsing technology like artificial intelligence can help insurers attract the right people and keep them engaged, suggests the head of a major Canadian insurer. “It’s a tough talent market right now across the leading insurance markets in the world. Canada…
How Zurich can use AI to reduce a broker’s E&O exposure
February 25, 2019 by Greg MeckbachA Toronto-based artificial intelligence (AI) vendor is working with Zurich Canada to reduce errors and omissions risk in commercial insurance policies. Often commercial policies have dozens of pages with several endorsements, which someone needs to read for accuracy before the…
Zurich estimates net claims related to Hurricanes Harvey, Irma and Maria of US$700 million
October 19, 2017 by Canadian UnderwriterZurich Insurance Group has become that latest insurer to estimate the impact of Hurricanes Harvey, Irma and Maria on its book of business. Zurich said in a press release on Thursday that it currently estimates aggregate claims in the third…
PERILS discloses second loss estimate of 259 million euros for extratropical cyclone Zeus
June 6, 2017 by Canadian UnderwriterPERILS AG has disclosed a second loss estimate for extratropical cyclone Zeus of 269 million euros. The revised estimate, released on Tuesday, is for the property insurance market loss, said PERILS, an independent organization based in Zurich, Switzerland that provides…
Zurich reports business operating profit of US$4.5 billion for 2016, up 55% from prior-year period
February 10, 2017 by Canadian UnderwriterZurich Insurance Group has reported a business operating profit (BOP) for the full-year ending Dec. 31, 2016 of US$4.5 billion, up 55% from the prior-year period. The fourth quarter BOP for the three months ending Dec. 31, 2016 was up…
More than half of polled P&C insurers aware of implications and potential of blockchain: Strategy Meets Action
November 11, 2016 by Canadian UnderwriterMore than half of P&C insurers surveyed by insurance strategic advisory firm Strategy Meets Action (SMA) are at least aware of the implications and potential of blockchain in the industry, a new report from the company has found. In particular,…
Aegon, Allianz, Munich Re, Swiss Re and Zurich launch blockchain initiative B3i
October 19, 2016 by Canadian UnderwriterFive insurers and reinsurers – Aegon, Allianz, Munich Re, Swiss Re and Zurich – have launched the blockchain insurance industry initiative B3i, aimed at exploring the potential of distributed ledger technologies to better serve clients through faster, more convenient and…
Zurich Insurance Group’s 2016 business operating profit down in H1, up in Q2 over prior-year periods
August 11, 2016 by Canadian UnderwriterContinuing to build on its efforts to simplify and become more agile, Zurich Insurance Group reports that its business operating profit (BOP) for the first half of 2016 was US$2.194 million, down 2% from US$2.238 million for 2015 H1. Figures…
Top court will not hear appeal of Sask. appeal court’s reduction of punitive damage against insurers found to have breached duty of good faith
April 25, 2016 by Canadian UnderwriterThe Supreme Court of Canada recently announced it will not hear an appeal from a claimant over a decision, by the Saskatchewan Court of Appeal, which reduced $4.5 million in punitive damages against two insurance companies, in a lawsuit over…