News

Specialty insurer XL Group has announced a new product aimed at owners of yachts and other high-value and recreational vessels. Dubbed ShipShape, the product includes recreational marine coverages tailored to yacht owners, XL said in a statement announcing the product.…

An Ontario court has ruled against a major construction firm and three co-defendants who attempted to use a subrogation bar defence in a lawsuit filed by the Bank of Nova Scotia over damage resulting from a leak during a construction…

The Saskatchewan government has set out $198.3 million for crop insurance in its 2013-14 budget, which it says is the largest amount set aside in the program’s history. Coverage levels under the new budget will be $194 per acre on…

Data is increasingly being regarded as an asset since discussions around cyber security and privacy have moved beyond the realm of e-commerce to touching all types of organizations and industries today, Greg Eskins of Marsh Canada suggested during a presentation…

The Asia-Pacific region will be the major driver of growth for the world’s insurance sector by the year 2020, but the catastrophe-vulnerable area will remain underinsured, Munich Re said Wednesday. Premium income for the industry in that region will double…

The Insurance Bureau of Canada will soon be launching a public education display at a mall in the Greater Toronto Area focused on auto insurance issues, a hot topic in the region and Ontario generally. The “Time to Talk Tour”…

Spring is fast approaching and with it comes a caution from State Farm that the increased presence of wildlife along roadways could up hazardous conditions for motorists and wildlife alike. Motorists across the country are reminded to be on the…

The Financial Services Commission of Ontario (FSCO) has posted a warning to consumers that Antoinette Gail Freeman is not licensed to do insurance business in the province, as well as a notice of an auto insurance-related scam.     FSCO says…

Structural damage to buildings from earthquakes can have a negative impact on fire safety performance, suggest the results from a study in the United States. Researchers in the Department of Fire Protection Engineering at Worcester Polytechnic Institute (WPI) and the…

As the world is attempting to recover from the 2008 financial crisis and volatility in several regions, the latest Aon Political Risk Map shows more countries’ risk ratings have declined than in previous years, the company noted Tuesday. On the…

Claims technology provider Symbility Solutions announced Tuesday that its Symbility Mobile Claims app is now available for Android devices. The app aims to improve efficiency, customer service and speed during the estimation process. The app is now compatible with more…

Commercial property insurer FM Global reported Tuesday a 2012 year-end result of $5.5 billion in consolidated gross premium, an 8.6% increase from the previous year. Net income for the year was $774 million, and the company reported a combined ratio…