News

Munich Re announced Wednesday it is providing reinsurance for some product warranties of Chinese solar module manufacturer Yingli Green Energy Holding Company Ltd. “In the event of an unexpectedly large performance loss below guaranteed performance specification, Munich Re indemnifies Yingli…

Swiss Re released Wednesday a report that predicts higher growth in Canada in direct premiums written in the non-life insurance market. The report, dubbed Global insurance review 2012 and outlook 2013/14, includes a table depicting real growth of direct premiums…

The Insurance Bureau of Canada is estimating insured damage caused by severe weather across Canada to be over $1 billion this year. Total insured damage in Canada during 2012 is approximately $1.19 billion, down from last year’s $1.7 billion, according…

The Manitoba government has pledged $100,000 of provincial support  to the Manitoba Council for International Cooperation (MCIC) in response to  flooding in the southern Philippines caused by typhoon Bopha. The natural disaster is reported to have killed more than 600…

Claims adjusting and management firm Cunningham Lindsey Group has announced the closing of its previously announced recapitalization by investor group CVC Capital Partners. Terms of the transaction, which was previously announced on Oct.1, 2012, were not disclosed. Read more: Investor group…

The Co-operators Group Ltd. of Guelph, Ont. is stepping up its efforts to encourage the installation of sprinklers in private homes, with a discount program offering up to 30% savings on premiums, a research project with a major Toronto hospital…

An advocacy organization representing auto accident victims is taking issue with some of the recommendations of the recently released report from the auto fraud task force in Ontario.  Although it describes the report as “largely a thoughtful and targeted approach…

ACE Ltd. and American International Group Inc. have released preliminary estimates of losses due to severe weather resulting from Hurricane Sandy. Preliminary losses in the fourth quarter of 2012 for the Zurich-based ACE Group of companies are estimated at US$380…

A recent hack attack on the computer network used by Nationwide Insurance in the United States may have exposed personally identifiable information of approximately one million policyholders and non-policyholders, prompting the company to commission an external review and highlighting the…

Fitch Ratings released Thursday a report on the U.S. insurance brokerage industry, noting top-line revenue growth has “not changed significantly” this year but operating earnings for its index of five firms was up 15%. The average reported revenue growth for…

This year is “virtually certain” to be the warmest year on record for the United States, the National Oceanic and Atmospheric Administration has reported. “The January to November period was the warmest first 11 months of any year on record…

A California information technology vendor is offering auto insurance based on the distance driven, along with hardware and software that accesses and analyzes driving data. On Dec. 5, MetroMile launched the company itself plus its Metronome hardware, which users plug into their…