Segment
Risk Management
Earthquake rocks Myanmar, damaging monasteries, infrastructures
March 25, 2011 by Canadian UnderwriterA magnitude 6.8 mW earthquake struck in Myanmar, near the border with Thailand, and was felt as far away as Hanoi, Vietnam, reports RMS.Initial reports from Myanmar indicate the earthquake damaged close to 250 houses, 14 Buddhist monasteries and nine…
Economic growth a main reason for the escalation of insured natural catastrophe losses since 1970: Allianz
March 24, 2011 by Canadian UnderwriterEconomic growth in high-risk areas has contributed to the average annual cost of insured claims from natural catastrophes increasing eight-fold since 1970, according to an Allianz report, Natural Catastrophes on the rise?The report notes average insured claims costs related to…
Crawford Cares campaign reaches new record donation to WICC
March 24, 2011 by Canadian UnderwriterCrawford & Company (Canada) Inc.’s 2010 Crawford Cares campaign raised more than $111,000 for the Women in Insurance Cancer Crusade (WICC), a new record for the company’s annual campaign. Crawford Cares has raised more than $450,000 for WICC since the…
Corrected Item: Ontario high court ruling in Shoeless Joe’s v. Insurance Portfolio
March 24, 2011 by Canadian UnderwriterCorrection/Clarification/Apology This is an updated, corrected and amended version of a story that appeared in Canadian Underwriter‘s online news on Mar. 9, 2011. The article reported on an Ontario Court of Appeal decision in the case Shoeless Joe’s v. Insurance…
US commercial lines remain flat for eight consecutive quarter
March 24, 2011 by Canadian UnderwriterCommercial insurance prices in the United States were relatively flat for the eighth consecutive quarter, while accident-year loss ratios deteriorated relative to the same period in the prior 12 months, according to Towers Watson. Commercial insurance prices, in aggregate, declined…
Compounding of catastrophes in Q1 likely to cause hardening of global property rates: Aon
March 23, 2011 by Canadian UnderwriterJapan’s recent earthquake and tsunami, combined with recent natural catastrophes in Australia and New Zealand in 2011 Q1, are likely to cause considerable pricing tension in the global property market, said Andrew Laing, property and casualty brokering team leader for…
British Columbia conducts tsunami drill
March 23, 2011 by Canadian UnderwriterBritish Columbia’s emergency officials ran a drill to see how the province would fare if a large-scale tsunami struck the West Coast. The exercise, dubbed Pacifex11, was run through the West Coast and Alaska Tsunami Warning Center on the morning…
RSA “big on…” new ad campaign
March 23, 2011 by Canadian UnderwriterFresh off its completed acquisition of GCAN Insurance, RSA Canada has launched a new advertising campaign, We’re big on…, which highlights the company’s strengthened position in the commercial lines space.RSA Canada says its new ad campaign, launched on Mar. 23,…
RSA Canada undertakes ‘Climate Week’ in support of Earth Hour
March 22, 2011 by Canadian UnderwriterRSA Canada announced its support for the World Wildlife Fund (WWF)’s Earth Hour 2011, an international ‘lights out’ event taking place form 8:30 pm to 9:30 pm on Mar. 26.During the event, businesses and homeowners are encouraged to turn off…
Allianz Corporate & Specialty Canada launches mid-market products
March 22, 2011 by Canadian UnderwriterAllianz Corporate & Specialty Canada (AGCS) is now offering insurance products and services for mid-level business in the Canadian market.AGCS Canada will design insurance solutions for mid-sized companies across a wide range of sectors, including manufacturing/distribution, construction, telecommunications/media and will…
Cunningham Lindsey’s response team lands in Japan
March 22, 2011 by Canadian UnderwriterThe first of adjustment firm Cunningham Lindsey’s CAT team members have arrived in Tokyo to support Nagamatsu Inc. (Cunningham Lindsey’s exclusive representatives in Japan) and Cunningham’s international clients.“All will be aware of the difficulties that the country is having to…
Swiss Re estimates it will pay out $1.2 billion in claims losses from Japanese earthquake, tsunami
March 21, 2011 by Canadian UnderwriterSwiss Re estimates pre-tax claims costs of $1.2 billion as a result of damage caused by the March 2011 earthquake and tsunami in Japan. The reinsurer noted its estimate is subject to a “high degree of uncertainty” since the event…