The ‘social inflation’ affecting Fairfax Financial’s run-off business
February 21, 2020 by Greg MeckbachAsbestos-related commercial liability claims could soon reach a peak, but they continue to be a concern for the property and casualty insurance industry, suggests Prem Watsa, founder and chairman of Toronto-based Fairfax Financial Holdings Ltd. “Asbestos has been a problem…
Root cause of commercial auto woes hard to pinpoint: Insurer CEO
October 25, 2018 by Greg MeckbachCommercial auto losses have been worse than expected for The Travelers Companies Inc., and company officials are not exactly sure why. “It’s a line that has been challenged from a profitability perspective for a while,” Travelers chairman and CEO Alan…
Beware of this water-related risk excluded by CGL
July 9, 2018 by Greg MeckbachIf water damage is top of mind for property insurers, does this mean mold is covered by a commercial general liability policy? Not necessarily. Commercial brokers should make sure they aware of exclusions in CGL policies that would prevent their…
Q2 catastrophe losses up 50.6% for Travelers after hail, wildfires
July 21, 2016 by Canadian UnderwriterThe Travelers Companies Inc. reported Thursday its combined ratio deteriorated 2.3 points, it renewed July 1 a property catastrophe reinsurance contract for Canada covering losses between $200 and $600 million (plus 50% of losses over $100 million), and that it…