H.W. Kaufman Financial Group announced on Wednesday that it has “strategically” combined US-Reports and Canadian Reports, rebranding both companies under the name Afirm. The merger will continue their global presence and allow a single source for loss control inspection, premium…
DuPont and the Chemours Company have announced a nearly US$671 million settlement agreement in connection with personal injury claims arising from environmental releases of perfluorooctanoic acid and its salts (PFOA) from the Washington Works plant in West Virginia. The Canadian…
American International Group, Inc. (AIG) has posted net losses for both the full year and the fourth quarter of 2016, but company president and CEO Peter Hancock reports that actions taken last year will help “dramatically reduce uncertainty and deliver…
Arch Capital Group Ltd. reported Monday a combined ratio of 99.4% in insurance during the last three months of 2016 due in part to Hurricane Matthew, while net favorable development, due in part to better than expected claims emergence in…
HALIFAX – Parts of Atlantic Canada remained under a blizzard warning Tuesday after a massive storm descended on the region, dumping a thick blanket of snow and unleashing howling winds before marching off to Newfoundland. Environment Canada issued the warnings…
Wildfires in Tennessee, an earthquake in New Zealand, Hurricane Matthew and energy-related losses all contributed to a 20.2-point deterioration in the fourth-quarter loss ratio in reinsurance for Aspen Insurance Holdings Ltd., while in primary insurance, Aspen reported a combined ratio…
Insurance Corporation of British Columbia announced Wednesday it will offer optional coverage for windshield repair for private passenger vehicles as well as some commercial light vehicles. “Starting this spring, customers who purchase ICBC’s optional comprehensive coverage will be able to…
A rain storm in Burlington, Ont. during the summer of 2014 prompted officials from the upper tier of municipal government to take measures to address flood risk on homeowners’ properties, a speaker told insurance professionals at a conference Thursday. On…
H.W. Kaufman Financial Group and Burns & Wilcox Canada announced on Tuesday that they have acquired the high-value homeowner’s insurance practice from Quebec-based XN Financial Services, Inc. XN is a subsidiary of The Henner Group, a France-based insurance specialist offering…
The industry-wide combined ratio of the United States property & casualty insurance industry is estimated to have deteriorated by 2.4 points to 100.7% in 2016, A.M. Best Company Inc. said in a recent report. The decline in underwriting performance “was…
A week after American International Group Inc. announced it expects to report next month a “material prior year adverse development charge” for Q4 2016, A.M. Best Company Inc. has placed the long-term issuer credit rating of the New York City-based…
Future disability benefits under the Canada Pension Plan are not deductible from auto insurers’ payments under the Nova Scotia family protection endorsement, the Supreme Court of Canada found in a ruling released Friday. Canada’s highest court restored a 2013 ruling,…