Research out of the University of Waterloo recommends a Canadian standard for new flood-resilient residential communities, one that employs almost two dozen best practices, be developed to bolster protection and reduce water-related losses. Requiring that new homes not be built…
Intact Financial Corporation (IFC) announced on Monday that it has obtained all regulatory approvals required to complete the previously announced proposed acquisition of OneBeacon Insurance Group, Ltd. The acquisition is expected to close on or about Sept. 28, IFC said…
The Allstate Corporation has estimated gross catastrophe losses, excluding homeowners flood, of US$576 pre-tax for Hurricane Harvey. The losses will be reduced by US$23 million in anticipated reinsurance recoveries, for a net estimated loss of US$553 million, Northbrook, Ill.-based Allstate…
Just days after acquiring P&C brokerage Integro (Canada) Ltd., Hub International Limited announced it has acquired Saskatchewan brokerage Delisle Agencies Ltd. Terms of the acquisition were not disclosed. Based in Delisle, Sask., the brokerage specializes in personal lines and government…
Hurricane Harvey is likely to be one of the costliest natural disasters on record for the economy of the United States, with damage from the hurricane to minimally cost tens of billions of dollars, Aon Benfield has reported. Impact Forecasting,…
Hub International Limited announced on Friday that is has acquired P&C brokerage Integro (Canada) Ltd. Terms of the acquisition were not disclosed, Hub noted in a press release. With offices in British Columbia, Ontario and Quebec, Integro Canada is a…
Property losses from flooding in Texas caused by Hurricane Harvey’s record-breaking rainfall will be between US$65 billion and US$75 billion, catastrophe modelling firm AIR Worldwide estimated in a press release issued late Wednesday. The estimate includes damage to all properties…
Chubb announced on Wednesday that it has broadened its enterprise risk management solutions for Chubb commercial cyber policyholders in the United States and Canada. Two new policy forms, Cyber Enterprise Risk Management and DigiTech Enterprise Risk Management, combine cyber insurance…
Hannover Re has reported a 17.3% increase in property and casualty reinsurance gross written premiums (GWP) for the first half of the year to 5.4 billion euros from 4.6 billion euros in H1 2016. “The main driver was once again…
Boston-based Berkshire Hathaway Specialty insurance, which announced its entry in 2015 into the Canadian market, had a 23% increase in premiums written for the first half of 2017 versus 2016, while the Berkshire Hathaway Reinsurance Group had liabilities for losses…
Relentless seasonal flooding that began in mid-June resulted in continued fatalities and damage across parts of Asia in July, causing an estimated US$11 billion in economic losses, according to Impact Forecasting’s latest Global Catastrophe Recap report. On Tuesday, Impact Forecasting,…
Chicago, Ill.-based Hub International Limited announced on Monday that Hub Quebec has purchased “certain assets” from Patrice Varin, through a corporation held by him. Terms of the acquisition were not disclosed. Varin will join Hub Quebec, bringing with him a…