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How emergency generators can help reduce insured losses

January 11, 2019 by Jason Contant

Emergency generators not only temporarily provide electricity during a power outage, but can also mitigate property damage and help reduce insured losses, says a new report from the Institute for Catastrophic Loss Reduction (ICLR). These generators can help reduced insured

News ClaimsInsuranceLegal

Lloyd’s disputes claim over diamond-studded statue

January 8, 2019 THE CANADIAN PRESS

VANCOUVER – A major insurance company is fighting back after a British Columbia court required it to make good on a policy covering a gold, diamond-encrusted eagle statue allegedly stolen in Metro Vancouver more than two years ago. The B.C.

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2019 Executive Outlook | Ulrich Kadow, AGCS Canada

January 3, 2019 Canadian Underwriter

Canadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019

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Marriott data breach could cost over $200 million: AIR

December 20, 2018 by Greg Meckbach

The hacking of a hotel reservation system affecting Sheraton, Westin, Starwood and Marriott could cost up to $600 million for direct losses alone, AIR Worldwide said this week. AIR, a subsidiary of Verisk Analytics Inc. that produces catastrophe loss models,

News AdjustersClaimsMergers and AqcuisitionsTechnology

Calgary claims vendor now owned by CoreLogic

December 19, 2018 by Greg Meckbach

CoreLogic Inc. announced Wednesday it has closed its acquisition of Symbility Solutions Inc. Irvine, Calif.-based CoreLogic – which provides risk data on properties to property and casualty insurers – already owned 28% of Symbility, a Calgary-based vendor of claims processing

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CoreLogic takeover of Symbility approved by shareholders

December 14, 2018 by Greg Meckbach

Canadian claims software vendor Symbility Solutions Inc. is a step closer to being acquired by data provider CoreLogic Inc. Calgary-based Symbility said Thursday an overwhelming majority of its shareholders have approved a $160-million deal originally announced Oct. 22. The deal

News ClaimsInsurance

How costly is the fire peril for Canadian insurers?

December 13, 2018 by Jason Contant

The traditional fire peril continues to cost Canadian insurers, with fire/explosion accounting for almost a quarter (23%) of commercial claims by value, Allianz Global Corporate & Specialty (AGCS) said in its new Global Claims Review report, released Thursday. AGCS analyzed

News InsuranceLegislation / RegulationRiskTechnology

This commercial insurers’ concern caught the auditor general’s attention

December 12, 2018 by Greg Meckbach

Concerns from insurers about boiler explosions has prompted an Ontario safety watchdog to recommend more regulatory oversight of pressure vessels and boilers used in wineries and other agricultural operations, the auditor general noted in a recent report. “Ontario is the only

News ClaimsInsuranceLegal

Does CGL’s duty to defend apply to the insurance policy as a whole?

December 10, 2018 by Jason Contant

An insurer’s duty to defend under a provision in a commercial general liability (CGL) form is applicable to the insurance policy as a whole, the Court of Queen’s Bench of Alberta has ruled. In a decision released Friday, the court

News Earnings / RatingsInsuranceReinsurance

Why A.M. Best gave the global reinsurance segment a ‘stable’ outlook

December 6, 2018 by David Gambrill

CORRECTION: An earlier version of this story incorrectly stated that A.M. Best had changed its outlook for the global reinsurance sector from ‘Stable’ to ‘Negative.’ In fact, the outlook changed to ‘Stable’ from ‘Negative.’ Canadian Underwriter apologizes for the error.

News InsuranceRisk

How to grow in an era of new, intangible business risks

December 6, 2018 by David Gambrill

As business risks become more global, interconnected and less tangible, brokers and insurers should expand their dialogue with clients about loss mitigation or loss prevention, the chief executive of CNA Canada says. “An insurance policy today isn’t really enough,” CNA

News InsuranceMarkets / CoveragesTechnology

Why brokers need to talk about ransomware

November 28, 2018 by Jason Contant

Ransomware attacks are increasing, and as a result, there will likely be a shift in brokers and clients alike starting to recognize the value of the business interruption component of a cyber insurance policy, a specialist insurer said Monday. “Cybercrime