DETROIT – The Volkswagen executive who once was in charge of complying with U.S. emissions regulations was arrested during the weekend in Florida and accused of deceiving federal regulators about the use of special software that cheated on emissions tests.…
Berkshire Hathaway Specialty Insurance (BHSI) announced on Tuesday that it is introducing inland and ocean marine insurance in Canada. John Evans, vice president of marine with BHSI, said in a press release that with Gord Rider, who was named senior…
XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net…
The United States experienced 15 “weather and climate disasters” last year – each with losses exceeding US$1 billion – for a total of US$46 billion, the National Oceanic and Atmospheric Administration (NOAA) reported on Monday. The disasters, which included eight…
Using carpooling options from companies like Uber and Lyft could reduce the number of vehicles on the road in the New York City by a factor of three without significantly impacting travel time, according to a new study from the…
While consumers in the United States are excited by the progression toward “connected living,” they are also concerned about identity theft, cyberattacks and privacy issues, according to a new report from Assurant, Inc., a global provider of risk management solutions.…
Canadian risk has begun to feature “fairly prominently” in the catastrophe bond market, with three cat bonds issued last year, according to Property Claim Services’ (PCS) full-year cat bond report for 2016. The report, titled Strong Finish: PCS FY2016 Catastrophe…
Although the issue of sustainability in insurance is a relatively new concept in Canada, it is one that is gaining ground throughout the world, a speaker said on Wednesday at KPMG’s 25th Annual Insurance Conference. Houston Cheng, consulting actuary and…
Small-medium businesses (SMBs) with less than 10 employees – or nearly 80% of all firms in the United States – have “significantly negative views of insurers and employee benefits providers, creating an opportunity for new, innovative business models, products and…
ATLANTA – Recent showers and storms across much of the South have eased the severe drought in the region, but experts say it wasn’t enough to make up for months of dry conditions before the rain finally fell. More rain…
The coming year is expected to witness evolving technology that introduces new cyber threats and attacks that broaden and differentiate to penetrate new vulnerable surfaces, suggests a report issued Wednesday by Trend Micro Incorporated. The expectation is 2017 “will include…
Fitch Ratings expects insurance broker earnings and revenue south of the border to likely to modestly improve in 2017 compared to the first nine months of 2016. “In 2017, Fitch expects brokers will continue to supplement organic revenue growth through…