Premiums drop 7.4% at Arch Capital
February 10, 2016 by Canadian UnderwriterInsurance carrier Arch Capital Group Ltd. reported Tuesday its financial results, reporting an 8.6% drop in underwriting income and a 1.2-point increase – to 88% – in its combined ratio. Hamilton, Bermuda-based Arch reported net premiums written of $3.35 billion…
Canadian commercial insurance prices in Q3 2015 show first decrease since Q3 2011: Willis Towers Watson survey
January 28, 2016 by Canadian UnderwriterCanadian commercial insurance prices in aggregate for the third quarter of 2015 have shown the first quarter of decrease since Q3 2011, according to the latest Willis Towers Watson (WTW) Commercial Lines Insurance Pricing Survey (CLIPS) – Canada. “Commercial insurance…
Signature Risk Partners acquires South Western Insurance Group’s golf insurance practice
January 14, 2016 by Canadian UnderwriterToronto-based Signature Risk Partners Inc. has announced that it has purchased the commercial golf club insurance program business from South Western Insurance Group Limited, which has offices in Toronto, Quebec and Vancouver. Signature announced the acquisition this week, noting that…
Commercial Umbrella
December 8, 2015 by rosemaryDates March 8 2016 City Toronto, Ontario, Canada Contact Name Tracey Blouin Local Phone 416-488-7422 Tollfree Phone 1-800-268-8845 Email tblouin@ibao.on.ca Website http://www.ibao.org/education/webinars/commercial-umbrella/ Main Body (2 Technical Hours) Attain information on the use, needs and coverage available for umbrella and excess…
Alberta judge issues temporary injunction against all Uber drivers in Calgary
November 23, 2015 by Canadian UnderwriterThe Court of Queen’s Bench of Alberta has issued a temporary injunction against drivers offering rides for a fee in Calgary using the Uber app. Justice G. H. Poelman issued the injunction to run until a full hearing on Dec.…
Grandisson next president of Arch Capital
November 11, 2015 by Canadian UnderwriterBermuda insurer Arch Capital Group Ltd. announced Wednesday it has promoted Marc Grandisson to the position of president and chief operating officer effective Jan. 1. Grandisson is currently chairman and chief executive officer of Arch Worldwide Reinsurance and Mortgage Groups.…
Arch reports growth in construction insurance business, increase in attritional large losses in reinsurance
October 29, 2015 by Canadian UnderwriterArch Capital Group Ltd. has reported a 2.2-point improvement in its Q3 insurance combined ratio and a 5.8-point deterioration in its reinsurance combined ratio, while Q3 gross written premiums increased 3.5% year over year. Hamilton, Bermuda-based Arch released Wednesday its…
The Path Forward
September 30, 2015 Craig Harris, Freelance WriterWith more “boots on the ground,” CIAA president Fred Plant says the time is right for a renewed commitment to the key issues facing front-line adjusters.
Moves and Views
August 1, 2015 by Canadian Underwriter1 Paul Taylor [1a] assumed duties as president and chief executive officer of Western Financial Group July 6. Taylor will oversee Western Financial’s network of insurance brokerages, as well as lead all company business units, including Western Financial Group Insurance…
Learning to Share
June 1, 2015 Craig Harris, Freelance WriterThe “sharing economy” of services like Uber and Airbnb represents a murky area for property and casualty insurance. Brokers, insurers and regulators in Canada have issued warnings about the gaps in coverage as the lines blur between personal and commercial usage of property and vehicles. The trench fighting about insurance deficiencies masks a bigger issue – the growing popularity of these unique shared economic services will require a new approach to risk and rate assessment.
Marketplace
May 1, 2015 by Canadian UnderwriterCANADIAN MARKET Zurich Canada launches drone insurance package Zurich Canada has launched a new drone insurance product that it maintains “closes an important coverage gap” for companies already making use of drones. Developed in partnership with Global Aerospace Underwriting Managers Limited…
Ports of Call
March 1, 2015 Thomas Ptacek, Senior Vice President, Marsh USA Inc.; and George Boire, Environmental Practice Leader, Marsh Canada LimitedWith the growth in oil traffic activity, environmental risks at ports and terminals are also on the rise. That said, a solid understanding of current conditions and potential risks can help with identifying what insurance solutions will help address and minimize any related loss.