Claims
Climate change is likely to threaten countries’ economic and national security, according to a 360º report from Lloyd’s. This will spark growing tension between states, as competition heats up for increasingly scarce natural resources — food, water and energy, according to Climate Change and Security: Risks and Opportunities for Business. “As climate change takes hold, […]
By Canadian Underwriter | April 28, 2009
2 min read
The World Health Organization (WHO) has raised the level of influenza pandemic alert from the current Phase 3 to Phase 4, indicating the likelihood of a pandemic has increased but is not inevitable.The WHO committee issued the notice after considering available data on confirmed outbreaks of A/H1N1 swine influenza in the United States of America, […]
1 min read
Risk managers need to familiarize themselves with “high-authority bloggers” tracking their industries if they are to better guard themselves against reputation risk in the Internet age, delegates of the Risk and Insurance Management Society’s 2009 Conference heard.Richard Levick, president and CEO of Levick Strategic Communications, defined a high-authority blogger as “just someone who blogs but […]
By Canadian Underwriter | April 22, 2009
A funny thing has happened on the way to the much-anticipated hard insurance market in the United States — ongoing rate competition, says the Spring 2009 edition of Willis Marketplace Realities. “If the financial crisis of 2008 was a Category 5 storm, the impact on the insurance marketplace has been closer to Category 1 intensity,” […]
Auto accident claims for housekeeping and home maintenance expenses in Ontario are not subject to the province’s legislative threshold that restricts payments only to those claimants who suffer from “serious and permanent” impairments, the Ontario Superior Court of Justice has ruled in Sabourin v. Dominion of Canada General Insurance.Although the province’s Insurance Act does protect […]
By Canadian Underwriter | April 16, 2009
2008 was the worst year for catastrophe losses stemming from U.S.-based tornadoes, as well as among the worst years on record for the frequency of tornadoes, reports A.M. Best Company Inc.In its special report, Another Year, Another Record: Tornado Threat Keeps Escalating, A.M. Best notes preliminary figures that show 1,691 tornadoes touched down in the […]
By Canadian Underwriter | April 13, 2009
The Association of Professional Insurance Women selected Janice Tomlinson as 2009’s ‘Insurance Woman of the Year.’Tomlinson is executive vice president and international field operations manager for the Chubb Group of Insurance Companies. Prior to this position, she served as the chairman and president of Chubb’s Canadian business operations from 1995 to 2003.The annual APIW Insurance […]
By Canadian Underwriter | April 7, 2009
Despite outlining 643 insurance-related activities addressing climate change in the United States and abroad, the U.S. national investor coalition Ceres says the response of insurance companies to climate change still doesn’t match the urgency of the risks associated with the issue.Ceres is a U.S. coalition of investors and environmental groups that commissioned the report, From […]
By Canadian Underwriter | April 6, 2009
Pricing in the global property catastrophe reinsurance market generally continues to firm, according to Aon Benfield’s Apr. 1, 2009 update to its Reinsurance Market Outlook report.”In the regions where reinsurers have higher accumulations — such as Japan, Europe and the U.S. — naturally, rates have increased more significantly than outside of peak zones and accumulations,” […]
By Canadian Underwriter | April 1, 2009
The reinsurance market stands as the only capital market operating smoothly, with buyers still able to access large quantities of contingent capital, according to a Willis Re report. Reinsurers reported poor investment results for 2008. At the same time, a majority of reinsurers were able to produce some underwriting profit, resulting in overall positive results, […]
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