Claims
Commercial insurance buyers in North America are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most “active and financially disruptive hurricane seasons in history,” according to Willis Towers Watson’s (WTW) 2018 Marketplace Realities report. Published on Monday, the report serves as a guide […]
By Canadian Underwriter | November 7, 2017
4 min read
The Institute for Catastrophic Loss Reduction (ICLR) will soon be hosting its final Friday Forum of the year, focusing on Hurricane Irma and impacted homes in Florida. The webinar – Hurricane Irma Damage Assessment: Investigating the performance of Florida’s homes during Hurricane Irma – will be held on Nov. 17 from 10 a.m. to 11:30 […]
2 min read
It is still “early days” for most insurers in Canada when it comes to employing artificial intelligence (AI), but exploration and use of the techniques is accelerating very quickly, Greg McCutcheon suggested Monday during InsurTechTO in downtown Toronto. “I would say the majority of insurers are still within the incubator and R&D mode, to a […]
By Angela Stelmakowich | November 7, 2017
5 min read
Police in Saskatchewan will be looking for people driving with suspended licences and those driving vehicles that don’t have current plates as part of November’s traffic safety spotlight, Saskatchewan Government Insurance (SGI) announced on Friday. Provincial police will be helped by automated licence plate readers (ALPRs), which make it easier for them to “quickly and […]
International insurance transactions can be significantly accelerated and simplified, suggests a trial by Allianz Global Corporate & Specialty (AGCS) involving the successful implementation of a blockchain prototype for the captive insurance market. “We are currently seeing many blockchain applications in the financial services industry and are eager to explore the potential of this exciting technology […]
3 min read
SAN FRANCISCO – California Gov. Jerry Brown and lawmakers asked the U.S. government Friday for $7.4 billion to help rebuild after a cluster of fires tore through the heart of wine country, killing more than 40 people and leaving thousands without housing. In a letter to the White House, Brown joined California’s two U.S. senators […]
By Jason Contant | November 6, 2017
The Government of British Columbia’s Ministry of Attorney General announced on Monday that it will work to designate distracted driving as a high-risk driving behaviour under the Insurance Corporation of British Columbia’s (ICBC) Driver Risk Premium program. This means a driver with two distracted driving tickets in a three-year period will see their total financial […]
By Canadian Underwriter | November 6, 2017
Omaha, Nebraska-based Berkshire Hathaway Inc. has reported net earnings attributable to shareholders of US$4.1 billion for the third quarter of 2017 ending Sept. 30, down from US$7.2 billion in Q3 2016. For the first nine months of the year, net earnings attributable to shareholders were US$12.4 billion, down from US$17.8 billion in 9M 2016, Berkshire […]
Despite the Lac-Mégantic train derailment in July 2013 that claimed the lives of 47 people, destroyed more than 30 buildings and released about 6.3 million litres of oil into the environment, “moving any type of dangerous product by rail continues to be a very popular endeavour,” a speaker said last week at the Canadian Risk […]
The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of 2017 includes “an impact of 8.1 percentage points related to strategic investments in our personal […]
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