Claims
Zurich Insurance Group has become that latest insurer to estimate the impact of Hurricanes Harvey, Irma and Maria on its book of business. Zurich said in a press release on Thursday that it currently estimates aggregate claims in the third quarter of 2017 related to Hurricanes Harvey, Irma and Maria, for the Group’s Property & […]
By Canadian Underwriter | October 19, 2017
3 min read
There is a possibility that a third-party claim against a door installation company – whose subcontractor was injured on the job and was not covered by the Alberta Workers’ Compensation Board – falls under a commercial general liability policy, a court ruled recently. Creative Door Services Ltd. had a contract in 2009 to supply and […]
4 min read
The lion’s share of polled Quebecers remain unprepared for an earthquake, with a mere 8% of respondents understanding the immediate protective measures that should be taken in the event of a quake, Insurance Bureau of Canada (IBC) reports. The concerning finding – one that has proved persistent in Quebec – is among those included in […]
2 min read
Residents in the Crowsnest Pass are still without power after a wind-whipped fire that forced about 150 people living in the town of Coleman from their homes. The blaze in the Alberta mountain community was one of several driven by strong winds that threatened towns and forced evacuations in southern Alberta and Saskatchewan on Tuesday. […]
By Jason Contant | October 18, 2017
With analysts estimating catastrophe losses exceeding $100 billion to the property & casualty insurance industry in 2017, a law firm suggested Wednesday there is a risk disputes over reinstatement of reinsurance coverage and erosion limits, between North American insurers and reinsurers. “After what is likely to be the costliest year for natural and man-made catastrophes […]
By Canadian Underwriter | October 18, 2017
While residents of Mendocino County have been allowed to return home after deadly wildfires destroyed property in California, AIR Worldwide is warning the situation “remains extremely volatile” in the region. As winds moderated on Sunday, “firefighters were able to make progress toward containing the 15 large wildfires active across California,” stated AIR Worldwide, a catastrophe […]
By Canadian Underwriter | October 17, 2017
Now available from Frank Cowan Company is a new suite of products designed to help municipalities and public services organizations address the terrorism risk they face and transfer some of that risk via the insurance product. Partnering with XL Catlin Syndicate 2003 at Lloyd’s – which writes a full range of property, casualty, marine, aviation […]
The catastrophe loss ratio, over 10 years, was 10 points lower than the modeled expected cat loss ratio in homeowners’ insurance in the United States, Aon plc suggested in a report released Monday. Aon Benfield Analytics released Monday its annual Homeowners’ ROE Outlook report, which includes a map depicting 10 years’ loss experience versus the […]
By Canadian Underwriter | October 16, 2017
Transporters of liquid petroleum products in British Columbia now will need to have provincial plans in place to manage a spill, the province’s Ministry of Environment and Climate Change Strategy announced on Friday. The new regulations requiring spill preparedness apply to pipelines, as well as rail and trucking operations transporting more than 10,000 litres. The […]
The above-average activity for the Atlantic hurricanes season so far – a season that is not yet done – is already a capital event for p&c reinsurers and the remainder plus wildfire activity likely only contributes to nervousness, S&P Global Ratings reports. While property and casualty insurers are weathering the devastation wrought by hurricanes Harvey, […]
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