Claims
Seasonal businesses need the same risk coverage as year-round operations and busy small business owners should ensure they are appropriately protected as the summer season kicks into high gear, advises TruShield Insurance. Pointing out that small business owners are starved for time, “insurance is certainly not top of mind as they ramp up to take […]
By Canadian Underwriter | July 27, 2017
2 min read
Both net income attributable to common shareholders and operating net income for Bermuda-based XL Group Ltd. skyrocketed in 2017 Q2 compared to 2016 Q2, with the former increasing six-fold to US$301.6 million. Specifically, net income attributable to common shareholders amounted to US$301.6 million in 2017 Q2 compared to US$43.8 million in 2016 Q2, notes a […]
3 min read
ST. GEORGE, N.B. – Fire investigators say a mess of extension cords and power bars, as well as the failure of an electrical component, were likely to blame for a fire that killed a New Brunswick woman and her three adult sons in April. The bodies of Esther Boyd, who was in her 80s, and […]
By Jason Contant | July 26, 2017
BUFFALO NARROWS, Sask. – A northern Saskatchewan community is drying out after it was hit by what the province’s Water Security Agency calls a one-in-100-year rainstorm this week. Environment Canada says the area in and around Buffalo Narrows was pounded Monday by more than 112 millimetres of precipitation that came down in less than 24 […]
The premiums charged by British Columbia’s government-run monopoly provider of basic auto insurance are “not high enough” to cover claims, the system is not sustainable and the cost of the average minor bodily injury claim has risen well beyond the rate of inflation since 2000, Ernst & Young LLP said in a report commissioned by […]
By Canadian Underwriter | July 25, 2017
KAMLOOPS, B.C. – The British Columbia Cattlemen’s Association says wildfires have inflicted a terrible financial and emotional toll on its members. Association manager Kevin Boon says wildfires that broke out earlier this month in B.C.’s Cariboo and Chilcotin regions are estimated to have charred about 1,000 square kilometres of ranch land. He says cattle, fences, […]
By Jason Contant | July 25, 2017
1 min read
Changing climate patterns are putting additional strain on both power generation and transmission, and presenting another risk factor for natural disaster mitigation and recovery in North America’s Pacific Northwest region, suggests a new study from Swiss Re and the Johns Hopkins University School of Advanced International Studies. The report, titled Lights out: The risks of […]
Everest Re Group Ltd. reported Monday catastrophe losses, net of reinsurance, of $53.5 million in the three months ending June 30, with a 4.6-point improvement in its Q2 combined ratio to 90.5%. All figures are in United States dollars. Hamilton, Bermuda-based Everest Re’s combined ratio in the second quarter of 2016 was 95.1%, the company […]
TOKYO – An underwater robot captured images of solidified lava-like rocks Friday inside a damaged reactor at Japan’s crippled Fukushima nuclear plant, spotting for the first time what is believed to be nuclear fuel that melted six years ago. Plant operator Tokyo Electric Power Co. said the robot found large amounts of lava-like debris apparently […]
By Jason Contant | July 24, 2017
Law enforcement officers across Saskatchewan issued 88 tickets to new drivers and motorcyclists who weren’t following the requirements outlined on their licences, Saskatchewan Government Insurance (SGI) reported on Monday. The results from last month’s traffic safety spotlight on new drivers included 66 learner drivers who were caught for driving without a supervising driver; 20 tickets […]
By Canadian Underwriter | July 24, 2017
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