Claims
Insured losses from Tropical Cyclone Debbie have reached nearly AU$1 billion as of June 28, the Insurance Council of Australia (ICA) said on Thursday. As of June 28, insurers had received more than 58,000 claims stretching from North Queensland to northern New South Wales, with a value of AU$988 million, ICA said in a statement. […]
By Canadian Underwriter | June 30, 2017
2 min read
One-quarter of monitored vehicles during a recent speed awareness campaign in Manitoba were exceeding the posted speed limit, Manitoba Public Insurance (MPI) reported earlier this week. Findings from the campaign, which ran from May 1-6, revealed that 25% of the 9,400 vehicles were exceeding the posted speed limit, MPI said in a press release. In […]
Insurance professionals who are implementing data analytics need to focus on what they want to achieve and need to deliver value quickly to senior business leaders, a Travelers Canada executive suggested Thursday at the Insurance Analytics Canada Summit. “The focus of Travelers has been to really simplify our approach to analytics and it’s all about […]
By Jason Contant | June 29, 2017
Toronto’s mayor says the cost of fixing the damage done to the city’s shorelines and the Toronto Islands by high water levels on Lake Ontario this summer will run to many millions of dollars. But John Tory warns the full cost won’t be known until the lake waters fully recede. A city report released this […]
TORONTO – A portion of Toronto’s waterfront is set to undergo a nearly $1.2 billion flood protection project that will lead to a makeover of the area. Prime Minister Justin Trudeau, Ontario Premier Kathleen Wynne and Mayor John Tory announced the Toronto Port Lands Flood Protection project at a joint news conference today. Trudeau says […]
By The Canadian Press | June 28, 2017
1 min read
SALT LAKE CITY – Utah firefighters braced Wednesday for more high winds as they try to slow a stubborn wildfire that has burned 13 homes and forced the evacuation of 1,500 people from a ski resort town. Firefighters hope to put areas with intense blazes at the fire’s southern end so residents can return to […]
By Canadian Underwriter | June 28, 2017
The Canadian Council of Insurance Regulators (CCIR) has published its strategic plan for 2017-2020, which focuses its efforts on cooperative supervisory activities, fair treatment of consumers, risks and coverages related to nat cats, and a cooperative approach to financial services and insurance technology. In developing its plan, released on Tuesday, the CCIR considered input from […]
A potential solution to overland flood risk in Canada “could follow” the model of Britain’s Flood Re, MSA Research Inc. suggested in a report released Monday to Canadian Underwriter. Toronto-based MSA released its Quarterly Outlook Report for Q1 2017. In the report, MSA noted the combined ratio for the Canadian property and casualty insurance industry […]
By Canadian Underwriter | June 27, 2017
3 min read
JOHN’S, N.L. – A massive, fast-moving fire at a public housing complex has forced about 35 people out of their homes in a blaze that sent large plumes of smoke billowing above St. John’s, N.L. Fire platoon Chief Brian Tucker said Tuesday they were called to the Newfoundland and Labrador Housing Authority apartment units on […]
By Jason Contant | June 27, 2017
Ontario’s Municipality of North Perth, Perth County Ontario Provincial Police (OPP) and Trillium Mutual Insurance have joined resources to help reduce auto thefts in the area. The Municipality of North Perth, located west of Toronto, said in a press release on Monday that last year, Perth County OPP responded to 67 separate incidents of auto […]
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