Claims
Allianz Group has recorded total revenues of 36.2 billion euros in the first quarter of 2017, up 2.5% from 35.4 billion euros in the same quarter last year. All segments contributed to the increase, Allianz said in a press release on Friday. Operating profit also grew by 9.4% to 2.9 billion euros, driven by strong […]
By Canadian Underwriter | May 12, 2017
3 min read
OTTAWA – As the devastating floodwaters recede in Ontario and Quebec, the key to preventing a similar disaster in future is to avoid making the mistakes that led to problems in the first place, says Public Safety Minister Ralph Goodale. The philosophy of “build back better” will be on the agenda when Goodale next meets […]
By Jason Contant | May 11, 2017
Medical professional liability insurers who retain cyber risk need to limit their exposure “through strong policy language,” A.M. Best Company Inc. warned in a report released Wednesday. The ability to “identify emerging risks in areas such as cyber security,” is, for medical professional liability carriers, a “key aspect” of strong enterprise risk management, A.M. Best […]
By Canadian Underwriter | May 11, 2017
6 min read
Persistent recent heavy rainfall falling across several Canadian provinces has led to increasingly rising rivers, streams and lakes this week, as communities “raced to protect from water inundation,” Impact Forecasting said on Thursday in an Aon cat alert. Financial losses are expected to reach well into the millions in U.S. dollars, but “it remains too […]
5 min read
Cyberattacks, natural disasters and supply chain failure are three of the most pressing risks to global business performance in the 21st century, according to the 2017 FM Global Resilience Index. The online, interactive annual index ranks 130 countries and territories by their enterprise resilience to disruptive events, commercial property insurer FM Global said in a […]
If an Ontario auto insurer uses a form that is not approved by the province’s Superintendent of Financial Services, this does not necessarily render the contract of insurance void, the province’s appeal court suggested in a ruling released Wednesday. On June 6, 2012, Rita and Cathy MacLeod were injured in a motor vehicle accident. They […]
By Canadian Underwriter | May 10, 2017
The Institute for Catastrophic Loss Reduction (ICLR) is holding a webinar on May 30 that will discuss a forecast of the 2017 hurricane season. Bob Robichaud, warning preparedness meteorologist for the Canadian Hurricane Centre, will be part of the interactive webinar that will summarize the current conditions in Canada and will provide a forecast for […]
1 min read
REGINA – Husky Energy is going to see how much more oil – if any – can be cleaned up from a major spill last July along the North Saskatchewan River. The company has started more shoreline cleanup and assessment of the leak, which spilled 225,000 litres of heavy oil mixed with diluent onto the […]
By Jason Contant | May 10, 2017
Group net income for Hannover Re contracted to 264.8 million euros in the first quarter of 2017, but was in line with the prior-year quarter’s exceptionally good results, positioning the reinsurer well for achieving its financial targets this year. Group net income – comprised of both p&c and life and health reinsurance business groups – […]
4 min read
OTTAWA – When municipal officials were told last year about new tools to help them map the risk of flooding in their communities, they immediately raised red flags, suggesting they wanted no part of it over concerns about legal liability and political backlash. Details contained in internal government reports echo a narrative across the country […]
By Jason Contant | May 9, 2017
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