Claims
Aon plc reported Tuesday its commercial risk solutions revenue of $984 million in the three months ending March 31, up 2% from $961 million during the same period in 2016, while net income, company wide, dropped 9% due in part to restructuring costs. All figures are in United States dollars. Aon reported May 9, 2017 […]
By Canadian Underwriter | May 9, 2017
2 min read
Flooding in multiple communities in southern Ontario and Quebec in April and into May is estimated to cost “well into the millions of dollars (USD)” in economic losses, Impact Forecasting said on Tuesday in its Global Catastrophe Recap report for April. Impact Forecasting, Aon Benfield’s catastrophe model development team, said in its recap report that […]
3 min read
The Supreme Court of Canada has dismissed an application from the City of Hamilton for leave to appeal a finding that a nine-year-old boy was not contributorily negligent after he was hit by a car at a location where a crossing guard is normally posted. Court records indicate that on May 14, 2002, shortly before […]
4 min read
Tropical Cyclone Debbie – the initial loss estimate for which PERILS AG puts at AU$1,116 million – “underpins the need for reliable natural catastrophe insurance data for Australia,” suggests Darryl Pidcock, head of PERILS Asia-Pacific. Debbie affected the Australian states of Queensland and New South Wales starting Mar. 28. “Debbie clearly exceeds our property market […]
Private property and casualty insurers in the United States suffered a US$4.7 billion net underwriting loss in 2016 following a US$8.9 billion net underwriting gain in 2015, according to ISO, a Verisk Analytics business, and the Property Casualty Insurers Association of America (PCI). The insurers also experienced a 25% drop in net income after taxes […]
By Canadian Underwriter | May 8, 2017
Berkshire Hathaway Inc. announced Friday it recorded insurance premiums earned of $21.7 billion during the three months ending March 31 – up 95% from $11.1 billion in Q1 2016 -while Cyclone Debbie affected the Omaha, Neb.-based firm’s underwriting result by more than $100 million in the most recent quarter. All figures are in United States […]
Areas in the south and central interior of British Columbia remain under evacuation alert or evacuation order after recent flooding events and there is potential for increased snowmelt and further precipitation and flooding next week, the provincial Ministry of Transportation and Infrastructure warned on Sunday. The ministry reported in a statement that disaster financial assistance […]
MONTREAL – Quebec’s public security minister is saying water levels across the province are expected to peak between today and Wednesday. Martin Coiteux says authorities expect the water to start receding by mid-week. Heavy rains and melting snowpack across Quebec have so far flooded 2,426 residences in the province, forcing the evacuation of 1,520 people […]
By The Canadian Press | May 8, 2017
Auto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was more than offset by higher underwriting losses, driven largely by increased spend on our strategic […]
TACOMA, Wash. – Officials with BNSF Railway say mudslides have forced the suspension of train traffic on a heavily travelled section of rails between Seattle, Washington, and Portland, Oregon. Gus Melonas, spokesman for the Burlington Northern and Santa Fe Railway, says early Friday that 10 slides just north of the Tacoma Narrows Bridge have halted […]
By Jason Contant | May 7, 2017
1 min read
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