Claims
Canada’s property and casualty insurance industry must look farther ahead in its strategic planning than it may be used to ensure it fully grasps developing conditions and can address related changes, Philip Cook, CEO of Omega Insurance Holdings Inc., suggested during his Industry Trends and Predictions: 2017 presentation Wednesday. Long-term strategic planning and thinking for […]
By Angela Stelmakowich | January 12, 2017
3 min read
Anticipated less-than-stellar financial results for Canada’s property and casualty industry in 2016 will likely contribute to the market becoming less attractive to investors and absent significant improvement, it is unlikely the current level of capital will remain in the country, Philip Cook suggested Wednesday during an industry event in Toronto. “It has not been a […]
4 min read
SAN FRANCISCO – A small tornado was whipped up as part of a powerful band of thunderstorms that moved through Northern California during the latest deluge that has downed trees, swollen rivers and prompted evacuations over flood fears. The tornado was on the ground for about 3/8 of a mile just south of Sacramento, tearing […]
By Canadian Underwriter | January 11, 2017
Roughly one in three targeted cyberattacks over the past year resulted in an actual security breach for Canadian companies, according to a new survey from global professional services company Accenture. Despite these breaches – which equate to three effective attacks per month for the average Canadian company – about two-thirds of Canadians surveyed are confident […]
DETROIT – The Volkswagen executive who once was in charge of complying with U.S. emissions regulations was arrested during the weekend in Florida and accused of deceiving federal regulators about the use of special software that cheated on emissions tests. Oliver Schmidt, who was general manager of the engineering and environmental office for VW of […]
By Jason Contant | January 10, 2017
The federal government has provided a five-year $46.6 million investment to the University of Victoria’s (UVic) Ocean Networks Canada (ONC) to support its continued research and development. ONC pioneers ocean observatories that stream live data 24/7 to researchers across Canada and across the world to study everything from ocean change and fish abundance to plate […]
By Canadian Underwriter | January 10, 2017
2 min read
XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net of reinsurance and reinstatement premiums and is split approximately US$125 million in the Insurance segment […]
The merger of CMW Insurance Services Ltd. and Capri Insurance Services Ltd. creates one of the largest independent, employee-owned insurance brokerages and risk management firms in Western Canada, the companies reported Monday. Effective Jan. 1, 2017, “the merger leverages the strength and stability of a combined 63 years of insurance and risk management experience, adding […]
FORESTVILLE, Calif. – A massive storm system stretching from California into Nevada lifted rivers climbing out of their banks, flooded vineyards and forced people to evacuate after warnings that hillsides parched by wildfires could give way to mudslides. Northern California’s Russian River rose to its highest level since 2006, and schools and roads were closed […]
By Jason Contant | January 9, 2017
The Supreme Court of Canada is scheduled to announce Thursday whether it will hear an appeal over the question of whether the restriction, in a provincial workers’ compensation plan against suing employers, also applies to federal workers subject to the Government Employees Compensation Act. Court records indicate that federal employee Linda Hill was injured in […]
By Canadian Underwriter | January 9, 2017
6 min read
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