Claims
The fourth and final insured property market loss estimate flowing from U.K. flooding in the wake of storm Desmond in late 2015 is £604 million, reports PERILS AG. Desmond and other low-pressure systems caused effects over a three-week period from Dec. 4 to 24 in 2015, notes a statement Friday from PERILS, the independent Zurich- […]
By Canadian Underwriter | December 5, 2016
2 min read
With holiday season fast approaching, a surge in online shopping cannot be far behind. But with online shopping comes increased risk of security breaches and fraud. Combining behavioural analytics, passive biometrics and traditional verification solutions could go a long way towards keeping those risks under wraps.
By Robert Capps, Vice President of Business Development, NuData Security | December 2, 2016
6 min read
GATLINBURG, Tenn. – A couple from Canada is among the victims of a wildfire that ravaged the Smoky Mountains resort city of Gatlinburg, Tennessee. Authorities say 71-year-old Jon Tegler and 70-year-old Janet Tegler are among 13 people who have died as a result of the fires. The dead also included a Memphis couple who was […]
By The Canadian Press | December 2, 2016
Organizations undertaking activities with high risk of pollution in Ontario are often not required to provide financial security to ensure funds are available later for clean-up costs, the province’s auditor general warned in her annual report released Wednesday. Meanwhile, the province will need to spend more than $35 million over the next 30 years to […]
By Canadian Underwriter | December 1, 2016
4 min read
The first above-normal Atlantic hurricane season since 2012 has produced five landfalling storms in the United States, the National Oceanic and Atmospheric Administration (NOAA) said on Wednesday. The Atlantic, eastern Pacific and central Pacific 2016 hurricane seasons ended on Nov. 30, with NOAA scientists noting in a statement that all three regions saw above-normal seasons. […]
3 min read
The role of capital markets in alternative risk transfer within the property and casualty insurance industry is not new. However, the development of sophisticated financial instruments continues to expand, with resilience bonds being the latest arrival in the catastrophic risk market.
By Sean van Zyl, Freelance Writer | December 1, 2016
7 min read
Canada has no authoritative legal decision on parental waivers, which has created uncertainty over whether or not a properly drafted and duly executed waiver will serve as a complete bar to a claim. A New Brunswick case offers alternatives that might be employed until that gap in the law is filled, but businesses and insurers alike must factor into their liability risk analysis that parental waivers are unlikely to be enforceable.
By Peter Vlaar, Associate Lawyer; David Olevson, Associate Lawyer; and Sabrina Lucibello, Partner, McCague Borlack LLP | December 1, 2016
FREDERICTON, N.B. – New Brunswickers are bracing for another round of messy, wet weather while thousands of residents are still without power following a storm earlier in the week. Environment Canada issued snowfall and flood warnings for much of the province, saying central and northern parts of New Brunswick could expect up to 25 cm […]
By The Canadian Press | December 1, 2016
1 min read
WASHINGTON – The rate of earthquakes in Oklahoma has dropped dramatically since late May, when the state limited wastewater injections into energy wells, an Associated Press statistical analysis shows. And a new scientific study says the state is on its way back to calmer times that prevailed before a huge jump in man-made quakes. For […]
By Jason Contant | November 30, 2016
A Supreme Court of Canada ruling released in July has “huge ramifications” for employers in the trucking industry, while a more recent decision provides guidance on interpreting standard-form contracts, a lawyer suggested Tuesday to insurance professional in Toronto. In its ruling in Wilson v. Atomic Energy of Canada Ltd., Canada’s highest court “held that federally-regulated […]
By Canadian Underwriter | November 30, 2016
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