Claims
Organizations representing the actuarial profession in Canada and the United States have launched the Actuaries Climate Index (ACI), a quarterly measure of changes in extreme weather events and sea levels. The ACI, available online at ActuariesClimateIndex.org, is an educational tool designed to help inform actuaries, public policymakers and the general public about climate trends and […]
By Canadian Underwriter | November 30, 2016
3 min read
Auto collisions claims among Allstate Insurance Company of Canada customers in four provinces rose 1.7% over the previous study period, reflecting increases in some jurisdictions and decreases in others. Results of the eighth annual Allstate Canada Safe Driving Study show the uptick in claims is in line with the national collision frequency rate increasing from […]
4 min read
Possible tornadoes swept through parts of Alabama and Tennessee overnight, killing five people and injuring more than a dozen as heavy rains from storms moving across the South produced flooding in areas previously suffering from months of drought. Possible tornadoes were reported across several counties in northern Alabama and southern Tennessee, National Weather Service meteorologist […]
By Jason Contant | November 30, 2016
2 min read
PIGEON FORGE, Tenn. – Wildfires fueled by high winds roared through parts of the Great Smoky Mountains, burning the doorstep of the Dollywood theme park, destroying a resort and chasing thousands of people from their homes. National Guard troops arrived Tuesday to help overwhelmed firefighters, and Mother Nature provided a little relief as the winds […]
By Jason Contant | November 29, 2016
The Consumer Technology Association (CTA) in the United States is calling the National Highway Traffic Safety Administration’s (NHTSA) proposed guidelines on driver distraction from electronic devices “disturbing” and “regulatory overreach.” Last Wednesday, the NHTSA released the second phase of voluntary guidelines to address driver distraction on U.S. roads. The proposed guidelines were designed to encourage […]
By Canadian Underwriter | November 29, 2016
A.M. Best has increased its estimate for losses that property and casualty insurers in the United States can ultimately expect from third-party liability asbestos claims to US$100 billion. The new figure – included in a new report issued Monday – represents an 18% increase over the former estimate, A.M. Best reports in a statement. “The […]
An insurer in Quebec can assert litigation privilege when the province’s self-regulating body for agents, brokers and claims adjusters demands a copy of an entire file on a claim, the Supreme Court of Canada suggested in a ruling released this past Friday. The Supreme Court of Canada ruled against Chambre de l’assurance de dommages (ChAD), […]
By Canadian Underwriter | November 28, 2016
5 min read
Extreme weather events can be modelled as “independent” by global reinsurers when assessing many of their key aggregate risks around the world, confirmed a new report from Lloyd’s, the world’s only specialist insurance and reinsurance market, and the Met Office, the United Kingdom’s national meteorological service. Released late last week, the report, titled The risk […]
New and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing trend toward seeking punitive and personal legal action against executives for failure to follow regulations […]
6 min read
The Government of Canada announced on Friday that it will consult with provinces and territories, Indigenous peoples, industries and non-governmental organizations to develop a clean fuel standard. The standard would require reductions in the carbon footprints of the fuels supplied in Canada, based on lifecycle analysis, Environment and Climate Change Canada said in a backgrounder. […]
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