Claims
DELTA, B.C. – Weather is not considered a factor in the cause of a wildfire at a unique peat bog in Delta, B.C., as crews contained about 60% of the blaze on Tuesday, the fire chief says. Dan Copeland said investigators arrived on the scene of the 78-hectare fire in Burns Bog on Tuesday morning […]
By Greg Meckbach | July 6, 2016
3 min read
XL Catlin will sponsor a new scientific survey to research the deep ocean, information from which will hopefully shed light on the potential impact of climate change and the risks that businesses, society and ecosystems will face in future. The XL Catlin Deep Ocean Survey – delivered by Nekton Mission in partnership with XL Catlin […]
By Canadian Underwriter | July 6, 2016
Starting Aug. 1, Transatlantic Reinsurance Company of New York City will act as exclusive underwriting manager for General Reinsurance Corporation’s property and casualty treaty reinsurance business — produced by brokers and intermediaries — in Canada and the United States. “This new arrangement provides brokers and intermediaries access to Gen Re’s traditionally direct-only capacity through a […]
By Canadian Underwriter | July 5, 2016
2 min read
BrokerLink will welcome 90-plus employees and increase the property and casualty insurance brokerage’s footprint to more than 75 locations in Ontario with the acquisition of Cornerstone Insurance Brokers Ltd. The terms of the transaction were not disclosed, notes a statement Tuesday from BrokerLink. One of the largest p&c brokerages in the country, BrokerLink announced the […]
BAGHDAD – As the death toll from the weekend truck bombing in Baghdad climbed to 157, Iraq’s embattled prime minister ordered new security measures, including abandoning the use of bomb-detection wands that U.S. experts pronounced worthless years ago. But security forces were still using the devices Monday evening, as a string of smaller bombings in […]
By Greg Meckbach | July 4, 2016
The Institute for Catastrophic Loss Reduction (ICLR) has scheduled a webinar, July 12, on its preliminary findings of the forensic investigation into the wildfire damage in Fort McMurray, Alberta. “As catastrophic as it was, this disaster presents opportunities for learning lessons that should prevent its repetition,” states ICLR, an industry association that provides information on […]
By Canadian Underwriter | July 4, 2016
1 min read
DELTA, B.C. – The Burns Bog fire southeast of Vancouver was 10 per cent contained Monday morning, with crews hoping to fully contain the flames by the end of the day. Chief Dan Copeland of the Delta Fire Department said the blaze is between 50 and 70 hectares in size, and 90 firefighters from a […]
By The Canadian Press | July 4, 2016
BEIJING – Three days of heavy rain in southern China have left 50 people dead and another 12 missing and destroyed thousands of homes, authorities said Sunday, as areas along the Yangtze River braced for more floods. Torrential rains caused the deaths of 27 people and left a further 12 missing since Thursday in central […]
Any indication of widespread reinsurance pricing stabilization remains elusive amidst an environment of continuing market softening in the June/July renewal season, lack of catastrophe losses and abundant capacity across virtually all classes and territories, notes a new report issued Friday by Willis Re. “It is increasingly apparent that the magnitude of rate reductions is slowing,” […]
Global insurance premium growth in 2015 was up to 3.8% in real terms compared to 3.5% in 2014, illustrating a steady performance, but bringing with it a mixed outlook, Swiss Re points out in its latest sigma report. Global premium written were US$4,554 billion in 2015, “which in nominal terms was 4.2% less than the […]
4 min read
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