Claims
Despite a low natural catastrophe-loss environment that helped SCOR’s Global Property and Casualty segment record strong technical profitability and a solid contribution from the Life segment for gross written premiums, the company’s net income fell slightly to 170 million euros in 2016 Q1 compared to 2015 Q1. Financial results issued Wednesday by SCOR, an independent […]
By Canadian Underwriter | April 27, 2016
3 min read
TORONTO – An eastern Ontario children’s aid society is facing a $75 million lawsuit after a cyber attack resulted in a list of client names being stolen and shared on local Facebook groups. At least three dozen people have expressed interest in taking part in the proposed class action against Family and Children’s Services of […]
By Canadian Underwriter | April 26, 2016
The Travelers Companies Inc. reported catastrophe losses of $318 million during the three months ending March 31, up 96% from $162 million during the same period in 2015, while Q1 earned premiums in personal insurance rose 6.2% year-over year. All figures are in United States dollars. In its financial results for the first quarter, released […]
4 min read
The Insurance Bureau of Canada (IBC) announced on Tuesday that it has launched the Provincial Auto Theft Network (PATNET) program in Newfoundland and Labrador. The two-day PATNET training session in St. John’s, Nfld., which has drawn interest from law enforcement officers from across the province, teaches participants new techniques to investigate vehicle-related crime, IBC said […]
2 min read
Aviva Canada has partnered with the Institute for Catastrophic Loss Reduction (ICLR) for the creation of a free emergency preparedness mobile app. The free Plan & Protect app, announced on Tuesday, can be downloaded to mobile devices, where users will receive personalized information to help them prepare for natural disasters, including severe weather and earthquakes, […]
Net income available to common shareholders of Everest Re Group Ltd. was US$171.7 million in the first quarter of 2016 compared to US$323.0 million in the same quarter of 2015, the company reported Monday. The after-tax operating income available to common shareholders for the first quarter of 2016 was US$222.7 million compared to $329.9 million […]
The Supreme Court of Canada recently announced it will not hear an appeal from a claimant over a decision, by the Saskatchewan Court of Appeal, which reduced $4.5 million in punitive damages against two insurance companies, in a lawsuit over a disputed claim arising from a foot injury. One precedent cited was the 2002 ruling, […]
By Canadian Underwriter | April 25, 2016
6 min read
Saskatchewan Government Insurance (SGI), the province’s self-sustaining auto insurance fund, said last week that a total of 374 people were ticketed for failing to wear a seatbelt or properly restrain children in vehicles during March’s traffic safety spotlight on occupant safety. SGI said in a press release that law enforcement officers across the province issued: […]
1 min read
Texas’s third major hail storm in less than a month on Apr. 11 could push the state’s damage so far this year to beyond the nine-year average of US$1.2 billion for the whole of the United States, notes a report issued Friday by A.M. Best. The Best’s Briefing states that insured losses from the first […]
FirstOnSite Restoration G.P. Inc. (the general partner of FirstOnSite Restoration L.P.), Canada’s largest independent disaster restoration services provider, announced on Thursday that it has reached a definitive asset purchase agreement with U.S.-based Interstate Restoration LLC. Under the agreement, subject to court approval, Interstate Restoration will acquire FirstOnSite. The terms of the agreement were not disclosed. […]
By Canadian Underwriter | April 22, 2016
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