Claims
Sompo Canopius AG, a global specialty lines platform of Sompo Japan Nipponkoa Holdings Inc., announced on Thursday that it has partnered with catastrophe modelling marketing firm Risk Management Solutions (RMS) and six other (re)insurers for the specification and build of what it calls the world’s first marine cat model. As joint development partner since 2015, […]
By Canadian Underwriter | April 1, 2016
2 min read
Beazley announced Thursday it has launched its flagship breach response product in Canada, which protects the personal data of as many as five million individuals per breach. “Canada’s Digital Privacy Act, passed in 2015, will soon impose additional obligations on companies to notify individuals when their data has been breached,” notes a statement from the […]
TULSA, Okla. – At least seven people were injured after severe storms spawned multiple tornado touchdowns in northeastern Oklahoma, damaging homes and businesses, authorities said. National Weather Service meteorologist Amy Jankowski said a tornado touched down and lifted up numerous times Wednesday night as it swept through the northern Tulsa and Owasso areas. About one […]
By Jason Contant | March 31, 2016
3 min read
NEW YORK – General Electric Co. asked the U.S. government to drop the “too big to fail” tag for GE Capital, saying that its financing operations are a shadow of what they were when the Federal Reserve placed it under strict oversight in the aftermath of the global economic crisis almost a decade ago. The […]
By Greg Meckbach | March 31, 2016
The Government of Canada announced on Wednesday that it has successfully tested drones to assess its potential to support icebreaking operations. The Canadian Coast Guard (CCG), Transport Canada, the National Research Council and the Royal Canadian Navy said in a joint press release that they flew an unmanned aerial vehicle (UAV), commonly known as a […]
By Canadian Underwriter | March 30, 2016
For the second year in a row, Canada had “few natural disasters” in 2015, while the Aug. 12 explosions arising from sodium cyanide in the Chinese port of Tianjin shows that insurers need “more risk mapping in aggregation points,” Swiss Re Ltd. said in a report released Wednesday. There were 353 disaster events in 2015, […]
5 min read
Insurance Bureau of Canada (IBC) has announced the intellectual property rights for its municipal risk assessment tool (MRAT) – a made-in-Canada solution to help communities be more resilient and adaptable to climate change – is being transferred to Tesera Systems Inc. Tesera will assume ownership and operation of MRAT effective Apr. 1, IBC reports in […]
OTTAWA – Uber Canada is launching a campaign to gain public support as Ottawa city council prepares for a vote on ride-booking services on April 13. The company has been operating in Ottawa since October 2014 and says it wants Ottawa’s citizens to share their stories about the service. It has set up the website […]
By The Canadian Press | March 30, 2016
1 min read
Windstorm Mike-Niklas, which affected parts of western and central Europe from March 29 to April 1, caused an estimated property market loss of 816 million euros, PERILS AG said on Tuesday. The fourth and final loss estimate for the windstorm, compares to the third loss estimate of 826 million euros, issued on Sept. 29, 2015. […]
By Canadian Underwriter | March 29, 2016
EDMONTON – New research suggests that hydraulic fracking of oil and gas wells is behind earthquakes caused by humans in Western Canada. A study, published Tuesday by a group of top Canadian researchers, says problems in Alberta and British Columbia aren’t being caused by injecting waste water underground. It’s a major step in understanding seismic […]
By Jason Contant | March 29, 2016
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