Claims
Intact Financial Corporation reports that its net income for the 2015 Q4 fell 3% to $198 million compared to 2014 Q4, while full-year net income decreased 10% year-over-year. Figures released Tuesday by the company indicate net income for the fourth quarter of 2015 was $198 million compared to $205 million for the same quarter of […]
By Canadian Underwriter | February 10, 2016
3 min read
2015 was the quietest Canadian catastrophe year since PCS Canada launched in 2010, with insured losses from three cat events reaching about $510 million, according to Property Claims Services’ (PCS) full-year cat review, released on Wednesday. PCS, a division of Verisk Analytics, designated three cat events in Canada in 2015, down from five in 2014. […]
2 min read
WASHINGTON – The Obama administration is creating a new high-level federal official to co-ordinate cybersecurity across civilian agencies and to work with military and intelligence counterparts, as part of its 2017 budget proposal announced Tuesday. The $19-billion increase in cybersecurity funding across all government agencies – up more than from 35 per cent from last […]
By Canadian Underwriter | February 9, 2016
The weather patterns that typically bring moisture to the southwestern United States are becoming more rare, an indication that the region is sliding into the drier climate state predicted by global models, suggested a recent study. “A normal year in the Southwest is now drier than it once was,” said Andreas Prein, a postdoctoral researcher […]
4 min read
A powerful winter storm in the eastern United States during the second half of January is estimated to cost US$2 billion in economic losses, according to Aon Benfield’s catastrophe model development team. The storm brought heavy snowfall, high winds, coastal flooding, freezing rain, ice, sleet and severe thunderstorms to the eastern U.S. during the second […]
The Toronto-based Centre for Study of Insurance Operations (CSIO) has released a new legal advisory report to support the broker channel in adopting eSlips, electronic proof of auto insurance in place of traditional paper pink slips. Commissioned by Fasken Martineau LLP, the report, titled eSlips: E-Delivery of Motor Vehicle Insurance Liability Cards, provides an overview […]
Integro Ltd. has introduced exclusive professional liability/errors & omissions insurance coverage to help protect healthcare institutions with self-insured professional liability programs from claims-handling exposures inherent in adjusting medical malpractice claims. The coverage – underwritten by London-based Cove Program Underwriters – has limits of up to $5 million in the aggregate, notes a joint release Monday […]
HALIFAX – It was a familiar story Monday in Atlantic Canada as a nasty storm grounded flights and prompted schools, shops, offices – and even a ski hill – to shut early. Nova Scotia was expected bear the brunt of the storm – the third to hit the East Coast in just over a week […]
By The Canadian Press | February 8, 2016
The National Oceanic and Atmospheric Administration (NOAA) announced on Friday that its scientists and partners have embarked on an “unprecedented” effort to study how the current El Niño affects weather systems. The scientists and partners began a land, sea and air campaign in the tropical Pacific to study the current El Niño and gather data […]
By Canadian Underwriter | February 8, 2016
EDMONTON – Cab drivers in Edmonton protested for months at city hall, some of them pulling off their shirts, as councillors debated whether to pass a new bylaw legalizing ride-sharing companies such as Uber. As similar revolts played out across Canada, the Alberta capital sped ahead late last month and became the first jurisdiction to […]
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