Claims
Provisional calculations indicate Munich Re will post a consolidated result of 3.1 billion euros for 2015, down just slightly from what was regarded as the very good result of 3.2 billion euros in 2014. Provisional calculations show that in the fourth quarter of 2015, the Group posted a profit of 0.7 billion euros compared to […]
By Canadian Underwriter | February 8, 2016
4 min read
TAINAN, Taiwan – Rescuers were searching late Saturday for more than 100 people still missing after a powerful, shallow earthquake struck southern Taiwan before dawn, causing a high-rise residential building to collapse and killing at least 14 people. Nearly 340 people were rescued from the rubble in Tainan, the city hit worst by the quake. […]
By Canadian Underwriter | February 6, 2016
EDMONTON – The Alberta government is adding another plank to its climate-change platform by providing more than $5.5 million to help farms and municipalities install solar panels. “This is just the beginning,” Environment Minister Shannon Phillips said Friday. “By investing now in proven programs we will be better prepared to ramp up our efforts as […]
By Canadian Underwriter | February 5, 2016
2 min read
PERILS AG has said that the initial estimate of the insured property market loss for the flood damage related to storms Eva and Frank in the United Kingdom is 526 million pounds. PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data, disclosed on Friday its first loss estimate for the floods resulting from storms […]
Insurance adjusters cannot always rely on legal precedents, now that the Court of Appeal for Ontario has overturned a previous decision by the same court, over the issue of a vehicle owner’s vicarious liability for negligent operation of their vehicle, a lawyer suggested to claims professionals Wednesday. Litigation lawyer Ian Gold, a founding partner of […]
By Canadian Underwriter | February 4, 2016
The Institute for Catastrophic Loss Reduction (ICLR) will host its next Friday Forum on Feb. 19 on the topic of reducing flood risk in Toronto. The workshop will be held from 10 a.m. to 11:30 a.m. in the ICLR boardroom at 20 Richmond St. E., Suite 210, in Toronto. Participants can attend in person or […]
JACKSON, Miss. – Tornadoes touched down in Mississippi and Alabama as thunderstorms swept through the area Tuesday, while a powerful snowstorm buried parts of Colorado and Nebraska in more than a foot of snow before crawling into the Upper Midwest. Greg Flynn, spokesman for the Mississippi Emergency Management Agency, said a confirmed tornado was reported […]
By Canadian Underwriter | February 3, 2016
3 min read
The flooding in southern Alberta in 2013 has better prepared claims executives for another major catastrophe, speakers suggested on Tuesday at the inaugural Canadian Catastrophe Conference. “You think you are ready, but you’re never quite ready for what was to unfold,” Mathieu Lamy, senior vice president of claims at Intact Financial Corp., said at the […]
A Supreme Court of Canada ruling this past April means Ontario insurance adjusters need to examine all auto accident benefit claims they receive, even if their companies are not involved, an insurance lawyer suggested Wednesday. “If you get an OCF 1 and you are an auto insurer of any kind in Ontario, you have got […]
One of the insurance industry’s biggest challenges on the underwriting side is “how to effectively and profitably transfer cyber risk with respect to machine-to-machine technology,” so-called Internet of Things, Brian Rosenbaum, national director of the Legal and Research Practice at Aon Risk Solutions, said Tuesday during an industry event. “I really can’t overestimate how significant […]
5 min read
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