Claims
Canada’s Department of Finance has issued the long-awaited final rules governing federally regulated mutual property and casualty insurance companies, a move welcomed by Economical Insurance, which has been readying its business for the demutalization option over the last few years. The Mutual Property and Casualty Insurance Company with Non-mutual Policyholders Conversion Regulations were finalized and […]
By Canadian Underwriter | July 1, 2015
7 min read
OTTAWA – The federal government could stop cyber-meddlers from taking down its websites – but that would cost money, a computer-security expert says. The Canadian Security Intelligence Service site was the latest federal webpage to succumb to a denial-of-service attack and go offline. Two weeks ago the online Anonymous collective claimed responsibility for a digital […]
By The Canadian Press | June 30, 2015
2 min read
PERILS AG reported Monday that its latest estimated property insurance market loss for the combined storm systems of Mike-Niklas in Europe this spring – the second of four estimates to be disclosed – is 895 million euros. Mike-Niklas caused significant damage across parts of Western and Central Europe from Mar. 29 to Apr. 1, 2015, […]
By Canadian Underwriter | June 30, 2015
1 min read
Intact Insurance announced on Monday that it is now offering a new online “quick quote tool” for auto insurance for its Quebec consumers. A press release from Intact used the example of a consumer insuring a vehicle for themselves as the only driver. It said that it can now offer a price quote online in […]
By Canadian Underwriter | June 29, 2015
AIR Worldwide Monday announced the availability of its updated hurricane model for the United States, new features of which are meant to help insurers and reinsurers better understand and quantify risk from hurricanes. As part of the comprehensive update, the catastrophe risk modelling firm reports that features include a new fully hydrodynamic storm surge module […]
British Columbia’s Wildfire Management Branch (WMB) said on Friday that it was responding to 15 new wildfires in the Prince George Fire Centre region, all of which started the previous day. These fires were sparked by lightning and are burning in the northern portion of the fire centre. The Prince George Fire Centre has responded […]
By Canadian Underwriter | June 28, 2015
SGI Canada has paid $140 million in sewer back-up claims over the last five years and is encouraging homeowners to use sewer back-water valves to guard against these costly and potentially devastating events. In the past five years, an average of 5,500 Saskatchewan homeowners insured by SGI Canada have experienced a sewer back-up loss, notes […]
TORONTO – Ontario’s Liberal government says new measures meant to improve snow removal on provincial highways and keep motorists informed of road conditions will be in place by the winter. The changes announced Friday come in response to a scathing report from Ontario’s auditor general, who in April found the province had scrimped on winter […]
By Canadian Underwriter | June 26, 2015
Saskatchewan’s Ministry of Environment is recommending no non-essential travel to the La Ronge area due to “extreme wildfire hazards” in the northern part of the province. The ministry issued the recommendation on Thursday for the La Ronge area, which includes Air Ronge, Sucker River, Wadin Bay, Stanley Mission and Nemeiben. The ministry is also recommending […]
Surveyed IT professionals in Ireland report that their organizations are spending an average of 240,000 euros annually on prevention, response and damages caused by hacking, identity theft, malicious software and other forms of cyber crime, Ward Solutions reports. “The 240,000 euros average yearly spend on cyber security highlights the growing threat of cyber crime and […]
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