Claims
Private property and casualty insurers in the United States saw net income fall $5.1 billion to $37.7 billion in the first nine months of 2014 over the same period the year before, ISO, a Verisk Analytics business, and the Property Casualty Insurers Association of America (PCI) reported Monday. Companies’ overall profitability for the first three […]
By Canadian Underwriter | January 26, 2015
2 min read
HIGH RIVER, Alta. – The Alberta government is providing an extra $20 million to fast-track the remaining claims from the province’s 2013 floods. Flooding in parts of southern Alberta in June, 2013 resulted in billions of dollars in damage. Hardest hit was the town of High River where entire neighbourhoods were under water for weeks. […]
NEW YORK – The Monday morning commute was normal for much of the Northeast as officials continued to urge residents to prepare for a “crippling and potentially historic” storm that could bury communities from northern New Jersey to southern Maine in up to 2 feet of snow starting later in the day. The National Weather […]
4 min read
The Institute for Catastrophic Loss Reduction will be hosting a seminar on the importance of seismic risk management of buildings, with a focus on post-earthquake functionality. Part of its ongoing Friday Forum series, the Feb. 20 workshop will feature Ghyslaine McClue, a professor at McGill University in the Department of Civil Engineering and Applied Mechanics. […]
By Canadian Underwriter | January 23, 2015
SAO PAULO – More than 300,000 people in Brazil’s biggest city were without water Friday, more than 24 hours after thunderstorms knocked out electricity to two pumping stations, the Sao Paulo state water utility said. The water company known as Sabesp said the lack of power after Thursday’s storms initially left 1.2 million people in […]
1 min read
Progress on the Ontario insurance product will continue to stall out without changes to clarify injury definitions and to enhance transparency in the tort system, both of which are fuelling higher costs and hampering efforts to achieve government-mandated rate reductions, speakers suggested during P&C Crystal Ball 2015 in Toronto. Barbara Taylor, director of policy, Ontario […]
5 min read
Several major insurance organizations have formed a new micro insurance consortium and micro insurance “venture incubator” (MVI), in an initiative announced during the World Economic Forum gathering currently being held in Davos, Switzerland. The group includes American International Group (AIG), Aspen Insurance Holdings, Catlin Group, Guy Carpenter & Company, Marsh & McLennan Companies, Hamilton Insurance […]
By Canadian Underwriter | January 22, 2015
Marsh & McLennan Companies Inc. issued this week a brief statement reacting to remarks by United States President Barack Obama on computer security vulnerabilities. “Marsh & McLennan Companies recognizes that cyber security is a race without a finish line,” the New York based firm stated in a release after President Obama’s state of the union […]
United States President Barack Obama suggested this week that without cutting carbon dioxide emissions, the world will experience rising oceans, worse heat waves, floods and droughts. “The best scientists in the world are all telling us that our activities are changing the climate, and if we do not act forcefully, we’ll continue to see rising […]
3 min read
Automated vehicles – or self-driving cars – could be on Canadian roads between 2020 and 2025, with the economic benefits being more than $65 billion per year, says a new report from the Conference Board of Canada. That benefit could be seen through collision avoidance, fuel cost savings and avoiding congestion, according to the report, […]
By Canadian Underwriter | January 21, 2015
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