Claims
As always, things are changing on both the insurance and reinsurance fronts. Players in the Canadian market need to consider conditions at home and abroad to get a complete picture of things that remain the same and those poised to change.
By Greg Meckbach, Associate Editor; Harmeet Singh, Online Editor; and Angela Stelmakowich, Editor | October 31, 2014
8 min read
Experts agree a big earthquake is coming to Canada. So why are people not getting prepared? Exactly where and when the "big one" will hit can only be surmised, but preparedness has been lackluster for an event that will undoubtedly prove costly for everyone from governments to consumers, insurers and reinsurers.
By Mary Lou O'Reilly, Senior Vice President, Issues Management and Communications, Insurance Bureau of Canada | October 31, 2014
5 min read
Major disasters - natural or man-made - can damage both the immediate assets and operations of a business, as well as those far beyond. A major crisis serves as a moment of truth that tests the readiness, resilience and character of a business.
By Nathan Spitse, Senior Manager, Crisis Management; and Dave Robinson, Senior Manager, Business Insurance Consulting Practice, Deloitte | October 31, 2014
It has been a little slow this year, catastrophe-wise, but it would be foolish to believe what happens in one year will necessarily follow in the next. Clearly, there is no shortage of perils to elicit concern and produce costs for all: governments, insurers, reinsurers and policyholders. But perhaps no other peril is so top […]
October 31, 2014
3 min read
The Co-operators General Insurance Company has reported its loss ratio improved in in the third quarter of the year – aided by premium and policy growth – but weather-related events continue to be an issue for all regions of the country and the situation demands response. “We must heed the call of the Federal Commissioner […]
By Canadian Underwriter | October 31, 2014
2 min read
The Allstate Corp. released Wednesday its financial results for the three months ending Sept. 30, reporting 29 catastrophes during the quarter, a 4.8% increase in property-liability premiums and a 32% drop in underwriting income. “Catastrophe losses were $517 million in the third quarter of 2014 compared to $128 million in the third quarter of 2013, […]
By Canadian Underwriter | October 30, 2014
Aviva PLC has reported a 1.6-point deterioration in Canada’s combined operating ratio and a 6% year-over-year increase, on a constant currency basis, in net written premiums, for the first nine months of the year, in general insurance in Canada. Worldwide, London-based Aviva reported net written premiums, in general insurance, of £1.788 during the three months […]
WOODLAND, Calif. – California’s deepening drought is shrinking its rice harvest, and that’s bad news for farmers, migratory birds and sushi lovers. The $5 billion industry exports rice to more than 100 countries and specializes in premium grains used in risotto, paella and sushi. Nearly all U.S. sushi restaurants use medium-grain rice grown in the […]
By Canadian Underwriter | October 29, 2014
Ontario’s ruling Liberals are trying to pass an omnibus bill intended to reduce auto insurance claims costs, but Progressive Conservative politicians suggested this week that a time allocation motion on Bill 15 will limit opportunity for input from stakeholders such as towing and storage companies. On Tuesday, Jim Bradley, deputy government house leader and Liberal […]
ACE, Munich Re and Swiss Re are among the insurance companies ranked highest in terms of their response to climate change, though the “vast majority” of other firms are doing poorly, according to a new report from nonprofit sustainability advocacy group Ceres. The report ranks the 330 largest insurance companies operating in the United States, […]
By Canadian Underwriter | October 28, 2014
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
