Claims
WINNIPEG – The icy grip of winter may be wearing down even the most hearty cold-weather enthusiasts, but in flood-prone Manitoba, it could help keep the province relatively dry come spring. Flood officials say frigid temperatures have helped sap most of the moisture out of the above-average snowfall that has blanketed the province. “Everybody in […]
By Canadian Underwriter | February 28, 2014
2 min read
The Institute for Catastrophic Loss Reduction will hold a workshop on understanding tornadoes in Canada on March 21. “Recent work on identifying ‘tornado prone’ regions of Canada for the National Building Code of Canada has led to a much-improved understanding of where tornadoes most frequently occur and where strong to violent tornadoes are most likely,” […]
The combined underwriting gain for State Farm property and casualty companies, coupled with investment and other income, resulted in a pre-tax operating profit of US$4.3 billion and a net income of US$4.6 billion in 2013. More specifically, State Farm reported Friday an underwriting gain of US$230 million in 2013 on earned premium of US$54.5 billion, […]
Underwriters for FCT, which provides title insurance, noticed a more pronounced trend towards a greater number of suspicious real estate transactions at a lower dollar value in 2013. For both residential and commercial real estate transactions, the amount of mortgage funding sought in transactions flagged as suspicious is getting smaller, at the same time the […]
1 min read
LOS ANGELES – Homes were evacuated as a swift storm with expected heavy rain moved toward drought plagued Southern California, bringing worries of mudslides where recent wildfires left mountainsides exposed. The storm’s full force was expected to be felt Friday morning, with possible thunderstorms and rains up to an inch per hour, the National Weather […]
3 min read
The majority of insurer-managed “over cap” repair and rebuild projects for damage from the 2011 Canterbury earthquake are now completed or underway, the Insurance Council of New Zealand said Wednesday. As of the end of 2013, 1,494 insurer-managed rebuilds and major repairs had been completed and 7,625 cash settlements reached, Insurance Council spokesman Samson Samasoni […]
By Canadian Underwriter | February 27, 2014
Royal & Sun Alliance Insurance Company of Canada announced Thursday that three severe weather events last year resulted in insured losses in 2013 of $286 million for RSA Canada, while net written premiums increased 11% year over year. Meanwhile, RSA Group described its global financial results in 2013 as “poor,” adding it plans to “reduce […]
4 min read
WASHINGTON – Rail tank cars being used to ship crude oil from North Dakota’s Bakken region are an “unacceptable public risk,” and even cars voluntarily upgraded by the industry may not be sufficient, a member of the National Transportation Safety Board said Wednesday. The cars, known as DOT-111s, were involved in derailments of oil trains […]
Allianz Group has reported a 4.1% rise in revenue to 110.8 billion euros for 2013, and a jump in operating profit to 10.1 billion euros from 9.3 billion euros in 2012. Net income increased by 14.6% to 6 billion euros (from 5.2 billion in 2012), the company also reported Thursday. Allianz also said its number […]
Significantly reduced pricing, relative to recent years, contributed to about US$7.1 billion worth of new property and casualty catastrophe bonds being issued in 2013, notes a briefing issued Thursday by GC Securities, a division of MMC Securities Corp. 2013 represented a record year for P&C issuance, notes a statement from Guy Carpenter & Company, LLC […]
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.
