Claims
Crop insurance from the Department of Agriculture made up the lion’s share of federal disaster relief dollars in the United States in 2011 and 2012, a new report suggests. The Center for American Progress published Wednesday a report that it describes as the “first-known comprehensive estimate” of U.S. government disaster relief spending by state. “There […]
By Canadian Underwriter | September 12, 2013
2 min read
Toronto Police Service officers arrested a man outside of his home in Edmonton this week in connection with an insurance scam. On Tuesday, police arrested Serafattin (George) Solak after receiving a Canada-wide warrant from the Ontario Crown Attorney’s office. During the arrest, officers seized fraudulent Aviva Canada motor vehicle insurance liability cards, according to a […]
1 min read
Tropical Storm Gabrielle is expected to bring rainfall and winds to the Atlantic provinces, while the season’s first hurricane has also begun to form. As of the 11 a.m. AST advisory from the National Hurricane Center in the United States, the storm was about 90 km west of Bermuda. “The storm’s maximum sustained winds weakened […]
By Canadian Underwriter | September 11, 2013
Underwriting performance has improved recently in marine and airline insurance, but those lines are “only marginally profitable,” suggests a new report by Swiss Re. The Zurich-based reinsurer announced Thursday it published the latest of its Sigma series of reports, titled Navigating Recent Developments in Marine and Airline Insurance. “Compared with peak loss periods in the […]
By Canadian Underwriter | September 10, 2013
Demand for natural catastrophe reinsurance coverage in high-growth markets is expected to double and to increase by 50% in mature markets by 2020, Swiss Re said this week. Pricing rates are experiencing decreases in that area, but are expected to stabilize in 2014, the reinsurer also noted. “Amid the continued low yield environment, alternative capital […]
AIR Worldwide announced Monday its next generation software platform, Touchstone, will include the ability to account for catastrophe and non-catastrophe risk in a single platform. By adding non-catastrophe analytics, companies will be able to analyze their risk of property exposure using the same exposure data input for catastrophe modelling. Users can manage both in one […]
By Canadian Underwriter | September 9, 2013
The Canadian property and casualty insurance industry is recording solid performance, despite several ongoing challenges, notes a new special report from A.M. Best. The ratings agency has maintained a stable outlook for the industry. Last year was the fourth in a row where combined ratio improved and net premiums written increased, A.M. Best says. Net […]
Earthquake risk in British Columbia is a “pocket of opportunity” for global insurers, as some carriers have “curtailed” writings while insured values are increasing, suggests a new report from Aon Benfield. The reinsurance division of London-based Aon plc announced Sunday the release of its 2013 Insurance Risk Study, which included several statistics on each of […]
3 min read
Reinsurers are facing soft pricing and excess capital and, as such, must decide how to strategically deploy capital to generate returns that will satisfy the expectations of investors and/or shareholders, suggests a mid-year market report from Guy Carpenter & Company, LLC. Investors are moving to supply capacity through a convergence of alternative and traditional vehicles, […]
4 min read
New Jersey-based Chubb Group of Insurance Companies is now offering added protection for contractors who purchase and install a tracking device on their equipment. “Contractors’ equipment is more than twice as likely to be stolen than damaged or lost due to vandalism, fire, collision or weather-related events,” Bob Opitz, vice president and worldwide inland marine […]
By Canadian Underwriter | September 6, 2013
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.
