Claims
Towers Watson Capital Markets (TWCM) announced Monday it has arranged a private placement catastrophe bond for the Florida Municipal Insurance Trust (FMIT), an organization that offers workers’ compensation, liability, property and health insurance to local governments in the state. The bond, Sunshine Re 2013-1, closed at $20 million with a coupon for 9.25% for three-year […]
By Canadian Underwriter | May 13, 2013
1 min read
The concentration of carbon dioxide measured in that atmosphere at a National Oceanic and Atmospheric Administration monitoring station in Hawaii reached a record high late last week. “On May 9, the daily mean concentration of carbon dioxide in the atmosphere of Mauna Loa, Hawaii surpassed 400 parts per million (ppm) for the first time since […]
2 min read
It is imperative that a company has a social media policy to reference when conducting investigations, stresses Constable Richard Gadreau, social media officer with the Niagara Regional Police Service. More than one-third of insurance companies who use social media in any capacity don’t have a social media strategy, he said, speaking Friday at the 2013 […]
3 min read
The Ontario Progressive Conservative Party plans to hold a round table on auto insurance May 13 in Brampton, with the intent of discussing the party’s proposals to reform policy. When the minority Liberal government released its budget May 2, it said it would aim to reduce average auto premiums in the province by 15%, and […]
By Canadian Underwriter | May 10, 2013
4 min read
The Manitoba government has proposed amendments to the province’s Highway Traffic Act that would require stricter seatbelt use. Under the proposed amendments, each passenger in a vehicle would be required to occupy a seat and use the seatbelt provided. Passengers in wheelchairs would also need to be secured with a seatbelt. “We want to ensure […]
The Ontario Court of Appeal ruled Tuesday against the City of Hamilton over its refusal to participate in mediation for an auto injury claim. The appeal court overturned one of the findings of a decision by the Ontario Superior Court of Justice in Dale Williston’s lawsuit against the city, and an individual co-defendant, over a […]
By Canadian Underwriter | May 9, 2013
Food security and challenges related to the supply and distribution of food globally will be major risk issues over the next decade, and the insurance industry can play a key role in risk mitigation and helping to protect both businesses and vulnerable populations, notes a recent report from Lloyd’s. A growing global population and changing […]
Many fatal auto collisions in the United States involve cell phone use, but many of those aren’t included in a national database as crashes involving cell phones, according to a new research report from the National Safety Council (NSC). For its report, partially sponsored by Nationwide Insurance, the NSC examined 180 collisions that occurred between […]
By Canadian Underwriter | May 8, 2013
The expanding investor base and competitive capacity of the catastrophe risk market signals a positive trend for the long term, suggests G.C. Securities’ analysis of first quarter activity and trends within the risk market for 2013. “The catastrophe risk market is demonstrating its readiness to transition from ‘adolescence’ to ‘young adulthood,’” Chi Hum, global head […]
April catastrophe losses were dominated by earthquake events worldwide, particularly in Asia, notes the latest global catastrophe recap report from Impact Forecasting, the catastrophe modelling arm of Aon Benfield. A 6.6-magnitude earthquake in China’s Sichuan province killed at least 196 people and injured more than 13,000 others, the report notes. An unofficial estimate totals economic […]
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