Industry
Chubb Limited has released its preliminary loss estimates attributable to Hurricanes Irma and Harvey. “Losses for Hurricane Irma are currently estimated to range from $800 million to $950 million pre-tax, or $640 million to $760 million after tax,” stated Chubb, which was formed in 2015 by the acquisition by ACE Limited of The Chubb Corp. All figures are in […]
By Canadian Underwriter | October 2, 2017
2 min read
Intact Financial Corporation (IFC) announced on Thursday that it has completed its $2.3 billion (US$1.7 billion) acquisition of U.S. specialty insurer OneBeacon Insurance Group, Ltd. The acquisition makes IFC “a leading provider of specialty insurance in North America with over $2 billion in combined annual premiums focusing on small to midsize businesses,” the company said in a […]
By Canadian Underwriter | September 28, 2017
4 min read
OTTAWA – The head of the Bank of Canada says that after two interest-rate hikes this summer there is “no predetermined path” for the benchmark going forward. In a speech Wednesday, governor Stephen Poloz said many unknowns and external risks remain, even though the economy had a surprisingly powerful start to the year. Due to […]
By Jason Contant | September 28, 2017
TORONTO – RBC says “a small number” of its credit-card clients’ personal information may have been affected in the massive Equifax security breach. Bank spokesperson A.J. Goodman said in an email that RBC has not yet identified any impact to clients and is continuing to investigate the issue. Earlier this month, Equifax said hackers gained […]
By The Canadian Press | September 22, 2017
1 min read
CFC Underwriting announced on Friday that it has expanded its contingency insurance offering with the launch of a new event insurance package policy in Canada. The new solution enables Canadian brokers to “deliver to their clients comprehensive event cancellation as well as general liability and property cover for the event all under one policy,” the […]
By Canadian Underwriter | September 22, 2017
With the risk landscape changing, RIMS president Nowell Seaman says the organization welcomes risk professionals who are dedicated, passionate and want to better understand and manage risk.
By Greg Meckbach, Associate Editor | September 20, 2017
The cost of a cyberattack for large enterprises in North America is US$1.3 million, up from US$1.2 million in 2016, according to a new report from cybersecurity company Kaspersky Lab and market research firm B2B International. The report, titled IT Security: cost-center or strategic investment? and released on Tuesday, is based on a survey of […]
By Canadian Underwriter | September 19, 2017
Nine days after Hurricane Irma made landfall in Florida, Hurricane Jose is expected to cause “rough surf conditions” along the Atlantic Coast of Nova Scotia and heavy rain south of Boston, while Hurricane Maria is expected to cause “life-threatening flash floods” on some Caribbean islands, including Puerto Rico and the Virgin Islands. Meanwhile, Fitch Ratings […]
Disruption, clearly, is disruptive. But organizations, including those in Canada’s property and casualty insurance space, need to flip the script and view disruption for what it can be: an opportunity to change how they think about and manage risk.
By Jennifer Johnson, Partner and National Leader, Risk Assurances Services, PwC Canada | September 19, 2017
Equifax Canada is reporting that the personal information of approximately 100,000 Canadian consumers may have been affected by the credit monitoring company’s recent data breach. “While our investigation is ongoing and this information may change, at this point, we believe that the incident involves potential access to the personal information of approximately 100,000 Canadian consumers, […]
3 min read
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.
