Industry
United Kingdom-based Advent Insurance Management, which provides support services for delegated authority underwriting businesses, has established operations in Canada with its announcement Monday that it has entered into a joint venture agreement with Canadian Claims Services Inc. (CCS). As part of the formal partnership with CCS, Advent Insurance Management Limited has been formed in Canada […]
By Canadian Underwriter | September 8, 2015
2 min read
Annual sales of autonomous-capable vehicles are expected to reach 85 million by 2035, according to a report released this week by Navigant Research, a market research and consulting company that provides analysis of global clean technology markets. The report, Autonomous Vehicles, provides a detailed examination of the emerging market for different levels of fully and […]
By Canadian Underwriter | September 4, 2015
The sector outlook for the reinsurance industry is negative for 2016, but major Tier 1 reinsurers with strong franchises and market positions are well-placed to adapt to – and profit from – the changing reinsurance landscape and mounting competitive pressures, suggests a new report from Fitch Ratings. While major Tier 1 reinsurers stand to benefit […]
3 min read
KOTZEBUE, Alaska – President Barack Obama closed out his Alaska tour with a trip Wednesday to the tiny town of Kotzebue, becoming the first sitting U.S. president to set foot in the Alaska Arctic – part of a wider effort to command attention to the issue of climate change. But Obama had to walk a […]
By Canadian Underwriter | September 3, 2015
A total of US$4.6 trillion of projected GDP is at risk from 18 manmade and natural disasters in 301 cities across the world over a ten-year period, according to a new study published on Thursday by Lloyd’s, the specialist insurance and reinsurance market. Based on original research by the Cambridge Centre for Risk Studies at […]
The National Highway Traffic Safety Administration (NHTSA) in the United States has changed the number of defective air bag inflators it says are affected by the Takata recall – from more than 30 million in the U.S. to 23.4 million in total. NHTSA said in a statement on Tuesday that its current estimate of the […]
By Canadian Underwriter | September 2, 2015
Berkshire Hathaway Inc. has jumped ahead of SCOR SE in the reinsurance market, replacing the Lloyd’s market as the fourth-largest reinsurance group in 2014, A.M. Best Company Inc. suggests in a report released Wednesday. In its annual Global Reinsurance Segment Review, released towards the end of the summer, A.M. Best lists the top 50 global […]
Saskatchewan Government Insurance (SGI) has announced a new program that allows vehicle owners in the province to have some damage estimated at accredited auto repair firms, instead of taking the vehicle to an SGI claims centre first. On Wednesday, SGI said that is partnering with the auto repair industry in a bid to help streamline […]
The reinsurance market is operating in a “new reality” of abundant capacity from traditional and alternative sources, low interest rates and thinner reinsurance margins driven by intense competition against shrinking demand for reinsurance cover, ratings firm A.M. Best Company said in a special report released on Wednesday. The Best’s Special Report, titled It is Not […]
4 min read
The lure of learning technologies must be balanced against practical, implementation and ethical issues before these technologies can be fully exploited by the property and casualty industry, David Crozier, president and CEO of Everest Insurance Company of Canada, told attendees of the 3rd annual Insurance-Canada.ca executive forum in downtown Toronto Monday. Learning technologies – such […]
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