Industry
MONTREAL – The advent of competition and new technologies is forcing politicians across Canada to re-evaluate their cities’ taxi industries and to wonder just how many cabs they want on the roads. Big cities are struggling with new entrants such as Uber, a service that allows drivers to work with little overhead costs and to […]
By Canadian Underwriter | July 20, 2015
4 min read
The combination of improved underwriting results and higher net investment income helped produce a 12.9% increase in pre-tax operating income for the United States’ property/casualty industry in the first quarter of 2015 over the prior year first quarter, according to a report released on Monday by ratings firm A.M. Best Company. The Best’s Special Report, […]
3 min read
Technology is set to play an even larger – even transformative – role for commercial lines insurers in the United States to attract, retain and profitably serve clients, notes a new report issued last week by Novarica. Pointing out that commercial insurance is often characterized by complex coverages, heterogeneous exposures and risks, and individually negotiated […]
2 min read
ST. JOHN’S, N.L. – Canada’s premiers reached a deal Friday on a national energy strategy that supports both project development and the need to act on climate change, ending days of bickering over finding a balance between economic growth and environmental protection. A communique released after the premiers met in St. John’s, N.L., states the […]
By Canadian Underwriter | July 17, 2015
In an effort to encourage shareholders to support a merger with Axis Capital Holdings Ltd., PartnerRe Ltd. announced Thursday it is offering to increase, by 52%, a special dividend that PartnerRe shareholders would get in the event of such a merger. Both of the Pembroke, Bermuda-based companies write reinsurance and commercial primary insurance worldwide. Both […]
CALGARY – A deal has been worked out in a class-action lawsuit filed over an E. coli outbreak and the largest meat recall in Canadian history. The lawsuit is against XL Foods Inc., which operated a meat-packing plant in southern Alberta during a tainted beef recall in 2012. “We’ve reached an agreement on the class […]
Private property and casualty insurers’ net income after taxes grew to US$18.2 billion in the first quarter of 2015 from US$13.9 billion in the first quarter of 2014, according to a report from ISO, a Verisk Analytics, and the Property Casualty Insurers Association of America (PCI). The report, released on Thursday, measured insurers’ overall profitability […]
LOS ANGELES – Google Inc. revealed Thursday that one of its self-driving car prototypes was involved in an injury accident for the first time. In the collision, a Lexus SUV that the tech giant outfitted with sensors and cameras was rear-ended in Google’s home city of Mountain View, where more than 20 prototypes have been […]
Aviva Canada announced on Thursday that epost is now available for customers to receive home and auto insurance policies online. Canada Post’s epost digital mailbox allows users to conveniently manage their financial documents in one place with one login and one password. The Centre for Study of Insurance Operations – which last month announced eDelivery, […]
By Canadian Underwriter | July 16, 2015
Cyber risk, interest rates and the regulatory environment rank as the top concerns for the Canadian insurance industry, according to a report from the Centre for Study of Financial Innovation and PwC Canada. The Canadian risk survey, released on Wednesday, found that regulatory risk emerged as the overall top risk for Canadian and global participants […]
By Canadian Underwriter | July 15, 2015
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