Industry
The government of Newfoundland and Labrador is continuing to risk lives by not including fencing in their new moose management plan, says a group that lobbies to reduce vehicle crashes involving moose. The five-year initiative is designed to minimize conflicts between people and moose on the island of Newfoundland while maintaining the moose population and […]
By Canadian Underwriter | April 15, 2015
3 min read
Willis Group Holdings plc, a global risk advisor insurance and reinsurance broker, expects property and casualty insurance buyers to experience largely buyer-friendly market conditions on most business lines for the remainder of the year, due in part to light cat losses and a robust supply of capital from traditional and non-traditional sources, the company said […]
Less than three months after it announced an agreement to merge with Axis Capital Holdings Ltd., PartnerRe Ltd. announced Tuesday it has received a US$6.4 billion acquisition offer from EXOR S.p.A., the Italian investment firm that effectively controls Fiat-Chrysler Automobile. PartnerRe, based in Pembroke, Bermuda, has an operating branch in Toronto and provides both life […]
The premiers of Canada in attendance at the Quebec Summit on Climate Change have agreed to commit to the implementation of programs and measures to adapt to climate change and reduce greenhouse gas (GHG) emissions, among other items. In a declaration posted online on Quebec Premier Philippe Couillard’s website on Tuesday, the Canadian premiers – […]
Cyber attackers can compromise an organization within minutes in the majority of breaches, a situation made worse by the continuing “detection deficit” that exists, suggests a new report issued Wednesday by Verizon Enterprise Solutions. As in prior reports, Verizon’s 2015 Data Breach Investigations Report cites the ongoing challenge of the time that elapses between a […]
4 min read
Opta Information Intelligence (Opta), a provider of Canadian property intelligence and technology solutions, introduced on Tuesday technology that embraces the industry trend toward predictive analytics, while “allowing insurers to take their commercial portfolio underwriting to a new level of sophistication.” The launch new tool, called Commercial Peril Score, provides the ability to identify commercial properties […]
By Canadian Underwriter | April 14, 2015
2 min read
The Nova Scotia Court of Appeal recently decided in favour of Royal & Sun Alliance Insurance Company of Canada when it ruled that a lower court erred in dismissing a motion for assessment of damages against an uninsured driver involved in a collision with RSA auto policyholders. The issue was whether damages in a subrogated […]
5 min read
COLORADO SPRINGS, Colo. – Officials are cleaning up after seven rail cars carrying dry ammonia fertilizer overturned in downtown Colorado Springs. About 70 residents in the city south of Denver were asked to remain indoors following the accident Sunday night. Powdered ammonia can cause burns to the skin and eyes or damage the lungs if […]
By Canadian Underwriter | April 13, 2015
1 min read
Willis Group Holdings, the global risk adviser, insurance and reinsurance broker, is urging energy insurers to increase innovation and offer buyers a wider range of new products and services as underwriters face mounting competitive pressure, record capacity levels and reduced premium income. A combination of the recent collapse in oil prices, record capacity levels, relatively […]
A recent study that concludes Ontario consumers “may have overpaid” $3 to $4 billion for auto insurance between 2001 and 2013 actually excluded the carriers with negative return on equity in Ontario auto, the Insurance Bureau of Canada and the Insurance Brokers Association of Ontario (IBAO) suggest. On April 10, the Ontario Trial Lawyers Association […]
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