Industry
Intact Financial Corporation (IFC) is expanding its direct operations in Western Canada – thereby extending the insurer’s direct-to-consumer operations from coast to coast – with the announcement Tuesday evening that it has acquired Canadian Direct Insurance Inc. (CDI). IFC reports in a statement that it has entered into a definitive agreement with Canadian Western Bank […]
By Canadian Underwriter | February 10, 2015
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HOUSTON – An autopsy has found that a metal disc from a defective air bag sliced into a Texas man’s neck and killed him after a low-speed car accident last month near Houston. The Harris County Institute of Forensic Sciences concluded that Carlos Solis had suffered no other serious injuries, and his death was accidental. […]
Canada’s first Wildfire Community Preparedness Day is scheduled May 2, and communities “are encouraged to participate in local mitigation projects,” The Co-operators Group Ltd. announced Monday. FireSmart Canada – administered by Partners in Protection – announced the launch in collaboration with the Institute for Catastrophic Loss Reduction (ICLR), the National Fire Protection Association and The […]
Cunningham Lindsey Group Ltd. announced Monday its new president and chief client officer for the Americas is David Repinski (pictured), who has returned to the Tampa, Fla.-based loss adjusting and claims management firm after working for Crawford & Company. At Crawford & Company, Repinski was chief executive officer of U.S. property & casualty. Before joining […]
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Executives for organizations surveyed “continue to have significant anxiety” about regulatory risk, while most see reliance on technology as a “significant risk threat,” suggests a report announced Monday by Protiviti Inc. and the enterprise risk management (ERM) initiative at North Carolina State University. The report, Executive Perspectives on Top Risks for 2015, was based on […]
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In 2015, the combined ratio will be less than 100 for the third year in a row in the United States property and casualty insurance industry, where larger carriers are “leading the charge” in data analytics and usage-based insurance for private passenger auto and where commercial carriers will face challenges including “uncertainties” around risks such […]
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CNA Financial Corp. reported Monday a 3.2-point improvement in its combined ratio, a 1% increase in gross written premiums in property & casualty insurance and a 10% drop in net income, from the fourth quarter of 2013 to the same period last year. In its financial results, CNA reported gross written premiums, in P&C, of […]
By Canadian Underwriter | February 9, 2015
Swiss Re Canada has a new president and chief executive officer, Veronica Scotti, effective April 1, Swiss Re announced Monday. Scotti, who will be based in Toronto, is currently a Swiss Re client executive based in Armonk, N.Y. Swiss Re Canada’s previous president and CEO, Sharon Ludlow, left the reinsurer last year to become president […]
Some commercial insurers covering cyber risk are looking for additional information from retail clients on compliance with the payment card industry (PCI) data security standard standards, conflict in the Middle East is raising “red flags” among political risk insurers while rates for environmental coverage “remained generally flat” in 2014, despite risk associated with cleanup obligations […]
Aspen Insurance Holdings Ltd. recently reported its gross written premiums increased 9.7% in 2014 and that its fourth-quarter combined ratio improved 24.5 points in primary insurance while deteriorating 24.1 points in reinsurance, due in part to a higher frequency of non-correlated mid-sized losses in the three months ending Dec. 31. Hamilton, Bermuda-based Aspen – which […]
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