Industry
Dublin-based XL Group plc confirmed Wednesday that it is in preliminary talks with Catlin Group Ltd. to potentially acquire the company and form a combined entity. “Both XL and Catlin – respected, innovative, global P&C firms – are well positioned on their own,” XL’s CEO Mike McGavick said in a statement issued Wednesday. “However, we […]
By Canadian Underwriter | December 17, 2014
2 min read
Former Aviva Canada executive Greg Dunn has been appointed president and CEO of the Mass Group of Insurance Brokerages, effective Jan. 1, 2015. Dunn has extensive experience in senior leadership roles in the property and casualty insurance industry, including at Aviva Canada, which he joined in 2004 and where was most recently executive vice president of national […]
By Canadian Underwriter | December 16, 2014
1 min read
Two weeks after announcing the acquisition of an insurer in Malaysia, Toronto-based Fairfax Financial Holdings Ltd. announced it has agreed to acquire some of QBE Insurance Group Ltd.’s operations in Eastern Europe. Fairfax said in a Dec. 16 press release it has entered an acquisition agreement with QBE Insurance (Europe) Ltd. Fairfax anticipates that QBE […]
A bill proposing to have the United States government continue to provide a backstop for commercial insurance covering terrorism into 2015 is going back to the Senate, after the House of Representatives voted Dec. 10 in favour of amendments. Risk and Insurance Management Society (RIMS) Inc. earlier warned that any company with “facilities, employees or […]
By Canadian Underwriter | December 15, 2014
6 min read
WINNIPEG — An RCMP officer who investigated a fatal house fire in a Manitoba aboriginal community says people trying to fight the flames didn’t have a chance without a fire truck. Const. Mark Stienwandt with the Island Lake RCMP told an inquest into two fatal fires on northern reserves that the house in St. Theresa […]
By The Canadian Press | December 15, 2014
ISO, a Verisk Analytics business, has announced the availability of new coverage options to prepare insurers for the rise of commercial drones around the world. Recently filed on a multi-state basis for a June 2015 implementation, the options modify coverage under ISO’s Commercial General Liability and Commercial Liability Umbrella/Excess programs, notes a statement from the […]
3 min read
The Insurance Bureau of Canada (IBC) is reminding homeowners every home has something that poses a carbon monoxide (CO) threat and that alarms are now mandatory in homes with a fuel-burning appliance or an attached garage. “Having a CO alarm will help protect families and save lives,” Ralph Palumbo, IBC’s vice president, Ontario, notes in […]
Premium rate changes in crime and fidelity insurance, for financial institutions in Europe, the Middle East and Africa, have taken a “sharp turn upward” while 29% of respondents reported improved coverage terms in directors’ and officers’ liability policies, Aon plc recently reported. London-based Aon Risk Solutions announced Wednesday the release of its 2014 EMEA Financial […]
By Canadian Underwriter | December 12, 2014
In a recent survey of risk professionals, respondents who were not responsible for enterprise risk management (ERM) reported they were “generally more satisfied” with their organizations’ commercial insurance carriers and brokers than those who were, Risk and Insurance Management Society Inc. (RIMS) suggested Wednesday. RIMS and McGraw Hill Financial Inc.’s J.D. Power unit announced Monday […]
By Canadian Underwriter | December 10, 2014
4 min read
Commercial insurance prices in the United States continued a familiar trend in the third quarter of the year, with price changes – up 3% in aggregate over the same quarter in 2013 – at almost the same level as Q2 of 2014 notes the latest Commercial Lines Insurance Pricing Survey (CLIPS) from Towers Watson. The […]
By Canadian Underwriter | December 9, 2014
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