Industry
The Insurance Institute of Canada has elected T. Neil Morrison of Hub International Ltd. as the new chair of its board of governors. Morrison, executive vice president of operations at Hub, was elected at the Institute’s annual general meeting last month in Winnipeg. Morrison is based in Toronto. For six years prior to his current […]
By Canadian Underwriter | November 12, 2014
2 min read
ARLINGTON, Va. – Ground zero in the nation’s fight against cybercrime hides in plain sight, in a nondescript suburban office building with no government seals or signs. Only after passing a low-key receptionist stationed on the seventh floor does one see the metal detectors, personal cellphone lockers and a series of heavy doors marked “classified” […]
By Canadian Underwriter | November 11, 2014
3 min read
Firstbrook Cassie & Anderson Limited (FCA Insurance Brokers) is among the Canadian members of the newly-launched Global Broker Network (GBN Worldwide), a worldwide insurance network with headquarters in Chicago and London. The new “insurance ecosystem” currently has representation in more than 85 countries and is preparing for more growth over the next year, FCA noted […]
By Canadian Underwriter | November 10, 2014
1 min read
ACE Group has announced a new option for its ACE Privacy Protection policyholders in Canada, the Data Breach Fund Sidecar Endorsement. The new option provides a single data breach fund limit, one that falls outside the policy’s liability limits for all data breach expenses, ACE said Monday. The ACE Data Breach Team includes a panel of […]
Berkshire Hathaway Inc. witnessed a big increase in operating earning for insurance underwriting in the third quarter of 2014 compared to the same period last year, contributing to the company seeing operating earnings increase to US$4.724 billion. The operating earnings for Q3 were US$4.724 million compared to US$3.662 billion in Q3 last year (after-tax results). […]
WASHINGTON – The U.S. Postal Service said Monday it is the victim of a cyberattack and that information about its employees, including Social Security numbers, may have been compromised. The FBI and other federal agencies are investigating, the agency said in a statement. Postal Service spokesman David Partenheimer said the personal information that may have […]
NEW YORK – Home Depot says hackers stole 53 million U.S. and Canadian email addresses in addition to data from millions of payment cards. One of North America’s largest home improvement chain says Thursday that hackers stole 53 million customer email addresses from April to September. It had disclosed in September that 56 million debit […]
By Canadian Underwriter | November 7, 2014
EGI Financial Holdings Inc., which operates in the property and casualty insurance industry in Canada and Europe, has reported a net income of $5.537 million for the third quarter this year, more than doubling the $2.44 million for the same period of 2013. The story was somewhat different for the first three quarters of the […]
Outstanding catastrophe bond limit in the Asia-Pacific region has reached US$1.625 billion and about 6% of the region’s catastrophe limit is covered by alternative capital, but the growth rate in the cat limit has “failed to keep pace with overall economic growth” in the region, Guy Carpenter & Company LLC suggests. This year the catastrophe […]
By Canadian Underwriter | November 6, 2014
Industrial Alliance Insurance and Financial Services has reported a net income attributed to common shareholders of $91.5 million for the three months ended Sept. 30, down from $105.8 million in the third quarter last year. Premiums and deposits for the quarter totaled $1.8 billion, according to the earnings release from the company on Wednesday. Individual […]
By Canadian Underwriter | November 5, 2014
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