Industry
Drivers in Detroit pay 165% more than the United States average in insurance premiums, due in part to the state of Michigan’s unlimited personal injury protection, says Bankrate Inc.’s insuranceQuotes.com service. Last month, Quadrant Information Service conducted a study — commissioned by insuranceQuotes.com, on the average cost of auto insurance premiums in the 25 largest […]
By Canadian Underwriter | September 12, 2014
1 min read
Cyber insurance, trade barriers and the Scottish independence referendum scheduled Sept. 18 were among the concerns recently cited by John Nelson, Chairman of Lloyd’s, during a dinner speech. “One of the industry’s great challenges at the moment is to find ways to take on new and emerging risks such as cyber-crime, reputational damage, supply chain […]
2 min read
EDMONTON — A City of Edmonton report shows Alberta’s capital is facing a reality confronting many other Canadian cities — aging sewer systems that can’t handle more turbulent storms resulting from climate change. Figures compiled in the report to be studied next week show $2.4 billion will be needed to upgrade sewers in 150 older […]
A British Columbia court dismissed this week a civil claim against eight commercial property insurers by a policyholder that sought coverage for pollution cleanup arising from a fire. In July, 2010 a fire damaged The Stewart Centre commercial complex in Kelowna. The owner and property policyholder was Whitworth Holdings Ltd. One tenant, Univar Canada Ltd., […]
WASHINGTON – The United States Office of Personnel Management plans to terminate its massive contracts with U.S. Investigations Services LLC (USIS), the major security clearance contractor that was targeted last month by a cyber attack, agency, congressional and company officials said Tuesday. The computer network intrusion compromised the personal files of as many as 25,000 […]
4 min read
Highcourt Partners Ltd. of Toronto announced this week an agreement to acquire The Galileo Group, a brokerage with Lloyd’s binding authority with offices in Toronto and Vancouver. Highcourt Partners, a corporate broker and risk consultant, is a member of the UnisonBrokers global network. “In addition to Highcourt’s current offering of boutique risk consulting, risk management […]
By Canadian Underwriter | September 11, 2014
About one in six pickup trucks stolen in the United States the four-year period ending in 2013 were unrecovered as of five months ago, and the urban areas with the highest rates of unrecovered vehicles are near the southern border, the National Insurance Crime Bureau said in a report announced Thursday. NICB’s report covers certain […]
CALGARY – Commuters needed hours to get to work, snow-laden tree branches groaned and snapped and thousands of people were without power Wednesday after a second major taste of winter hit Calgary with 10 days to go before summer’s end. Trees were uprooted and roads clogged with broken branches. The power outages, which at one […]
By Canadian Underwriter | September 10, 2014
5 min read
As a part of its anti-distracted driving ‘Your Last Words’ campaign, Manitoba Public Insurance announced Tuesday the release of a simulator designed to encourage people to stop texting while they drive. The simulator will be available both online at yourlastwords.ca and as a portalble, event version. “The simulator is interactive, sending scripted texts to participants who […]
Some financial industry executives responding to a recent survey cited road infrastructure, mass transit links and timely health services as areas of concern in Toronto, the Conference Board of Canada suggested in a recent report, titled Growing Financial Services Headquarters in Toronto. The objective of the survey, of financial services executives, was to “identify the […]
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