Industry
NEW YORK — Shares of home-improvement retailer Home Depot sank before the opening bell Tuesday after confirming that its payment systems had been hacked, potentially exposing millions of shoppers who used credit and debit cards at its more than 2,000 U.S. and Canadian stores. The breach could turn out to be one of the biggest […]
By Canadian Underwriter | September 10, 2014
3 min read
Almost 70% of financial losses between 2009 and 2013 arose from 10 causes of loss, with ship groundings topping the list, concludes an analysis released Wednesday by Allianz Global Corporate & Specialty (AGCS). The largest single identified cause of loss by total value was ship groundings, reflecting the high values of modern shipping risks, notes […]
4 min read
More than 63% of the 1,201 qualified Canadian drivers taking part in a Traffic Injury Research Foundation (TIRF) survey reported that they felt drug-impaired drivers posed a serious threat to traffic safety. Survey results show the youngest (71.9%) and oldest (78.5%) polled drivers expressed the most concern about drug-impaired drivers, notes a statement from TIRF, […]
Commercial insurance prices in the United States rose 3% in aggregate during 2014 Q2, confirming the moderation in price increases that began last year, note findings in Towers Watson’s latest Commercial Lines Insurance Pricing Survey (CLIPS). Survey results issued this week – which compare carriers’ pricing on policies underwritten during the second quarter of 2014 […]
2 min read
The Insurance Information Institute warned Tuesday that the availability and price of terrorism insurance is “tightening” in the United States due to uncertainty over the impending expiry of the Terrorism Risk Insurance Act, which was initially passed in 2002. TRIA requires commercial insurers in the U.S. to cover losses in incidents which are “certified” by […]
By Canadian Underwriter | September 9, 2014
Capital continues to be drawn to the reinsurance industry despite the fact that fundamentals are trending in the wrong direction, suggests a special report issued Monday by A.M. Best. The annual segment review of the global reinsurance industry – How Relevant Is The Underwriting Cycle? – explores whether or not the traditional underwriting cycle has […]
5 min read
GENEVA – Carbon dioxide levels in the atmosphere reached a record high in 2013 and weather is becoming more extreme due to fossil fuel burning, the World Meteorological Organization warned Tuesday. As the heat-trapping gas blamed for the largest share of global warming, carbon dioxide rose to global concentrations of 396 parts per million last […]
Nearly three in four respondents to a survey commissioned by insurance firm The Chubb Corp. said they were concerned that unmanned aerial vehicles could damage property and the majority do not want businesses operating drones. Warren, N.J.-based Chubb announced Monday the results of the survey, of 1,000 adults, conducted by ORC International. “Close to three-fourths […]
ACE Group recently announced it has a company-wide goal of reducing greenhouse gas emissions by 10% per employee from 2012 to 2020. “To achieve its new goal, ACE will continue to deploy the approaches it has used successfully to date, including installing energy-efficient lighting and equipment and more efficient use of office space,” the Zurich, Switzerland-based […]
1 min read
VANCOUVER — Fisheries and Oceans Canada is looking for someone to map the ocean floor near the British Columbia coast, an area it says could be affected by spills with the expected increase in tanker traffic. The department issued a request for proposals Friday for initial steps toward mapping the inlets, islands, reefs and intertidal […]
By Canadian Underwriter | September 8, 2014
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