Industry
Recent airline hull losses, such as the tragedies in July in Ukraine, Taiwan and Mali, have insurance professionals predicting that rating levels will need to be reviewed. This underscores the need for underwriters to obtain detailed information on risk factors such as overflight plans and overnight stops.
By Jason B. Hutchings, Vice President and Team Leader, Aon Risk Solutions | August 31, 2014
5 min read
NEW YORK – JPMorgan Chase, the nation’s biggest bank by assets, is working with law enforcement officials to investigate a possible cyberattack, said a person familiar with the situation who spoke on condition of anonymity, though the bank isn’t currently seeing any unusual fraud activity at the time. Jamie Dimon, the bank’s CEO, said in […]
By Canadian Underwriter | August 29, 2014
2 min read
Willis Re Inc. announced Thursday it has appointed Geoff Lubert as managing director and executive vice president of Willis Re Canada, replacing Robert Wildbore. Willis Re, a reinsurance broker owned by London-based brokerage and risk consultancy Willis Group Holdings plc, opened its Toronto office in 2010. At that time, Wildbore moved from London to Toronto. […]
1 min read
NEW YORK – The FBI said Wednesday it’s working with the Secret Service to determine the scope of recently reported cyberattacks against several U.S. financial institutions. A report on Bloomberg.com said Wednesday that the FBI is investigating an incident in which Russian hackers attacked the U.S financial system this month in possible retaliation against U.S. […]
By Canadian Underwriter | August 28, 2014
Desjardins General Insurance Group Inc. announced Thursday its financial results for the three months ending June 30, reporting a 5.4% increase in direct written premiums and an 86% drop in underwriting income over the second quarter last year. The Levis, Quebec-based property and casualty insurer reported a combined ratio, in the second quarter of 2014 […]
The London-based International Maritime Bureau (IMB) is calling for vigilance and timely response in the maritime sector, advising that shipping and the supply chain looks to be the “next playground for hackers.” “Recent events have shown that systems managing the movement of goods need to be strengthened against the threat of cyber-attacks,” notes a posting […]
By Canadian Underwriter | August 26, 2014
Toronto City Council voted Monday to prohibit the use of electronic cigarettes at city workplaces, to change contracting rules to “support the acceleration” of the Basement Flooding Protection Program and to approve a funding adjustment in order to build a new fire station. The move to ban e-cigarettes at City of Toronto workplaces comes within […]
4 min read
DETROIT – Ford is recalling more than 160,000 vehicles in North America for two safety issues. The largest recall involves 159,395 Focus ST and Escape vehicles from the 2013 and 2014 model years. Ford says their engines could hesitate or stall because of a wiring problem. Ford also is recalling 616 Focus and C-Max cars […]
By Canadian Underwriter | August 22, 2014
Allied World Assurance Company, Ltd. has reached definitive agreements to acquire the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance plc (RSA) for approximately US$215 million, Allied World Assurance Company Holdings, AG announced Thursday. The Hong Kong and Singapore businesses – which had total gross premiums written of about US$250 million in […]
3 min read
TORONTO – The World Health Organization and national governments need to step up their efforts if the West African Ebola outbreak is to be brought under control, the president of the leading aid group in the response warns. The WHO, in particular, must ratchet up its role, Dr. Joanne Liu, international president of Medecins Sans […]
By Canadian Underwriter | August 21, 2014
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