Industry
American International Group, Inc. (AIG) insurers have launched a new line of multinational commercial property products and services for mid-sized businesses confronting global risk exposures AIG’s Property Performance Series – which includes expanded coverage, loss prevention engineering and risk management solutions – is meant to meet needs in light of more middle market companies seeking […]
By Canadian Underwriter | June 23, 2014
2 min read
TOKYO – Honda, Mazda and Nissan are recalling millions of vehicles globally for defective airbags manufactured by supplier Takata Corp. that could possibly explode. No accidents have been reported related to Monday’s recalls. Honda Motor Co. recalled 2.03 million vehicles for the airbag problem, including 1.02 million in North America and nearly 669,000 in Japan. […]
Economical Mutual Insurance Company has welcomed enactment of amendments to Canada’s Insurance Companies Act (ICA), calling the move a significant milestone in the implementation of a framework for property and casualty insurance company demutualizations. Bill C-31, the budget implementation act, was tabled March 28 and recently received Royal Assent. That enacts amendments to several acts, […]
Canadian Underwriter magazine is celebrating its 80th Anniversary in 2014. To acknowledge this milestone, the Canadian Underwriter staff dove into the archives and agreed that it would be a an exciting project to preserve and share a snapshot of the magazine’s content from each of its 80 years covering the industry. Since the beginning of […]
By Canadian Underwriter | June 18, 2014
XL Group plc announced Wednesday it has established a North America cyber and technology risk unit, headquartered in New York City. The Dublin, Ireland-based carrier previously provided cyber and technology errors and omissions coverage through its “select professional” business unit, which provides professional liability insurance. In addition to its New York office, the new cyber […]
1 min read
One in four Canadian drivers say they are “likely to take some kind of action” if they witness another driver committing what they characterize as a “pet peeve,” such as using a mobile device, failing to signal or following too closely, according to a new survey from RBC. In the survey — conducted by Ipsos […]
By Canadian Underwriter | June 17, 2014
The Co-operators Group Ltd. announced Tuesday it is offering “tailored” insurance products, including commercial property and liability, for co-operatives who are not affiliated with The Co-operators’ membership. Dubbed Co-op Guard, the service “allows co-operatives to save time and effort in purchasing the essential insurance products and financial services they need to protect and build their […]
DETROIT – General Motors says it needs to change or replace the keys for about 3.4 million cars, including almost 188,000 in Canada, because they could cause the ignition switch to move out of position if there is too much weight on the key chain. GM said in a statement Monday that the switches can […]
3 min read
WINNIPEG – Manitoba drivers could end up paying more for auto insurance if the province’s public insurer gets its wish. Manitoba Public Insurance is seeking a 3.4 per cent rate increase from the Public Utilities Board. The insurer, known for short as MPI, says poor driving conditions this past winter led to a record number […]
AMSTERDAM, Netherlands – The Dutch government says it wants to encourage large-scale tests of self-driving cars in the Netherlands by next year, and supports a plan to allow tests of self-driving trucks by 2019. The country’s infrastructure minister, Melanie Schultz van Haegen, said Monday she is investigating legal changes needed to allow self-driving cars to […]
By Canadian Underwriter | June 16, 2014
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