Industry
Energy firms that integrate their industrial control systems with Internet-based computer systems increase their risk of cyber attack, and the “traditional” cyber insurance market does not normally cover significant physical loss or damage, suggests a recent report from Willis Group Holdings plc. The London-based brokerage and risk management firm announced Tuesday it has published its […]
By Canadian Underwriter | April 9, 2014
3 min read
FREDERICTON – New Brunswick’s consumer advocate for insurance says drivers continue to benefit from competition among companies as the average amount they paid to insure their cars last year fell by about $16. Ronald Godin says the average insurance rate of $704 in 2013, down from about $720 the year before, is the lowest in […]
By The Canadian Press | April 9, 2014
1 min read
SAN FRANCISCO – An alarming lapse in Internet security has exposed millions of passwords, credit card numbers and other sensitive bits of information to potential theft by computer hackers who may have been secretly exploiting the problem before its discovery. The breakdown revealed this week affects the encryption technology that is supposed to protect online […]
4 min read
DETROIT – Only two of nine midsize SUVs got the highest rating in crash tests done by an insurance industry group. The Chevrolet Equinox and GMC Terrain, both made by General Motors, received the highest “good” rating from the Insurance Institute for Highway Safety. The Toyota Highlander got the second-best “acceptable” rating in tests of […]
By Canadian Underwriter | April 8, 2014
2 min read
An insurance product available from the Lloyd’s market has been deemed acceptable for use by Manitoba egg producers, after a ruling that says they can use private insurance. A ruling by Manitoba Farm Products Marketing Council in January means that egg producers are not limited to purchasing their Salmonella insurance from the Manitoba Eggs Farmers […]
By Canadian Underwriter | April 7, 2014
Arthur J. Gallagher & Co. released Sunday its financial results for the three months ending March 31, 2014, reporting an 18% year-over-year increase in net earnings and a 4% year-over-year increase in risk management revenue. Itasca, Illinois-based Arthur J. Gallagher, which has offices in Canada, reported brokerage revenues of $568.6 million in the first quarter, […]
ACE Group announced Friday its new Global Cyber Risk Practice, aimed at taking on the growing risks around privacy and network security. The new division comes after a December 2013 study by ACE in Europe, which suggested that cyber risk was a top-three emerging risk issue for businesses based in the region, with 40% of […]
By Canadian Underwriter | April 4, 2014
The federal Liberal finance critic expressed concern Thursday about a proposal from the ruling Conservatives that could lead to regulations enabling the demutualization of property and casualty insurance companies. Scott Brison, Liberal MP for Kings Hants, Nova Scotia, spoke about Bill C-31, which was tabled March 28. If passed into law, the 380-page omnibus bill […]
Fitch Ratings Inc. released this week its commercial lines market update for the United States, reporting an increase in premiums in 2013 for all lines other than medical-professional liability, sharp drops in the loss ratios, in 2013, in special property and commercial multiperil and a “significant underwriting loss” in workers compensation. “Underwriting performance improved in […]
By Canadian Underwriter | April 3, 2014
GPL Assurance Inc. announced Wednesday it has acquired the Quebec business of Jardine Lloyd Thompson Canada, making it JLT’s exclusive broker in Quebec and a member of The JLT International Network. “This transaction cements GPL’s position as a growing force in the Quebec general insurance and risk management solutions market,” Louis-Thomas Labbé, GPL’s president and […]
By Canadian Underwriter | April 2, 2014
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
