Industry
Kiln Group and Tokio Marine Europe, both part of the Tokio Marine Group, have announced plans to form a combined operation, effective Jan. 1. The new business, subject to regulatory approval, will operate under a combined management team to continue growth in Europe and elsewhere, a statement from Kiln Group said. Tokio Marine Kiln Group […]
By Canadian Underwriter | December 6, 2013
2 min read
Insurance brokers in the United States will likely see a modest improvement in their revenue and earnings growth for 2014 over levels for the first nine months of this year, according to a new outlook report from Fitch Ratings. The firm said its expects operating performance and balance sheet strength to “remain supportive of the […]
1 min read
NEW YORK – It’s sometimes called highway hypnosis or white-line fever, and it’s familiar to anyone who has driven long distances along a monotonous route. Drivers are lulled into a semi-trance state and reach their destination with little or no memory of parts of the trip. But what if it happened to an engineer at […]
By Canadian Underwriter | December 5, 2013
6 min read
Covering hydraulic fracturing risks can be profitable for primary insurers and reinsurers, but insurers need to watch the outcome of lawsuits, suggest experts who spoke to A.M. Best Company Inc. in a recent video. On a BestTV video, posted by the Oldwick, N.J.-based credit rating provider to its website Wednesday, two insurance experts talked about […]
Insurance companies are generally more vulnerable to malicious e-mails than banks, while a slight majority of computer security staff members surveyed do not fully disclose information technology vulnerabilities even to executives at their own firms, an IT security expert suggested Wednesday. Kevvie Fowler, partner, advisory services at KPMG Canada, said in a presentation that insurance […]
By Canadian Underwriter | December 4, 2013
LOS ANGELES – A woman has pleaded not guilty to what is believed to be the first traffic citation alleging a motorist was using Google’s computer-in-an-eyeglass. The device known as Google Glass, not yet widely available to the public, features a thumbnail-size transparent display above the right eye. Cecilia Abadie was pulled over on suspicion […]
MEXICO CITY – A truck carrying an extremely dangerous radioactive substance has been stolen in central Mexico, the U.N. nuclear agency said Wednesday. The International Atomic Energy Agency said the truck was carrying cobalt-60, used for radiotherapy treatment to combat cancer. An IAEA statement Wednesday said the truck was stolen Monday while taking the material […]
The financial services industry in Canada is struggling with innovation, especially compared with the industry globally, with 28% of board-level respondents in a recent survey saying it’s “very challenging to build an innovative culture.” Innovation is viewed as an important driver of success by 83% of banks, insurers, wealth managers and other financial services leaders, […]
By Canadian Underwriter | December 3, 2013
New Brunswick has named a new chair for its recently-created Financial and Consumer Services Commission. Peter Klohn of Saint John will being his five-year appointment beginning Jan. 1. The commission, which began operating in July, consolidated the regulatory authorities for securities, insurance, pensions, consumer affairs, co-operatives, credit unions, caisses populaires, and loan and trust companies […]
Nearly one in three Canadian drivers surveyed, 18 to 20 years of age, “were significantly more likely to report being provoked or engage in aggressive driving around the major winter holidays,” according to results of a recent survey sponsored by State Farm. State Farm announced this week results of a survey conducted Oct. 25 to […]
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