Industry
Computer data security, corporate governance and regulation were among the major risks cited by insurance executives surveyed by Ernst & Young. Ernst & Young Thursday released a report, titled “Business Pulse: Exploring dual perspectives on the top 10 risks and opportunities in 2013 and beyond,” which was based on a survey of 65 firms. Respondents […]
By Canadian Underwriter | June 27, 2013
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Generation X drivers are the most likely to admit to distracted behaviour behind the wheel, according to a new survey from Allstate Canada. Of those born between 1965 and 1980 included in the survey, 95% admit to distracted driving behaviour, according to the insurer, which commissioned the online poll of 2465 Canadians, conducted by Abacus […]
Insurance firms and their clients need to focus on cyber liability risk, suggested executives at the recent Canadian Commercial Insurance Summit (CCIS). “This is a market that we collectively have to grow,” said Andrew Hollenberg, president of ACE Canada. “We need to get out there and sell it.” He suggested clients are “going to get […]
1 min read
AIR Worldwide has announced the availability of a new pandemic flu model meant to capture the excess morbidity, mortality and insurance losses caused by pandemic influenza. Business interruption is among the areas where insurers and reinsurers may incur potentially significant losses, notes a statement from AIR Worldwide, a member of the Verisk Insurance Solutions group […]
The Canadian government has announced new requirements for companies operating major crude oil pipelines, including a $1 billion capability to respond to spills or other damage. Natural Resources Minister Joe Oliver also announced Wednesday a requirement for companies to appoint an “accountable senior officer whose duty is to ensure their management system and programs are […]
By Canadian Underwriter | June 26, 2013
Bethesda, Md. has maintained its top spot on an annual list of large communities in the United States ranked on their safety and security. Grand Rapids, Mich. and Pittsburgh also made the top three in the large communities category of most secure places to live in the U.S., an annual list from Farmers Insurance. The […]
Global premium for the non-life insurance sector grew 2.6% last year, and premium growth is likely to improve further in the near term, according to the latest sigma study from Swiss Re. Overall, total global premiums written increased to $4.61 trillion, according to the reinsurance company. Non-life business accounted for nearly $2 trillion of that, […]
With the start of peak lightning season, State Farm calls lightning one of nature’s most underestimated dangers, reporting that it paid more than $200 million in related insurance claims across North America last year. Citing data compiled by Environment Canada, State Farm Canada notes in a statement that the country receives an annual average of […]
3 min read
The global market for commercial non-life insurance brokers is set for strong growth up to 2016, led by rapid growth in emerging markets, according to research firm Finaccord. Commercial non-life insurance markets for brokers outside of Europe and North America will account for 23.6% of the global market by 2016, the London-based firm says, based […]
By Canadian Underwriter | June 25, 2013
The Saskatchewan government has approved a rate increase for auto insurance in the province, effective at the end of August. The government has approved a 1.03% overall increase to Saskatchewan Auto Fund rates, along with rate rebalancing, and a 1.23% surcharge on all rates for a one-year term, Saskatchewan Government Insurance announced Monday. SGI had […]
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