Industry
XL Group plc’s (NYSE: XL) environmental business segment is offering pollution insurance protection for Fixed Base Operators at North American airports. The new policy addresses “on-site pollution incidents, including situations arising from noise pollution,” the company announced Tuesday. “Fixed Base Operators face a number of environmental exposures specific to their work at an airfield,” Matt […]
By Canadian Underwriter | June 18, 2013
1 min read
Toronto roads took four of the 10 spots on CAA’s Worst Roads List, with Dufferin Street making the list for the seventh time in total. That street was also voted worst in Ontario for the second year in a row, according to CAA South Central Ontario. CAA has listed the 10 worst roads in the […]
2 min read
Two-thirds of the approximately 200 insurance executives taking part in a survey earlier this month say they are dealing with aging legacy systems, a situation that SAP AG suggests is a prevailing hindrance to reaching new markets and managing the entire customer life cycle. Asked about the best practice for managing core systems modernization, the […]
The European Insurance and Occupational Pensions Authority (EIOPA) has released its recommendations on “long-term guarantee products” in the Solvency II regime, but one firm says the proposals aren’t enough to cool disputes between insurers and regulators. Last Friday, the EIOPA published its Technical Findings on the Long-Term Guarantee Assessment (LTGA), a task it was given […]
By Canadian Underwriter | June 17, 2013
The Shipowners’ Club saw a 5.8% increase in gross premiums for the year ended Feb. 20, 2013, achieved through organic growth despite continuing difficult economic conditions and an increasingly competitive market, the company noted in releasing its Annual Report 2013 late last week. The increase in gross premiums amounted to US$221.9 and was achieved without […]
The insurance industry lacks gender diversity across all levels of leadership, despite having a high number of women employed in the field, suggests a new study out of the United States. For the study, primary author Mike Angelina, executive director of Saint Joseph’s Academy of Risk Management and Insurance, analyzed the publicly available information of […]
By Canadian Underwriter | June 14, 2013
Insurance companies may not be prepared for several “megatrends” that will become more crucial in the next five years, including changes sprouting from social media and talent issues, according to a new report from Towers Watson. In a survey of about 500 insurance experts globally, capital management, regulatory issues and a “volatile economic environment,” ranked […]
Shawn DeSantis, executive vice president of RSA Insurance, has announced that he will take on the position of president and chief executive officer of a Toronto-based independent brokerage. After nearly a decade with RSA Canada, DeSantis will be moving to Jones DesLauriers Insurance Management Inc. “Shawn has played a major role in the growth of […]
The Canadian economy is expected to grow by just 1.8% this year, but that growth could speed up in 2014 as the situation strengthens south of the border, according to a recent outlook report. In its spring 2013 outlook report, the Conference Board of Canada says that next year, the Canadian economy is expected to […]
The Federal Insurance Office in the United States has released its first annual report on the insurance industry in the country, noting that persistent low interest rates are continuing to present a challenge. The office, within the U.S. Treasury department, was created through the Dodd-Frank Wall Street Reform and Consumer Protection Act, tasked with monitoring […]
By Canadian Underwriter | June 13, 2013
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