Industry
Experts in the U.S. property and casualty industry believe the worst of the financial crisis is over and that the industry is now in the early stages of a hard market, reported the Insurance Information Institute (III).The III surveyed 40 executives from the P&C industry at its 16th Annual Property/Casualty Insurance Joint Industry Forum.Of those […]
By Canadian Underwriter | January 12, 2012
1 min read
The global re/insurance industry is realizing the emerging volatility of “cold spots” – exposures that surprised insurers in 2011 because they were not considered to be risky areas in the past.Reinsurance industry Guy Carpenter flagged the emerging theme of “cold spots” in its report on the January 2012 renewal season, entitled Catastrophes, Cold Spots and […]
By Canadian Underwriter | January 11, 2012
What if social networks such as Facebook, Myspace or Google+ were to become an insurance channel unto themselves in the next two years?Juergen Weiss, a research director at Gartner, a technology research firm, said this kind of development could be a very real possibility — perhaps as early as by the end of 2014. Weiss […]
2 min read
Perceived socio-economic global risks surpassed environmental risks when experts and industry leaders from around the world were asked to rank the most pressing risks of the coming decade, according to the World Economic Forum’s Global Risks 2012.Based on a survey of 469 experts and industry leaders, the report covers 50 global risks across five categories […]
National Brokers Insurance Services Inc. has received certification from WEConnect Canada.WEConnect Canada certifies businesses that are at least 51% owned, managed and controlled by women. It connects them with the growing corporate and public sector demand for diverse supplies, a National Brokers Insurance Services release says.”WEConnect Canada certification has further increased our exposure to potential […]
The 2011 Operation Red Nose (ORN) program in Ontario saw an increase of more than 15% in the total number of kilometres driven over 2010. And yet, there were zero collisions, zero injuries and zero fatalities in all participating areas during operating hours in 2011.The program, sponsored by the Ontario Safety League, Insurance Brokers Association […]
Ernst & Young has identified five strategies that U.S. property and casualty insurers need to explore in 2012 to improve their chances of success.”A low premium growth environment is expected to persist through 2012, adversely affecting insurer profitability and resulting in the fifth consecutive year of negative performance,” an Ernst & Young release says. “Furthermore, […]
By Canadian Underwriter | January 10, 2012
Insured losses rising from natural catastrophes in 2011 were more than 280% higher than insured losses seen in 2010, Aon Benfield reported in its annual catastrophe study. The report, published by Impact Forecasting, shows 253 separate events generated a record total economic loss of $435 billion in 2011.At $107 billion, the total insured loss from […]
Lloyd’s managing general agent CFC Underwriting has launched a new cyber liability wording to cover the risks of storing data “in the cloud.” A technology and cyber liability specialist, CFC says it has identified a gap in cover for firms using cloud computing services. It has launched a new cyber liability policy that now includes […]
State Farm Canada’s Festival of Trees for Southlake raised $75,300 for Southlake Regional Health Centre in Ontario.This represents a $20,000 increase over the proceeds collected from last year’s event.The Festival of Trees ran from Nov. 14, 2011 to Jan. 2, 2012 at the Upper Canada Mall in Newmarket, Ontario.The festivities kicked off with seven trees […]
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