Risk
Global marine underwriting premiums for 2016 fell to US$27.5, a 9% reduction from 2015, the International Union of Marine Insurance (IUMI) reported on Monday. The association presented its annual statistical report on the marine insurance market at the IUMI 2017 Tokyo conference, being held from Sunday until Wednesday. “The 2016 number follows a continuing downward […]
By Canadian Underwriter | September 18, 2017
5 min read
The province of Ontario announced on Monday morning that it will introduce legislation this fall that will include zero tolerance for drug-impaired driving for several classes of motorists. Premier Kathleen Wynne and Minister of Transportation Steven Del Duca announced the plans in Toronto for legislation this fall that would “increase the consequences and costs for […]
3 min read
Vessel operators’ safety management systems should include standard operating procedures for low visibility conditions, the Transportation Safety Board of Canada said in an investigation report released Thursday. On June 29, 2016, a Halifax-based sightseeing vessel with 39 people on board crossed the bow of a larger vessel, coming within 25 metres of a 227-metre long […]
By Canadian Underwriter | September 15, 2017
Hurricane Irma will “try the ability” of Florida regional property insurers to mitigate catastrophe risk through reinsurance, but there will be a “material” reduction in forecasts of insured losses from the storm, which will be “more of an earnings event” for large reinsurers rated by A.M. Best Company Inc., the ratings firm suggested in a […]
TORONTO – Equifax Canada is facing intensifying calls for transparency on its massive cyberhack as the Canadian Automobile Association informs thousands of its members that their data may have been compromised and frustrated consumers ask questions about why they’re being treated worse than their U.S. counterparts. CAA said Thursday it partnered with Equifax on its […]
By Jason Contant | September 15, 2017
4 min read
The majority of insurance company CEOs in the United States – 79% – are confident about the growth prospects of their organizations over the next three years as they are looking to innovate processes and implement new technologies in response to the rapid disruption of the sector, according to the KPMG U.S. CEO Outlook 2017 […]
2 min read
Manitoba Public Insurance (MPI) will be launching a “broad public awareness and education campaign” to raise awareness about the dangers and consequences of drug-impaired driving in advance of the expected federal legalization of recreational use of marijuana next year. Manitoba Premier Brian Pallister and Crown Services Minister Cliff Cullen announced the campaign on Thursday. The […]
The insurance industry might always look slow and staid to the casual observer, but this year’s PROFIT 500 list proves that exciting opportunities are just about everywhere in the economy — insurance included. Released today by CanadianBusiness.com, the 29th annual ranking of Canada’s Fastest-Growing Companies includes 14 companies that are in the insurance field or count […]
By Ian Portsmouth | September 14, 2017
Cyberattacks, autonomous vessels, Arctic exploration and a return to piracy are the top risks facing the shipping industry, new research from Lloyd’s has found. With insight and input from marine insurance experts across the Lloyd’s market, the world’s specialist insurance market explored the top risks in shipping today, presented in no particular order of priority. […]
By Canadian Underwriter | September 14, 2017
Federal labour law should be changed to prohibit employees from entering their workplaces under the influence of marijuana without “medical authorization” and to stipulate what exactly constitutes a “safety sensitive position,” a law firm recommended Thursday to the House of Commons Standing Committee on Health. “The federal and provincial legislatures have failed to pass any […]
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