Risk
The response by a vessel crew to an intoxicated passenger falling overboard was “uncoordinated” because the emergency signal to initiate the man overboard procedures was not sounded,” the Transportation Safety Board of Canada noted in a report released Thursday. TSB released its investigation report into an incident June 13, 2015 on Lake Ontario near Toronto. […]
By Canadian Underwriter | September 29, 2016
3 min read
The Commonwell Mutual Insurance Group announced on Thursday that it has launched two new seasonal products to enhance its current cottage packages. The Commonwell’s latest product releases were created in response to evolving cottage markets across Ontario, said The Commonwell, a merger of three longstanding mutual insurance companies in central and eastern Ontario. The products […]
By Canadian Underwriter | September 22, 2016
2 min read
Mutual property & casualty insurers in the United States experienced more growth in their commercial business than in personal lines over the past five years, while improved pricing sophistication has led to lower loss ratios, A.M. Best Company suggested in a report released Thursday. “Over the last five years, A.M. Best has seen many of […]
Explosions this past weekend in the Eastern United States have “implications for the modeling of terrorism risk,” Risk Management Solutions (RMS) Inc. stated Monday in a release. The Associated Press reported that an improvised explosive device (IED) exploded Saturday night in the New York City neighbourhood of Chelsea, injuring 29. Then on Sunday, a pipe […]
By Canadian Underwriter | September 19, 2016
Ontario is now offering production insurance to tender fruit growers who lose their trees “so they can feel confident in growing their businesses while managing risks inherent to farming.” Tender fruit trees now eligible for coverage include pear, plum, sweet and sour cherry, peach and nectarine, Ontario’s Ministry of Agriculture, Food and Rural Affairs noted […]
By Canadian Underwriter | September 16, 2016
LONDON – The senior deputy governor of the Bank of Canada says investors and those in the financial system need to adapt to the reality of slower growth and associated low interest rates. In a speech to the Official Monetary and Financial Institutions Forum in London, England, Carolyn Wilkins said Wednesday that means changing investment […]
By The Canadian Press | September 14, 2016
SCM Insurance Services announced Wednesday that it has opened a Chicago office, appointing former Hub International executive Scott Goodreau as chief operating officer-USA. SCM described Goodreau’s appointment as the “first step” towards taking its services to the United States. “Initially our focus will be targeted at two fronts: third party administration and claims adjusting services,” […]
By Canadian Underwriter | September 7, 2016
The complete failure of an already-cracked rail led to the January 2015 derailment of a Canadian Pacific Railway (CP) freight train carrying dangerous goods near Nipigon, Ont., the Transportation Safety Board of Canada (TSB) said in an investigation report released on Wednesday. On Jan. 13, 2015, a CP freight train was proceeding eastward about 34 […]
By Canadian Underwriter | August 31, 2016
More than 35,000 people in the United States lost their lives in traffic crashes in the United States last year, ending a five-decade trend of declining fatalities, the National Highway Traffic Safety Administration (NHTSA) reported on Monday. A total of 35,092 lost their lives in traffic crashes in 2015, a 7.2% increase in deaths from […]
By Canadian Underwriter | August 30, 2016
TORONTO – Panic about how the oil price shock could affect the banks’ bottom lines has subsided, as several of the country’s largest financial institutions reported better-than-expected third-quarter results. CIBC (TSX:CM) reported that its quarterly profit climbed nearly 50 per cent from a year ago to $1.44 billion, although much of the jump came from […]
By Jason Contant | August 26, 2016
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