Risk
NEW YORK – America has a debt problem, but it’s not what you think. Yes, the federal government owes trillions of dollars more than it did a few years ago. Yes, Americans are still struggling to pay off mortgages and student loans. But it’s the buildup in debt elsewhere that is most worrying some experts, […]
By Canadian Underwriter | August 25, 2016
5 min read
Flow of risk-related information in an organization depends in part on “effective safety management processes,” the Transportation Safety Board of Canada noted in a release Thursday. TSB, which investigate incidents involving aviation, marine, rail and pipelines, announced Thursday the release of the Proceedings of the TSB Transportation Safety Summit. The summit was held April 21-22 […]
3 min read
A collision between two trains Sunday, about 2 kilometres northwest of the Ontario legislature building, on a freight track serving as a “major link” between Western Canada and the Port of Montreal, is under investigation. The Transportation Safety Board of Canada announced Sunday it is sending an investigator to Toronto “following the collision between a […]
By Canadian Underwriter | August 22, 2016
Oldwick, N.J.-based ratings firm A.M. Best Company has announced the publication of its new Best’s Insurance-Linked Securities & Structures Methodology (BILSM). The publication follows a public comment period that began on May 16 and closed on June 16, A.M. Best said in a press release on Tuesday. This final document contains just minor changes relative […]
By Canadian Underwriter | August 18, 2016
2 min read
Health insurers in the United States are advised to be vigilant in developing pandemic preparedness plans to respond to the new health risks associated with the Zika virus, notes a special report issued Friday by A.M. Best. With arrival of the Zika virus south of the border, A.M. Best states that about two dozen cases […]
By Canadian Underwriter | August 15, 2016
The federal government is looking for feedback on its “next agricultural policy framework,” which could entail promoting private-sector risk management tools. The first phase of its consultation closed July 31. In the next phase, the government is seeking feedback on the Calgary Statement, released July 22. “We want your feedback to help shape the direction […]
By Canadian Underwriter | August 11, 2016
Three weeks after it expressed concerns about the “safety culture” in Canada’s fishing community, the Transportation Safety Board of Canada noted Thursday it is investigating 12 marine incidents. TSB reported on Twitter it was investigating the occurrences “from coast to coast.” Canada’s fishing community “does not yet have a strong safety culture,” TSB said July […]
The Transportation Safety Board of Canada is reiterating a recommendation made 16 years ago that the federal government mandate emergency position indicating radio beacons “or other appropriate equipment” for small fishing vessels operating off the coast of Canada. In a press release Friday, TSB said it “continues to call for concerted and coordinated action by […]
By Canadian Underwriter | August 5, 2016
An organization’s exposure to political risk depends on the independence of the judiciary in the countries in which it operates, and risk managers should not assume that only emerging markets have political risk, Risk and Insurance Management Society (RIMS) Inc. suggested in a recent report. “The paradigm dividing the world into developed and developing countries […]
By Canadian Underwriter | August 4, 2016
The recent wildfire in and near Fort McMurray, Alberta resulted in net incurred losses of $13.5 million for OdysseyRe and $20.9 million for Northbridge Insurance, the carriers’ parent company reported recently. All figures are in United States dollars. Fairfax Financial Holdings Ltd. released July 28 its financial results for the quarter and six months ending […]
By Canadian Underwriter | August 3, 2016
4 min read
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