Risk
Toronto-based Kingsway Financial Services Inc. has reported an operating loss of US$1.1 million for the second quarter of 2016 ending June 30, compared to US$2.5 million for the second quarter of 2015. Kingsway released its financial results on Friday, indicating that its Insurance Underwriting segment operating income was US$0.2 million for the second quarter of […]
By Canadian Underwriter | July 22, 2016
2 min read
Following a record breaking first quarter issuance of US$2.22 billion, catastrophe bond issuance for the second quarter of 2016 stood at US$800 across five transactions – a relatively low figure during a historically active quarter, Aon Securities said on Thursday. “Such contraction can be in part attributed to competition from traditional markets as well as […]
By Canadian Underwriter | July 21, 2016
Allianz Global Corporate & Specialty (AGCS) SE announced Wednesday its new transactional liability unit in North America. “This new practice will offer financial protection specifically to protect against inaccuracies made about target companies or businesses in connection with mergers, acquisitions and divestitures,” Munich-based AGCS stated in a press release. In Canada, AGCS has offices in […]
By Canadian Underwriter | July 20, 2016
One day after it announced that it had expanded into the transactional liability insurance market in Canada and the United States, Berkshire Hathaway Specialty Insurance (BHSI) said that it is introducing four new executive and professional lines in Canada. BHSI added in a press release on Wednesday that it has named Andrew Knight as national […]
Chubb Ltd. announced on Monday that it has launched a modular insurance policy designed specifically for Canadian privately owned companies. ForeFront Portfolio addresses the broad range of liability risks faced by Canadian private companies in an increasingly risky and litigious business environment, Chubb said in a press release. “We are excited to launch ForeFront Portfolio […]
By Canadian Underwriter | July 18, 2016
3 min read
WASHINGTON – Nearly 8 of every 10 U.S. drivers admit expressing anger, aggression or road rage at least once in the previous year, according to a survey released Thursday by the AAA Foundation for Traffic Safety. The behaviour could include following too closely, yelling at another driver, cutting them off or making angry gestures. While […]
By Jason Contant | July 14, 2016
WARSAW, Poland – Canada is deploying what the Liberal government describes as its largest sustained military contingent to Europe in more than a decade, as NATO prepares for a protracted standoff with a resurgent Russia. In Poland, Prime Minister Justin Trudeau announced Friday that Canada will send troops and fighter jets to eastern Europe, where […]
By Greg Meckbach | July 8, 2016
4 min read
The use of hands-free technologies while driving does not eliminate distracted driving risk, Northbridge Insurance suggested Thursday in a blog post. “Many drivers aren’t fully engaged on the road putting their lives and the lives of others at risk,” Toronto-based Northbridge stated in a blog post listing tips for managing distracted driving. “Even the use […]
By Canadian Underwriter | July 8, 2016
1 min read
Allianz Global Corporate & Specialty SE plans to have Paul O’Neill replace Bill Scaldaferri as chief underwriting officer, specialty. Scaldaferri – appointed chief executive officer for North America for Munich-based AGCS effective July 1 – continued having responsibility for the insurer’s aviation, energy, entertainment and marine lines of business, as well as for Allianz Risk […]
By Canadian Underwriter | July 7, 2016
Lorri Frederick is replacing Ross Betteridge as president of national independent insurance claims adjusting firm ClaimsPro Inc. Frederick was previously executive vice president and chief operating officer of ClaimsPro. Betteridge is now chief operating officer of ClaimPro’s parent company, SCM Insurance Services Inc. Betteridge joined ClaimsPro in 2015. His previous employers include Travelers Canada and […]
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