Risk
One year after Allianz Global Corporate & Specialty (AGCS) offered cyber security coverage in Canada, the specialist corporate insurer announced on Tuesday that it is launching a dedicated cyber unit in the United States as part of its Financial Lines portfolio. AGCS said in a media release that Emy R. Donavan and Jenny Soubra have […]
By Canadian Underwriter | December 15, 2015
3 min read
CAIRO – A preliminary investigation into the crash of a Russian passenger plane has found no indication yet of any “illegal or terrorist act,” Egypt’s chief investigator said in a statement released Monday. The vaguely worded statement by Ayman el-Muqadam said the investigation committee so far has not found “any evidence” indicating foul play in […]
By Canadian Underwriter | December 14, 2015
2 min read
Shareholders of commercial insurance brokerage Willis Group Holdings plc and consulting firm Towers Watson & Co. have approved a US$18-billion merger agreement, the firms announced Friday. “The companies expect that the transaction will close very early in the New Year, subject to customary closing conditions, including the receipt of certain regulatory approvals,” Willis and Towers […]
By Canadian Underwriter | December 11, 2015
Smaller brokers outperform their large counterparts in overall satisfaction, according to the J.D. Power 2015 Large Commercial Insurance Study, released on Wednesday. The study, conducted in association with RIMS, the risk management society, also found that brokers that outperform their peers in overall satisfaction emphasize quality advice and guidance as well as reasonable fees. Based […]
By Canadian Underwriter | December 10, 2015
None of the world’s largest asset managers are regulated by Canada’s Office of the Superintendent of Financial Institutions (OSFI), but that sector is vulnerable to incidents “that can spark global financial stability concerns,” OSFI deputy superintendent Mark Zelmer suggested Tuesday. “The asset management sector is not immune to stress that can spark global financial stability […]
By Canadian Underwriter | December 9, 2015
More than one in four risk managers surveyed in the United States have 25 years’ experience or more on the job, while in Canada fewer than 19% have been managing risk for more than a quarter century, a recent survey from Risk and Insurance Management Society (RIMS) Inc. suggests. In its Risk Management Compensation Survey […]
By Canadian Underwriter | December 8, 2015
The Insurance Bureau of Canada (IBC), along with law enforcement and provincial trucking associations in British Columbia, Alberta, Saskatchewan and Manitoba, announced on Tuesday that the “highly successful” cargo theft reporting program currently operating in Eastern Canada is expanding to the four western provinces. The expansion includes the launch of a new national database, which […]
The insurance market underwriting cycle is turning unfavourable in many commercial market segments in the United States, including directors and officers (D&O) liability insurance, Fitch Ratings said on Monday. The credit ratings and research firm said in a press release that premium rates in property lines have been declining for some time in response to […]
By Canadian Underwriter | December 7, 2015
ACE Limited announced on Thursday the leadership team it intends to appoint for the company’s Canadian operations, which will take effect upon completion of the acquisition of Chubb – expected in the first quarter of 2016. The company’s Canadian operations will offer a broad range of property, casualty, high net worth personal lines and accident […]
By Canadian Underwriter | December 4, 2015
The Ontario government has an estimated liability of nearly $1.8 billion for cleaning up sites affected by hazardous waste or pollution, but there is no plan or fund in place for cleaning up those contaminated sites, Auditor General Bonnie Lysyk stated in her 2015 Annual Report released Wednesday. The public should also have access to […]
By Canadian Underwriter | December 3, 2015
4 min read
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
