Claims
In an effort to better manage risks during a period of large-scale catastrophes, insurers should consider offering long-term policies to homeowners in hazard-prone areas.”Such a long-term policy could be tied to a mortgage, and home improvement loans can encourage the adoption of cost-effective mitigation measures,” says a report co-authored by the Wharton University of Pennsylvania, […]
By Canadian Underwriter | March 24, 2008
1 min read
Integro Insurance Brokers, an international insurance broker and risk management firm, has appointed managing principals Mark Rankin and John Haas to the firm’s partnership group in Canada.Rankin is client development sales leader for the Toronto and Vancouver offices. He has 23 years of experience in property and casualty insurance, with an emphasis on international placements […]
The northeastern seaboard of North America is highly vulnerable to “northern hurricanes,” a rare form of storm that occurs much quicker than its Gulf of Mexico cousins, reported A.M. Best.These storms tend to be two to three times faster than hurricanes that hit the Gulf of Mexico, leading to less evacuation time and tend to […]
By Canadian Underwriter | March 20, 2008
Food producers must be better prepared to manage not only the possibility of a product recall, but any reputational damage that could sink the company as a result.”It takes 20 years to build a reputation, and about five minutes to ruin it,” Ed Mitchell, senior underwriter for product recall at XL Insurance Company Limited, said.He […]
By Canadian Underwriter | March 18, 2008
2 min read
Potential climate change is the greatest strategic risk currently facing the property and casualty insurance industry, according to an Ernst & Young report. Demographic changes and catastrophic events follow closely behind.For the study, Strategic Business Risk 2008, Ernst & Young and Oxford Analytica interviewed more than 70 industry analysts from around the world to identify […]
By Canadian Underwriter | March 14, 2008
ING Insurance Company of Canada has announced the continuation of its full partnership in the Insurance Brokers Association of Canada’s (IBAC) Broker Identity Program.”We continue to recognize the invaluable branding the Broker Identity Program brings the insurance broker profession,” said Derek Iles, president of ING Insurance. “The protective embrace exhibited by the BIPPER is a […]
By Canadian Underwriter | March 13, 2008
Catastrophe-related economic losses from natural and man-made events around the world exceeded US$70 billion in 2007 US$28 billion of which were insured losses marking a trend towards an increase in the number and cost of natural and man-made events, says Swiss Re research. According to Swiss Re’s latest sigma study, “Natural Catastrophes and Man-made Disasters […]
By Canadian Underwriter | March 11, 2008
Canada’s auditor general is satisfied Natural Resources Canada has taken steps to update the insurance requirements for the country’s nuclear facilities.The Nuclear Liability Act, which came into force in 1976, currently limits the liability of a nuclear operator for any damages related to radioactive releases to a maximum of Cdn$75 million. Natural Resources Canada has […]
By Canadian Underwriter | March 10, 2008
Initial estimates are placing insured damage caused by Windstorm Emma which tore through parts of central Europe on Mar. 1 at between EUR300 million (Cdn$455.24 million) and EUR1.3 billion (Cdn$1.973 billion). Windstorm Emma brought with it heavy rain and hurricane-force winds, which caused significant damage to residential buildings, AIR Worldwide Corporation reports. Wind gusts were […]
By Canadian Underwriter | March 7, 2008
In order to respond to the rising costs of climate change-related damages, insurance companies are going to have to focus more on micro-solutions (i.e. on a policyholder-by-policyholder basis), Colin Empke, partner at Blaney McMurtry LLP, told delegates at the Canadian Defence Lawyers 4th annual insurance coverage symposium in Toronto on Feb. 28. Empke was speaking […]
By Canadian Underwriter | February 29, 2008
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.
