Risk

AGCS expands terrorism, political violence insurance offering in the U.S.

Allianz Global Corporate & Specialty (AGCS) is now providing bespoke coverage designed to protect U.S. businesses faced with loss related to terrorism and political violence both at home and overseas. Given the recent tragic events in Europe and Virginia, the enhanced policy guidelines now mean coverage exists for incidents committed by a single attacker or […]

By Canadian Underwriter | August 24, 2017

2 min read

Risk

Tug vessels that collided had no formal safety management systems: TSB

A May, 2016 collision between two logging tugs near Nanaimo, British Columbia demonstrates that some marine firms are “not effectively managing their safety risks,” the Transportation Safety Board of Canada said in a report released Thursday. On May 24, 2016, the C.T. Titan and Albern were assigned to log yarding operations at Gabriola Bluffs, off the east coast of […]

By Canadian Underwriter | August 21, 2017

4 min read

Risk

Big increase in U.K. start-ups, but insurance coverage lacking for many small businesses

A new survey out of the U.K. shows that self-employment is racing forward, but moves by small businesses to ensure they have insurance in place to address whatever risks may arise is lagging far behind. A wider spectrum of small businesses – defined as sole traders or those with fewer than nine employees – are […]

By Canadian Underwriter | August 18, 2017

3 min read

Risk

U.S. P&C industry sustains favourable rating activity in H1 2017: A.M. Best

Credit rating activity for the United States’ property and casualty industry in the first half of 2017 was favourable, with upgrades outpacing downgrades, A.M. Best Company reported on Thursday. Nearly one-third of the 2017 upgrades were driven by “increased parental support, ongoing mergers and acquisitions (M&A) and the generally enhanced importance of companies within specific […]

By Canadian Underwriter | August 17, 2017

2 min read

80% of polled Canadians not properly insuring belongings when moving to new homes

Eight of 10 Canadians taking part in a survey from Square One Insurance Services Inc. report not properly insuring their belongings while moving to their new homes. With more than 300,000 Canadians moving to new homes in different provinces each year, Ontario had the largest portion of new residents at 27% in 2016, followed by […]

2 min read

TSB urges fishing industry to recognize ‘interdependency among safety issues’

The frequency of fatal accidents involving Canadian fishing vessels is too high and crew members will continue to be at risk until “the complex relationship and interdependency among safety issues is recognized and addressed,” the Transportation Safety Board of Canada said in a recent report into the death of a fishing vessel operator in 2016 […]

3 min read

Cat bond issuance in Q2 reaches US$6.38 billion across 20 transactions, easily surpassing Q2 2014 record of US$4.49 billion: Aon Securities

Catastrophe bond issuance during the second quarter of 2017 totalled US$6.38 billion across 20 transactions, a new record for quarterly issuance that easily surpassed the previous record of US$4.49 billion set in Q2 2014, Aon Securities said in a new report. Aon Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon […]

2 min read

Arthur J. Gallagher reports brokerage revenues of US$998.1 million for Q2 2017

Arthur J. Gallagher & Co. (AJG) has reported Brokerage revenues of US$998.1 million for the second quarter of 2017, up from US$997 million in the same quarter last year. Net earnings for the Brokerage segment for the quarter ending June 30 were US$139.5 million, up from US$114.9 million in Q2 2016, Rolling Meadows, Ill.-based AJG […]

2 min read

U.S./Canada division of Marsh sees revenues increase to US$850 million in Q2 2017 from US$804 million in Q2 2016

Revenue for the United States and Canada division of Marsh increased to US$850 million in the second quarter of 2017 from US$804 million in the same quarter last year, Marsh & McLennan Companies (MMC) reported on Thursday. MMC, whose companies includes Marsh, Guy Carpenter, Mercer and Oliver Wyman, reported in its financial results that consolidated […]

3 min read

Lack of safety management systems found in “numerous” marine, aviation accident investigations: TSB

Fifteen years after four passengers drowned in an accident aboard an amphibious sightseeing vehicle across the Ottawa River from the nation’s capital, the Transportation Safety Board of Canada warned Thursday that there has “been only limited progress” on expanding the application of safety management systems “to a broader range of companies.” In its annual report […]

4 min read