Risk

U.S. traffic fatalities up 7.2% in 2015 from previous year, ending five-decade decline: NHTSA

More than 35,000 people in the United States lost their lives in traffic crashes in the United States last year, ending a five-decade trend of declining fatalities, the National Highway Traffic Safety Administration (NHTSA) reported on Monday. A total of 35,092 lost their lives in traffic crashes in 2015, a 7.2% increase in deaths from […]

By Canadian Underwriter | August 30, 2016

3 min read

Risk

Canadian banks shake off oilpatch fears, report better than expected earnings

TORONTO – Panic about how the oil price shock could affect the banks’ bottom lines has subsided, as several of the country’s largest financial institutions reported better-than-expected third-quarter results. CIBC (TSX:CM) reported that its quarterly profit climbed nearly 50 per cent from a year ago to $1.44 billion, although much of the jump came from […]

By Jason Contant | August 26, 2016

3 min read

Risk

S&P warns of corporate bond ratings cuts, U.S. firms ‘drowning in debt’

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

Risk

TSB releases proceedings on transportation safety summit

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 […]

By Canadian Underwriter | August 25, 2016

3 min read

Toronto freight train derailment on ‘major link’ between Port of Montreal, Central Canada

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 […]

5 min read

A.M. Best releases methodology publication on insurance-linked securities

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 […]

2 min read

Spread of Zika virus brings new risks to U.S. carriers, insureds

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 […]

3 min read

Ottawa seeks feedback on agriculture policy framework, including risk mitigation

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 […]

2 min read

Transportation Safety Board investigating 12 marine incidents in Canada, attributes some deaths to lack of risk assessments

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 […]

5 min read

Ottawa should require small fishing boats to have radios that automatically alert search-and-rescue: Transportation Safety Board

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 […]

3 min read