Industry
VANCOUVER – The fatal police shooting of a masked man associated with the international hackers’ group Anonymous has set the stage for an unprecedented escalation in online attacks across Canada, says a technology expert. Independent tech analyst Carmi Levy said this incident should be “sounding a very loud alarm” for the Canadian government that is […]
By Canadian Underwriter | July 21, 2015
3 min read
A resilient economy in the United States is shielding North American credit conditions from increasing risks, while the credit outlook for the insurance industry being stable, notes a briefing issued Tuesday by Standard & Poor’s. The report is based on S&P credit conditions committees that meet quarterly to review macroeconomic conditions in four regions, including […]
5 min read
ENCON Group Inc. announced Tuesday it is now offering new commercial crime insurance to protect organizations in Canada from exposure to occupational fraud and theft. The insurance provides a variety of limits based on the size and scope of the risk, notes a statement from managing general agent ENCON Group. Coverage can be added by […]
1 min read
Information technology (IT) executives within critical infrastructure organizations see a need for public-private threat intelligence sharing partnerships to keep pace with escalating cybersecurity threats, according to a survey released on Monday by The Aspen Institute and Intel Security. The survey involved “625 IT decision makers with influence over their organization’s security solutions” in France, Germany, […]
By Canadian Underwriter | July 20, 2015
An influx of alternative capital into the reinsurance market, low interest rates and a desire for geographic expansion are among the factors driving mergers and acquisitions in the insurance industry, A.M. Best Company Inc. suggested in a recent report. “A.M. Best expects industry consolidation to remain at the forefront of the management agenda as companies […]
2 min read
MONTREAL – The advent of competition and new technologies is forcing politicians across Canada to re-evaluate their cities’ taxi industries and to wonder just how many cabs they want on the roads. Big cities are struggling with new entrants such as Uber, a service that allows drivers to work with little overhead costs and to […]
4 min read
The combination of improved underwriting results and higher net investment income helped produce a 12.9% increase in pre-tax operating income for the United States’ property/casualty industry in the first quarter of 2015 over the prior year first quarter, according to a report released on Monday by ratings firm A.M. Best Company. The Best’s Special Report, […]
Technology is set to play an even larger – even transformative – role for commercial lines insurers in the United States to attract, retain and profitably serve clients, notes a new report issued last week by Novarica. Pointing out that commercial insurance is often characterized by complex coverages, heterogeneous exposures and risks, and individually negotiated […]
ST. JOHN’S, N.L. – Canada’s premiers reached a deal Friday on a national energy strategy that supports both project development and the need to act on climate change, ending days of bickering over finding a balance between economic growth and environmental protection. A communique released after the premiers met in St. John’s, N.L., states the […]
By Canadian Underwriter | July 17, 2015
In an effort to encourage shareholders to support a merger with Axis Capital Holdings Ltd., PartnerRe Ltd. announced Thursday it is offering to increase, by 52%, a special dividend that PartnerRe shareholders would get in the event of such a merger. Both of the Pembroke, Bermuda-based companies write reinsurance and commercial primary insurance worldwide. Both […]
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