Industry
CALGARY – A deal has been worked out in a class-action lawsuit filed over an E. coli outbreak and the largest meat recall in Canadian history. The lawsuit is against XL Foods Inc., which operated a meat-packing plant in southern Alberta during a tainted beef recall in 2012. “We’ve reached an agreement on the class […]
By Canadian Underwriter | July 17, 2015
2 min read
Private property and casualty insurers’ net income after taxes grew to US$18.2 billion in the first quarter of 2015 from US$13.9 billion in the first quarter of 2014, according to a report from ISO, a Verisk Analytics, and the Property Casualty Insurers Association of America (PCI). The report, released on Thursday, measured insurers’ overall profitability […]
LOS ANGELES – Google Inc. revealed Thursday that one of its self-driving car prototypes was involved in an injury accident for the first time. In the collision, a Lexus SUV that the tech giant outfitted with sensors and cameras was rear-ended in Google’s home city of Mountain View, where more than 20 prototypes have been […]
3 min read
Aviva Canada announced on Thursday that epost is now available for customers to receive home and auto insurance policies online. Canada Post’s epost digital mailbox allows users to conveniently manage their financial documents in one place with one login and one password. The Centre for Study of Insurance Operations – which last month announced eDelivery, […]
By Canadian Underwriter | July 16, 2015
Cyber risk, interest rates and the regulatory environment rank as the top concerns for the Canadian insurance industry, according to a report from the Centre for Study of Financial Innovation and PwC Canada. The Canadian risk survey, released on Wednesday, found that regulatory risk emerged as the overall top risk for Canadian and global participants […]
By Canadian Underwriter | July 15, 2015
A month after City of Toronto staff reported a “lack of common understanding of risks across the entire organization,” municipal politicians have voted to ask the city’s most senior civil servant to “review options for managing risks on an integrated basis.” During an assessment of risk across City of Toronto public sector organizations, “it became […]
Just over half of all food recalls cost the affected United States companies more than US$10 million, with losses of more than US$100 million possible, according to a report released on Wednesday by Swiss Re. Food Safety in a Globalised World found that the number of recalls per year in the U.S. has almost doubled […]
REGINA – People forced out of their homes by wildfires across northern Saskatchewan are getting temporary relief on overdue payments. Premier Brad Wall says the province’s Crown utilities and its insurance company SGI are waiving bills, premiums and driver’s licence fees until Sept. 1. He says SaskTel, SaskPower and SaskEnergy won’t go ahead with collection […]
By The Canadian Press | July 14, 2015
1 min read
More than half of large financial service institutions surveyed for a new report by Accenture expect to invest at least US$200 million on projects to overhaul how they do business to address global structural reform (GSR) regulations this year, with nearly one-third expecting to spend at least US$500 million. Released on Tuesday, the Accenture 2015 […]
By Canadian Underwriter | July 14, 2015
Nearly one in three Canadians surveyed said they think fatigue is the “most common form of impaired driving,” while a majority think that driving 15 kilometres per hour or more over the limit is an excessive speed on city streets, State Farm Canada suggested in a survey released Tuesday. Canadian Driving Habits, a survey released […]
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