Industry
The middle market space will be a “robust growth sector” for captive insurance companies in the future, and some will underwrite risks such as crime and political risk that have not traditionally covered by captives, commercial brokerage Marsh Ltd. suggested in a report released Monday. “Captives have been rapidly expanding throughout the middle market space, […]
By Canadian Underwriter | May 11, 2015
4 min read
Atlanta, Georgia-based claims management solutions firm Crawford & Company has reported consolidated revenues before reimbursements of $287.8 million, compared with $275.3 million for first quarter 2014. In the Americas segment, Crawford & Company said in a statement last week that revenues before reimbursements were US$89.5 million, increasing from US$87.9 million in the first quarter of […]
2 min read
Information technology assets are 39% more exposed than property assets on a relative value to insurance protection basis, according to a new study released on Monday by the Ponemon Institute, a privacy, data protection and information security firm in Traverse City, MI. The 2015 Global Cyber Impact Report – sponsored by Aon plc, a global […]
3 min read
LOS ANGELES – Four of the nearly 50 self-driving cars now rolling around California have gotten into accidents since September, when the state began issuing permits for companies to test them on public roads. Two accidents happened while the cars were in control; in the other two, the person who still must be behind the […]
Montreal-based EGR Inc. has announced it is continuing to grow with the acquisition of Labrecque, Brouillette & Castelli Inc., a move the company reports will bolster its positioning in Quebec, especially in Montreal. EGR – a company created January 1, 2015 by damage insurance firms EssOR Insurance, Pratte Morrissette Inc. and Assuraction Inc – has […]
1 min read
Xuber, an international software house that provides commercial insurance software, has found “ongoing soft market conditions to be the most widely-cited challenge facing the global reinsurance industry in 2015.” Xuber, part of London, United Kingdom-based business technology and services provider Xchanging plc, released Xuber’s Global Reinsurance Survey 2015 this week, which polled more than 40 […]
By Canadian Underwriter | May 8, 2015
Rogers Insurance Ltd., under the previously formed Inowest Insurance Brokers Inc. brand, announced on Thursday that it has acquired Sylvan Agencies Ltd., which operates as Sylvan Agencies in Sylvan Lake, Alta. and Procom Insurance in Red Deer, Alta. “The acquisition of these two brokerages expands the commitment Rogers Insurance made to the central Alberta marketplace […]
The Federal Aviation Administration’s (FAA) announcement earlier this week that it is partnering with industry to explore the next steps in drone operations beyond its draft rule published in February could have implications for Canada, Anthony Mormino, senior legal counsel with Swiss Re, told Canadian Underwriter. In particular, the reduction or elimination of the visual […]
If the Supreme Court of Canada does not uphold the British Columbia government’s authority, under the Constitution, to impose immediate licence suspensions on drivers who fail roadside alcohol breathalyzer tests, there could be an increase in collisions and auto claims costs, Insurance Bureau of Canada suggested in a factum submitted to Canada’s highest court. The […]
By Canadian Underwriter | May 7, 2015
5 min read
Echelon Insurance – a Mississauga, Ont.-based company that has operated in the property and casualty insurance industry in Canada since 1997, primarily focusing on non-standard auto insurance and other niche and specialty general insurance products – reported a combined operating ratio of 105.1% for Q1 2015, compared to 99.1% in the first quarter of 2014. […]
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