Industry
Economical Insurance’s intention to demutualize comes down to the belief that the insurer must be big enough and flexible enough to maintain its presence in Canada’s changing property and casualty space, senior vice president and chief operating officer Tom Reikman suggested during a presentation Thursday. Looking at the landscape, perhaps 10 years from now, “you’re […]
By Canadian Underwriter | April 17, 2015
4 min read
BRADFORD, England – The circumstances surrounding one of England’s worst sporting disasters could be re-examined following allegations that the fire at a soccer stadium which killed 56 people in 1985 may have been started deliberately. A newly published book, written by a man who escaped the blaze at Bradford City’s Valley Parade stadium, says it […]
By Canadian Underwriter | April 16, 2015
3 min read
Like life insurance, the Canadian market for property & casualty insurance – for personal and small commercial lines – will eventually be “dominated” by two or three major firms, the head of Desjardins General Insurance Group Inc. suggested to insurance professionals Thursday. Sylvie Paquette (pictured), DGIG’s president and chief operating officer, was the luncheon keynote […]
Referral fee and contingency fee arrangements from personal injury lawyers should be filed with the Superintendent of Insurance for review of the impact on auto premiums in Ontario, suggested Ralph Palumbo, vice president, Ontario, with the Insurance Bureau of Canada. The suggestion, in an interview with Canadian Underwriter on Wednesday, came less than a week […]
2 min read
Symantec reports that a tactical shift in cyber crime unfolded in 2014, with attackers moving to infiltrate networks and evade detection by hijacking the infrastructure of major corporations and using it against them. “We’re seeing attackers trick companies into infecting themselves by Trojanizing software updates to common programs and patiently waiting for their targets to […]
5 min read
The government of Newfoundland and Labrador is continuing to risk lives by not including fencing in their new moose management plan, says a group that lobbies to reduce vehicle crashes involving moose. The five-year initiative is designed to minimize conflicts between people and moose on the island of Newfoundland while maintaining the moose population and […]
By Canadian Underwriter | April 15, 2015
Willis Group Holdings plc, a global risk advisor insurance and reinsurance broker, expects property and casualty insurance buyers to experience largely buyer-friendly market conditions on most business lines for the remainder of the year, due in part to light cat losses and a robust supply of capital from traditional and non-traditional sources, the company said […]
Less than three months after it announced an agreement to merge with Axis Capital Holdings Ltd., PartnerRe Ltd. announced Tuesday it has received a US$6.4 billion acquisition offer from EXOR S.p.A., the Italian investment firm that effectively controls Fiat-Chrysler Automobile. PartnerRe, based in Pembroke, Bermuda, has an operating branch in Toronto and provides both life […]
The premiers of Canada in attendance at the Quebec Summit on Climate Change have agreed to commit to the implementation of programs and measures to adapt to climate change and reduce greenhouse gas (GHG) emissions, among other items. In a declaration posted online on Quebec Premier Philippe Couillard’s website on Tuesday, the Canadian premiers – […]
Cyber attackers can compromise an organization within minutes in the majority of breaches, a situation made worse by the continuing “detection deficit” that exists, suggests a new report issued Wednesday by Verizon Enterprise Solutions. As in prior reports, Verizon’s 2015 Data Breach Investigations Report cites the ongoing challenge of the time that elapses between a […]
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