Industry
Cyber security is “strategically important” to three of four Canadian chief executive officers surveyed, while nearly two-thirds identified cyber threats as a concern, PricewaterhouseCoopers (PwC) LLP suggested in a recent report. PwC released results from the 18th Annual Global CEO Survey, launched at the Annual Meeting of the World Economic Forum in Davos, Switzerland. In […]
By Canadian Underwriter | January 28, 2015
2 min read
WASHINGTON – Three powerful accidents in recent years highlight weaknesses in the oversight of how natural gas providers maintain the largest pipelines in their networks, United States government accident investigators said Wednesday as they issued more than two dozen safety recommendations. A major effort a decade ago by the U.S. government to check a rise […]
3 min read
ACE Limited’s unaudited net income for 2014 Q4 decreased 44.4% from the same quarter in 2013 – US$555 million compared to US$998 million – but officials remain confident in the company’s strategy. Operating income (net of tax) for the quarter ended December 31, 2014 amounted to US$827 million, up 0.4% from US$824 million in the […]
5 min read
With the introduction of its specialty products in Canada, commercial insurer CNA Financial Corp. plans to “build out” its talent base, focusing “primarily” on brokers with whom it already has relationships and expand its offerings to include directors’ and officers’ liability and technology liability, among others, company officials told brokers and reporters Tuesday. Before this […]
Premium pricing for the commercial property/casualty market in the United States was slightly lower in 2014 Q4, closely mirroring the previous quarter, although wind and hail losses continued to be a problem for some regions, note survey results released Tuesday by the Council of Insurance Agents & Brokers (CIAB). “Changes weren’t particularly dramatic last quarter […]
CRU Group Inc. announced Wednesday it has acquired the shares of Toronto-based insurance claims services firm Maltman Group International. “The partners of Maltmans, Tom Dorey, Craig Walker, Randy Ffrench and John Breese will be integral to the continued success of the business,” stated Markham, Ont.-based CRU Group (whose operations include independent claims adjusting firm Catastrophe […]
1 min read
The Aviva Community Fund, the online community funding competition, announced its grand prize winners Tuesday, with insurer Aviva Canada donating $1 million to organizations promoting positive change in various communities across the country. Of the 40 ideas entering the finals, causes ranged from creating storage space for Vancouver’s homeless population, to enhancing a high school field […]
By Canadian Underwriter | January 27, 2015
Axis Capital Holdings Ltd. and PartnerRe Ltd. announced Sunday the boards of directors of both insurance firms unanimously approved a merger agreement, which is subject to shareholder approval. Both Axis and PartnerRe are based in Pembroke, Bermuda. Both insurers operate in Canada from offices in Toronto. The combined company is expected to have “premiums in […]
By Canadian Underwriter | January 26, 2015
MONTREAL – A small Quebec town is wondering why it found itself the target of an Islamic extremist group’s cyberattack after the municipality’s website was compromised for about a dozen hours. The home page for Terrasse-Vaudreuil, a municipality of about 2,000 residents just west of Montreal, was hacked Thursday evening by a group calling itself […]
By Canadian Underwriter | January 23, 2015
Canada’s senior public health officer met Friday with his New Brunswick counterpart to launch a planning exercise intended to test the province’s response in the event of an Ebola case in the province. The federal government said Friday’s exercise was the most recent in a series of meetings and joint exercises, between Canada’s Ebola virus […]
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