Industry
Using the over supply of capital entering the insurance market to cover new and emerging risks, including in developed markets, will be key to staying competitive in the current challenging pricing environment, according to Lloyd’s of London executives. Relationships remain crucial for the Lloyd’s market, but its coverholders, brokers and underwriters must continue to innovate […]
By Canadian Underwriter | October 17, 2014
3 min read
EssOR Insurance, Pratte Morrissette Inc., and Assuraction Inc. have signed an agreement in principle to create a new insurance brokerage entity called EGR. The new company, which will specialize in risk management, insurance and surety bonds, will group together insurance brokerage services for medium and large businesses, including specialized lines, according to a joint statement […]
2 min read
NEW YORK – Individual Americans, rich or not, donated generously in response to many recent international disasters, including the 2010 earthquake in Haiti and last year’s Typhoon Haiyan in the Philippines. The response to the Ebola epidemic is far less robust, and experts are wondering why. There have been some huge gifts from American billionaires […]
By Canadian Underwriter | October 16, 2014
TORONTO – Ontario’s Liberal government insists it can meet a two-year target to cut auto insurance rates even though they’re behind schedule. The government promised to bring the rates down by an average of 15 per cent across the province by August 2015, pledging to meet an eight-per-cent target in the first year. Finance Minister […]
By The Canadian Press | October 16, 2014
Nearly nine in 10 respondents to a recent consumer survey reported that the risk of getting into a vehicle collision due to distracted driving is either a “major “concern” or “somewhat of a concern,” while nearly two in three say they store food, water and flashlights in case of a disaster, according to the second […]
Ironshore International has appointed Paul Primiani as chairman of Ironshore Canada. Primiani is taking on the role from Mark Wheeler, CEO of Ironshore International. Primiani’s career has spanned four decades in the insurance industry, encompassing various underwriting and leadership positions within Canada and the United States. Most recently, he was executive vice president and chief risk officer of GCAN Insurance […]
1 min read
U.K.-based Miller Insurance Services LLP and U.S.-based retail insurance broker William Gallagher Associates (WGA) have announced the availability of Pandemic Disease Business Interruption Insurance. Provided by the Ark Syndicate at Lloyd’s, the insurance would respond to loss of income arising directly out of quarantine shutdowns of healthcare facilities and the diminished revenues in the aftermath […]
An insurance consulting firm is predicting an increased “momentum” in the use by insurers of unmanned aerial vehicles, or drones, while some insurance carriers are also testing driverless cars in order to determine how the technology will redefine risk. Boston-based Strategy Meets Action (SMA) recently released a report titled Emerging Technologies: Reshaping the Next-Gen Insurer. […]
By Canadian Underwriter | October 15, 2014
ACE Group has released a multi-tier offering designed to enable organizations to engage in all levels of preparation to mitigate privacy and network security risks. The launch of Loss Mitigation Services for privacy and network security risks seeks to provide businesses with easy access to tools to tackle privacy and cyber risks when anti-virus software […]
The Insurance Information Institute (III) is encouraging vigilance to mark National Cyber Security Awareness Month in the United States and in the wake of recent figures showing that identity fraud is on the rise for the second consecutive year. Citing figures from the Federal Trade Commission, III reports that identity fraud affected more than 13 […]
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