Industry
Capital continues to be drawn to the reinsurance industry despite the fact that fundamentals are trending in the wrong direction, suggests a special report issued Monday by A.M. Best. The annual segment review of the global reinsurance industry – How Relevant Is The Underwriting Cycle? – explores whether or not the traditional underwriting cycle has […]
By Canadian Underwriter | September 9, 2014
5 min read
GENEVA – Carbon dioxide levels in the atmosphere reached a record high in 2013 and weather is becoming more extreme due to fossil fuel burning, the World Meteorological Organization warned Tuesday. As the heat-trapping gas blamed for the largest share of global warming, carbon dioxide rose to global concentrations of 396 parts per million last […]
3 min read
Nearly three in four respondents to a survey commissioned by insurance firm The Chubb Corp. said they were concerned that unmanned aerial vehicles could damage property and the majority do not want businesses operating drones. Warren, N.J.-based Chubb announced Monday the results of the survey, of 1,000 adults, conducted by ORC International. “Close to three-fourths […]
2 min read
ACE Group recently announced it has a company-wide goal of reducing greenhouse gas emissions by 10% per employee from 2012 to 2020. “To achieve its new goal, ACE will continue to deploy the approaches it has used successfully to date, including installing energy-efficient lighting and equipment and more efficient use of office space,” the Zurich, Switzerland-based […]
1 min read
VANCOUVER — Fisheries and Oceans Canada is looking for someone to map the ocean floor near the British Columbia coast, an area it says could be affected by spills with the expected increase in tanker traffic. The department issued a request for proposals Friday for initial steps toward mapping the inlets, islands, reefs and intertidal […]
By Canadian Underwriter | September 8, 2014
The Government of Nova Scotia announced Sept. 3 that it plans to introduce legislation this fall to prohibit high-volume hydraulic fracturing for onshore shale oil and gas at this time, a decision that energy minister Andrew Younger noted in an op-ed piece the next day reflects the wants of provincial citizens. “Nova Scotians have clearly […]
Aon Benfield released Monday financial data for its aggregate of 31 global reinsurers, reporting the combined ratio was 90.3% in the first half of 2014, up 0.4 points from the first six months of 2013, while gross written premiums were $128 billion, up 17% from the same period in 2013. All figures are in United […]
British Columbia has moved forward with a new advertising campaign and enhanced police enforcement into the dangers posed by distracted driving. The effort – launched last week by the B.C. government, the Insurance Corporation of British Columbia (ICBC) and police – seeks to answer the results of driver distractions, which on average, kills 88 people […]
LexisNexis Risk Solutions recently released results of a survey in which more than two-thirds of respondents expressed concerns that telematics vehicle technology could give their insurance carrier too much information. LexisNexis, a unit of Reed Elsevier plc, commissioned surveys of both consumer auto policyholders and commercial policy decision makers coordinating vehicle fleets. When asked about […]
By Canadian Underwriter | September 5, 2014
AURORA, Ont. — Four men are facing charges after police say more than 40 vehicles were stolen from commuter parking lots across the Greater Toronto Area. York Regional Police began an investigation in early June into what they say were “multiple sophisticated auto thefts” from the parking lots. Investigators say the thieves targeted imported automobiles […]
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