Industry
Insurers can reduce catastrophe model uncertainty and better estimate risk by adopting a multi-model approach, a Guy Carpenter report says.In Managing Catastrophe Model Uncertainty: Issues and Challenges, Guy Carpenter examines three strategies for using multiple models to narrow the “uncertainty band” inherent with the use of cat models. The uncertainty band is the plausible range […]
By Canadian Underwriter | December 8, 2011
2 min read
Travelers Canada has launched a product designed to limit cyber exposures and manage associated risks.‘CyberRisk’ is the newest addition to Travelers Financial and Professional Services line. It’s a standalone product with 10 coverage options that address exposures and the ripple effects associated with a cyber-related event. Third party liability coverage includes network and information security […]
1 min read
Aviva Canada Inc. and Hagerty Canada LLC have partnered to launch the ‘Hagerty Silver Wheel Plan.’The plan offers Canadian antique and classic car enthusiasts extensive coverage, including agreed value coverage – with no appraisal requirements – and access to Hagerty’s extensive network of products and resources in the United States. As of Jan. 1, 2012, […]
Standard & Poor’s continues to view terrorism risk as a critical component in its assessment of an insurer’s financial strength, saying a man-made catastrophe would most likely be a capital event rather than an earnings event.Standard & Poor’s made the observation in a report released on Dec. 8 entitled, Ten Years Later, Terrorism Exposure Remains […]
Young drivers aged 16 to 24 overwhelmingly agreed they would not be able to drive safely after consuming alcohol, a Road Safety Monitor poll by the Traffic Injury Research Foundation (TIRF) found. The public opinion poll investigated a variety of drinking and driving behaviours and attitudes among youth, including riding with a drunk driver. Of […]
By Canadian Underwriter | December 7, 2011
Companies expect to see corporate use of social media expand over the next year, including in marketing efforts, but many do not have a plan in place to deal with the risks. Financial Executives Research Foundation Inc. (FERF), working in partnership with Grant Thornton LLP, developed a 23-question online survey and conducted in-depth interviews to […]
Chesterfield Canada Inc. has launched a mobile plant and machinery equipment floater program. The product is designed to pay for loss or damage to an insured’s mobile plant in the event of an accident and is broad form “all-risks” cover. In some instances, coverage can be extended to include equipment breakdown and any resultant loss. […]
DAS Canada is offering small and mid-sized Ontario businesses free legal advice during the week of Dec. 5.Business owners can call the company’s legal hotline, where they will be connected with a lawyer to answer their business-related legal questions, free of charge. Questions can range from employment disputes to unpaid receivables to health and safety […]
Freight forwarders and other transport intermediaries face increasingly significant liability risk, particularly in emerging markets, as they tackle additional supply chain services for their customers, warns international transport liability insurer TT Club.Manufacturers, retailers and other users of transport and logistics services are expecting their suppliers to undertake new complex risks as they outsource more of […]
Ellen Moore of Chubb Insurance Company of Canada and Marilyn McLaren of Manitoba Public Insurance (MPI) were among the recipients of The Women’s Executive Network (WXN)’s 2011 Canada’s Most Powerful Women: Top 100 Awards.Co-presented by Scotiabank and KPMG, the awards are bestowed on Canada’s highest achieving female leaders in the private, public and not-for-profit sectors. […]
By Canadian Underwriter | December 6, 2011
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