Insurance Roundup, July 16, 2018

General Insurance

Global Risk Insights

  • What Trump’s actions at the G7 summit mean for multilateralism
    by Diana Anton on 2018-07-10 at 08:00With Donald Trump refusing to sign the G7 Communique in Charlevoix, Quebec, the traditional balance of power within the G7 countries has been upset, placing the future of multilateralism in danger. The post What Trump’s actions at the G7 summit mean for multilateralism appeared first on […]

  • The Week Ahead: 8 – 14 July 2018
    by Global Risk Insights on 2018-07-09 at 20:04Trump chooses the next Supreme Court Justice. Italy, Germany, and Austria meet to hash out refugee migrant border plan. All in The Week Ahead.  UNITED STATES: Trump Supreme Court pick could The post The Week Ahead: 8 – 14 July 2018 appeared first on Global Risk Insights. […]

  • India’s concerns over the strengthened China-Maldives relations
    by Malvika Singh on 2018-07-09 at 18:46The Republic of Maldives is an important member of the SAARC and offers key strategic value to its allies, especially India. This article examines how a souring in relations between Malé and New Delhi, along with an unprecedented Chinese presence in the archipelago, raises geopolitical risks […]

Claims Journal

Insurance Journal

Asia Insurance Review

Canadian Underwriter

  • Dozens of forest fires continue in northern Ontario
    by Canadian Underwriter on 2018-07-13 at 19:42TORONTO – The mayor of a northern Ontario community says residents have been allowed to return to homes they were forced to leave earlier this week as forest fires burned nearby. But Lorie Hunter, the mayor of Temagami, Ont., says… The post Dozens of forest fires continue in northern […]

  • Two 100-year-old mutual insurers vote to amalgamate
    by David Gambrill on 2018-07-13 at 19:27Norfolk Mutual Insurance Company and Wabisa Mutual Insurance Company in Ontario have voted to amalgamate under the new name “Nova Mutual.” The two mutuals held separate special general meetings Tuesday on the proposed amalgamation, scheduled to take effect January 1,… The post […]

  • Cyber catastrophe bonds: Coming soon?
    by Greg Meckbach on 2018-07-13 at 19:13With computer security incidents causing business interruption and privacy breaches, there is a “very real possibility” that a catastrophe bond covering cyber risk might be available, the head of a cyber risk modelling vendor predicts. Catastrophe bonds are a form… The post Cyber […]

  • Fine for broker in business interruption coverage mix-up
    by David Gambrill on 2018-07-13 at 18:49A $500 fine against a Manitoba broker illustrates the importance of documenting conversations with a client when advising on business interruption coverage in a commercial insurance policy. The broker, Edward Tetrault, provided a quote to his commercial business client on… The post Fine for […]

  • End of the line for auto injury lawsuit over restaurant tip income
    by Greg Meckbach on 2018-07-13 at 18:47A former restaurant server who sought a $3.8-million award after being hit by a car has lost her bid to have her lawsuit heard by the Supreme Court of Canada. The Supreme Court of Canada announced Thursday it has dismissed… The post End of the line for auto injury lawsuit over restaurant tip […]

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Insurance Roundup, July 13, 2018

General Insurance

Global Risk Insights

  • What Trump’s actions at the G7 summit mean for multilateralism
    by Diana Anton on 2018-07-10 at 08:00With Donald Trump refusing to sign the G7 Communique in Charlevoix, Quebec, the traditional balance of power within the G7 countries has been upset, placing the future of multilateralism in danger. The post What Trump’s actions at the G7 summit mean for multilateralism appeared first on […]

  • The Week Ahead: 8 – 14 July 2018
    by Global Risk Insights on 2018-07-09 at 20:04Trump chooses the next Supreme Court Justice. Italy, Germany, and Austria meet to hash out refugee migrant border plan. All in The Week Ahead.  UNITED STATES: Trump Supreme Court pick could The post The Week Ahead: 8 – 14 July 2018 appeared first on Global Risk Insights. […]

  • India’s concerns over the strengthened China-Maldives relations
    by Malvika Singh on 2018-07-09 at 18:46The Republic of Maldives is an important member of the SAARC and offers key strategic value to its allies, especially India. This article examines how a souring in relations between Malé and New Delhi, along with an unprecedented Chinese presence in the archipelago, raises geopolitical risks […]

Claims Journal

  • Four Ways that AI Enables Insurers to Differentiate
    by Mark Rusch, vice president of Insurance at GoodData on 2018-07-12 at 14:39Insurance companies are generating more data than ever before, and the value of that data is rapidly increasing as new products are able to properly analyze and make use of it. Beyond traditional analytics, one way that data can deliver […]

  • Study Finds Parents Can’t Stop Texting Behind the Wheel
    by Riley Griffin on 2018-07-12 at 13:49There has been a historic surge in U.S. traffic fatalities over the last four years as more drivers use their phones to respond to texts or scroll through Instagram feeds. Even parents can’t keep keep their hands on the wheel […]

  • Odds of El Nino Rises
    by Brian K. Sullivan on 2018-07-12 at 13:37It’s increasingly likely an El Nino will form this year in the equatorial Pacific to roil global weather patterns and threaten natural gas and agricultural markets, the U.S. Climate Prediction Center said in a report. There’s now a 70 percent […]

  • NTSB Quizzes Officials on Deadly Washington Amtrak Train Wreck
    by PHUONG LE on 2018-07-12 at 13:01Federal safety investigators on Tuesday questioned transportation officials about last year’s Amtrak train derailment south of Seattle that killed three people and injured dozens, focusing some questions on the curve where the train derailed. The Amtrak train was recorded at […]

  • NICB Releases 2017 Hot Spots Vehicle Theft Report
    on 2018-07-12 at 08:39The Albuquerque, N.M. metropolitan statistical area (MSA) maintained its top ranking with the highest per capita auto theft rate in 2017, according to the National Insurance Crime Bureau’s (NICB) latest Hot Spots report. Hot Spots examines vehicle theft data obtained […]

  • Safety Concerns Keep 4 Kansas Water Park Rides Shut Down
    on 2018-07-12 at 08:20Four rides at a Kansas water park where a 10-year-old boy was decapitated remain closed two months after auditors found that the rides did not comply with state requirements for amusement park rides. Permits for the four rides at the […]

  • People News: Navigators, GEICO, CM Regent
    on 2018-07-12 at 08:01Navigators Announces Promotions Joe Savarese has been promoted to president, U.S. Specialty Primary Casualty. He will be responsible for driving the strategy and development of Navigators’ Specialty Primary Casualty product portfolio across the U.S. wholesale market. Since joining Navigators […]

Insurance Journal

Asia Insurance Review

Canadian Underwriter

  • Tobacco liability threat faces major convenience store chain and gas stations
    by Greg Meckbach on 2018-07-12 at 21:17The Canadian corporate owner of nearly 13,000 convenience stores and gas stations is warning it could be sued as a result of selling cigarettes. Alimentation Couche-Tard Inc. “could be sued for health problems caused by the use of tobacco products,”… The post Tobacco liability […]

  • How to advise your clients on backwater valves
    by Greg Meckbach on 2018-07-12 at 21:09It’s all well and fine if your homeowner clients have backwater valves, but are they alarmed? An alarm that tells occupants that a backwater valve has been activated “can be a very simple way to let people know if the… The post How to advise your clients on backwater valves […]

  • Tips for brokers on insuring high-value homes
    by David Gambrill on 2018-07-12 at 21:07High-value homes are good for business, knowing how to rate them properly is a must. Brokers need to be aware that high-value, custom-built homes or renovations should not be put on Standard Build when determining insurance to value, a broker… The post Tips for brokers on insuring high-value […]

  • How blockchain will help brokers bypass traditional insurers
    by David Gambrill on 2018-07-12 at 20:15Fineqia International Inc. has taken an equity allocation in Black Insurance, a Vancouver-based digital insurance startup on the blockchain that has set its sights on creating a direct investor-to-broker relationship, bypassing the need for a traditional insurance company. Terms of… The post […]

  •  ‘Potential risk’ to Toronto area prompts increased police presence
    by Canadian Underwriter on 2018-07-12 at 20:12Information about a “potential risk” in the Greater Toronto Area (GTA) led to an increase in police presence in Toronto’s downtown core on Thursday, but officers insisted the public should not avoid any of the city’s attractions, prompting confusion among… The post […]

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Insurance Roundup, July 12, 2018

General Insurance

Global Risk Insights

  • What Trump’s actions at the G7 summit mean for multilateralism
    by Diana Anton on 2018-07-10 at 08:00With Donald Trump refusing to sign the G7 Communique in Charlevoix, Quebec, the traditional balance of power within the G7 countries has been upset, placing the future of multilateralism in danger. The post What Trump’s actions at the G7 summit mean for multilateralism appeared first on […]

  • The Week Ahead: 8 – 14 July 2018
    by Global Risk Insights on 2018-07-09 at 20:04Trump chooses the next Supreme Court Justice. Italy, Germany, and Austria meet to hash out refugee migrant border plan. All in The Week Ahead.  UNITED STATES: Trump Supreme Court pick could The post The Week Ahead: 8 – 14 July 2018 appeared first on Global Risk Insights. […]

  • India’s concerns over the strengthened China-Maldives relations
    by Malvika Singh on 2018-07-09 at 18:46The Republic of Maldives is an important member of the SAARC and offers key strategic value to its allies, especially India. This article examines how a souring in relations between Malé and New Delhi, along with an unprecedented Chinese presence in the archipelago, raises geopolitical risks […]

  • Iran’s waning involvement in the South Caucasus
    by Philip Rohrs-Weist on 2018-07-05 at 15:05With the JCPOA finalized in 2015, Iran seemed to finally build on its potential to become a shaping actor in the South Caucasus. Yet the scrapping of the JCPOA in April 2018 threatens to disillusion those who were optimistic about new trading and investment opportunities. Under growing pressure, […]

  • Post-conflict Colombia looks towards the future
    by Steven Spinello on 2018-07-04 at 14:47The election of Ivan Duque could represent a pivot point in post-Conflict Colombia. How effectively his administration handles the ongoing implementation of the 2016 peace agreement with the FARC may presage the ultimate success or failure of his presidency. The post Post-conflict Colombia looks […]

Claims Journal

  • Teen Crash Risk Highest First 3 Months After Getting Driver’s License
    on 2018-07-11 at 16:15Teenage drivers are eight times more likely to be involved in a collision or near miss during the first three months after getting a driver’s license, compared to the previous three months on a learner’s permit, suggests a study led […]

  • Kansas Family’s Insurance Pays After Boy Topples Sculpture
    on 2018-07-11 at 14:23A Kansas city has received $107,000 from a family’s insurance company after a 5-year-old boy accidentally knocked over a $132,000 sculpture at a community center. Sarah Goodman tells the Kansas City Star the incident happened last month at Overland Park’s […]

  • Smarter, Safer Bridges With Sensors
    on 2018-07-11 at 09:50Along with flying cars and instantaneous teleportation, smart bridges, roads and subway lines that can send out warnings when they’re damaged are staples of futuristic transportation systems in science fiction. Sandia National Laboratories has worked with Structural Monitoring Systems PLC, […]

  • Amtrak Rail Cars in Fatal Washington Crash Didn’t Meet Current Standards
    by Alan Levin on 2018-07-11 at 09:28The passenger rail cars on an Amtrak train that derailed near Seattle last December while traveling more than twice the posted speed, killing three people, didn’t meet current crash-protection standards, federal investigators said Tuesday. The Talgo Inc. cars had to […]

  • Colorado Campaigns Aim to Curb Auto-Pedestrian Deaths
    by BRANDON JOHNASSON, The Aurora Sentinel on 2018-07-11 at 08:25Twice in a week this month in unrelated collisions, cars barreled into pedestrians on East Colfax Avenue, in Aurora, killing one man and seriously hurting another. And investigators say those two crashes are far from outliers. They’re part of a […]

  • Aon: U.S. Cyber Insurance Premiums Rise 37%, to $1.84B
    on 2018-07-11 at 08:22A new study released by Aon, a global professional services firm providing a broad range of risk products, indicates that cyber remained a profitable line of business, as industry loss ratios decreased in 2017 – from 47.6 percent to 32.4 […]

  • Supercomputers Measure Quake Risk Across San Francisco Bay Area
    on 2018-07-11 at 05:00Scientists and engineers are simulating precisely how a large-magnitude earthquake along the Hayward Fault would affect different locations and buildings across the San Francisco Bay Area. A team from Lawrence Berkeley National Laboratory and Lawrence Livermore National Laboratory, both U.S. […]

Insurance Journal

Asia Insurance Review

  • China: Anbang considers sale of Belgian insurer
    on 2018-07-12 at 15:26Anbang Insurance Group is exploring a sale of Belgian insurer Fidea, people with knowledge of the matter said, in what would be the troubled Chinese insurer’s first European divestment since it was seized by the government last February. […]

  • Global: Lloyd’s launches new digital distribution platform
    on 2018-07-12 at 15:26Lloyd’s, the world’s insurance and reinsurance market, has launched a new digital distribution platform — Lloyd’s Bridge. […]

  • Japan: Impact of heavy rain seen as small on P&C insurers
    on 2018-07-12 at 15:26While the floods caused by the heavy rain in western Japan in recent days are credit negative for Japanese P&C insurers — because of the losses from property and business interruption coverage — the overall credit impact on insurers is seen as small, says Mr Soichiro Makimoto, Vice President […]

  • India: Regulator postpones decision on reinsurance order of preference
    on 2018-07-12 at 15:26Foreign reinsurers which have a branch licence in India will have to wait longer to get clarity on the right to first preference in reinsurance treaties in India. […]

  • Australia: Standards authority issues draft financial adviser exam guidance
    on 2018-07-12 at 15:26The Financial Adviser Standards and Ethics Authority (FASEA) yesterday released its draft guidance on the Financial Adviser Examination. The examination is an essential component of the educational qualifications that all advisers will need to pass before they can provide personal advice to retail […]

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Insurance Roundup, July 11, 2018

General Insurance

Global Risk Insights

  • What Trump’s actions at the G7 summit mean for multilateralism
    by Diana Anton on 2018-07-10 at 08:00With Donald Trump refusing to sign the G7 Communique in Charlevoix, Quebec, the traditional balance of power within the G7 countries has been upset, placing the future of multilateralism in danger. The post What Trump’s actions at the G7 summit mean for multilateralism appeared first on […]

  • The Week Ahead: 8 – 14 July 2018
    by Global Risk Insights on 2018-07-09 at 20:04Trump chooses the next Supreme Court Justice. Italy, Germany, and Austria meet to hash out refugee migrant border plan. All in The Week Ahead.  UNITED STATES: Trump Supreme Court pick could The post The Week Ahead: 8 – 14 July 2018 appeared first on Global Risk Insights. […]

  • India’s concerns over the strengthened China-Maldives relations
    by Malvika Singh on 2018-07-09 at 18:46The Republic of Maldives is an important member of the SAARC and offers key strategic value to its allies, especially India. This article examines how a souring in relations between Malé and New Delhi, along with an unprecedented Chinese presence in the archipelago, raises geopolitical risks […]

  • Iran’s waning involvement in the South Caucasus
    by Philip Rohrs-Weist on 2018-07-05 at 15:05With the JCPOA finalized in 2015, Iran seemed to finally build on its potential to become a shaping actor in the South Caucasus. Yet the scrapping of the JCPOA in April 2018 threatens to disillusion those who were optimistic about new trading and investment opportunities. Under growing pressure, […]

  • Post-conflict Colombia looks towards the future
    by Steven Spinello on 2018-07-04 at 14:47The election of Ivan Duque could represent a pivot point in post-Conflict Colombia. How effectively his administration handles the ongoing implementation of the 2016 peace agreement with the FARC may presage the ultimate success or failure of his presidency. The post Post-conflict Colombia looks […]

Claims Journal

  • Supercomputers Measure Quake Risk Across San Francisco Bay Area
    on 2018-07-11 at 05:00Scientists and engineers are simulating precisely how a large-magnitude earthquake along the Hayward Fault would affect different locations and buildings across the San Francisco Bay Area. A team from Lawrence Berkeley National Laboratory and Lawrence Livermore National Laboratory, both U.S. […]

  • Startup Plans to Analyze Rising Sea Levels to Aid Florida Homeowners
    by KIMBERLY MILLER, Palm Beach Post on 2018-07-10 at 13:47From the frothy assault of the Atlantic Ocean to the placid trespass of the Lake Worth Lagoon, sea level rise is a mounting concern for South Florida property buyers who are turning to science, and private companies, for guidance. The […]

  • North Dakota Farmers Want Change in Crop Insurance Payments
    on 2018-07-10 at 08:46North Dakota’s largest farm group is pushing for adjustments to crop insurance payments to protect farmers from international trade retaliations. The U.S. House and Senate versions of a new Farm Bill are heading to conference committee. The North Dakota Farmers […]

  • Lawyer Compares 2014 Arrest at Vegas Hotel to Mass Shooting Case
    by KEN RITTER on 2018-07-10 at 08:41The arrest of a man in 2014 with multiple weapons in an upper-floor room at a Las Vegas Strip resort should have led to tightened hotel security and prevented a shooting last October from the same hotel that killed 58 […]

  • U.S. Postal Service Will Pay $3.5M for Stamp Copyright Infringement Case
    by MICHELLE L. PRICE on 2018-07-10 at 08:00A stamp that mistakenly featured the image of a Statue of Liberty replica in Las Vegas instead of the original New York Statue will cost the U.S. Postal Service $3.5 million in a copyright infringement lawsuit. Las Vegas sculptor Robert […]

  • Top Private Flood Insurers and Market Report
    on 2018-07-10 at 05:00During 2017, the private flood insurance market expanded considerably with 50 new carriers. In total, insurers reported direct private flood insurance premiums written of $630 million, an increase of $217 million over 2016. That’s according to Insurance Journal’s Top Private […]

  • Arkansas Licenses 3 New Property Insurers; That’s 10 for Year
    on 2018-07-10 at 05:00Three new property/casualty insurance companies have been approved to do business in Arkansas, the state insurance department reported. All three are based in Florida. Counting the recently accepted companies, 10 new insurers have been approved to enter the Arkansas insurance […]

Insurance Journal

Asia Insurance Review

Canadian Underwriter

  • Parents of Humboldt Broncos player killed in crash sue truck driver, bus maker
    by Canadian Underwriter on 2018-07-10 at 20:26REGINA – The family of one of the Humboldt Broncos players killed in a highway crash has filed a lawsuit alleging a semi-truck driver with inadequate training failed to stop at a flashing stop sign at a rural intersection hidden… The post Parents of Humboldt Broncos player killed in […]

  • Tropical Storm Chris could make landfall on Newfoundland
    by Greg Meckbach on 2018-07-10 at 20:07Newfoundland’s Avalon Peninsula could get wind gusts of up to 100 km/h this week as a result of Tropical Storm Chris, which is expected to be upgraded to hurricane status Tuesday. Tropical Storm Chris was in the Atlantic Ocean more… The post Tropical Storm Chris could make landfall on […]

  • Insurers subsidize Toronto basement flood pilot
    by Greg Meckbach on 2018-07-10 at 20:06A pilot program aimed at getting homeowners to reduce basement flood risk is getting a subsidy from the Insurance Bureau of Canada and Intact Centre for Climate Adaptation. The Toronto Home Resilience Program, which involves 200 homeowners, aims “help home… The post Insurers subsidize […]

  • Where capacity is tightening in general liability lines
    by David Gambrill on 2018-07-10 at 19:29In general liability lines, where pricing and competition are still healthy, brokers are more likely to notice windows of opportunity that are now starting to close – particularly in the hot tar and hospitality lines. “Competition is out there, capacity… The post Where capacity […]

  • How this insurer fared against a drunk driver’s “regurgitation” defence
    by David Gambrill on 2018-07-10 at 19:26After a drunk driver regurgitates alcohol from the stomach to the mouth, taking a breathalyzer test just seconds shy of a 15-minute wait period doesn’t necessarily render the test invalid, a B.C. court has found. In reaching its conclusion, the… The post How this insurer fared against […]

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Insurance Roundup, July 10, 2018

General Insurance

Global Risk Insights

  • What Trump’s actions at the G7 summit mean for multilateralism
    by Diana Anton on 2018-07-10 at 08:00With Donald Trump refusing to sign the G7 Communique in Charlevoix, Quebec, the traditional balance of power within the G7 countries has been upset, placing the future of multilateralism in danger. The post What Trump’s actions at the G7 summit mean for multilateralism appeared first on […]

  • The Week Ahead: 8 – 14 July 2018
    by Global Risk Insights on 2018-07-09 at 20:04Trump chooses the next Supreme Court Justice. Italy, Germany, and Austria meet to hash out refugee migrant border plan. All in The Week Ahead.  UNITED STATES: Trump Supreme Court pick could The post The Week Ahead: 8 – 14 July 2018 appeared first on Global Risk Insights. […]

  • India’s concerns over the strengthened China-Maldives relations
    by Malvika Singh on 2018-07-09 at 18:46The Republic of Maldives is an important member of the SAARC and offers key strategic value to its allies, especially India. This article examines how a souring in relations between Malé and New Delhi, along with an unprecedented Chinese presence in the archipelago, raises geopolitical risks […]

  • Iran’s waning involvement in the South Caucasus
    by Philip Rohrs-Weist on 2018-07-05 at 15:05With the JCPOA finalized in 2015, Iran seemed to finally build on its potential to become a shaping actor in the South Caucasus. Yet the scrapping of the JCPOA in April 2018 threatens to disillusion those who were optimistic about new trading and investment opportunities. Under growing pressure, […]

  • Post-conflict Colombia looks towards the future
    by Steven Spinello on 2018-07-04 at 14:47The election of Ivan Duque could represent a pivot point in post-Conflict Colombia. How effectively his administration handles the ongoing implementation of the 2016 peace agreement with the FARC may presage the ultimate success or failure of his presidency. The post Post-conflict Colombia looks […]

Claims Journal

  • Lawyer Compares 2014 Arrest at Vegas Hotel to Mass Shooting Case
    by KEN RITTER on 2018-07-10 at 08:41The arrest of a man in 2014 with multiple weapons in an upper-floor room at a Las Vegas Strip resort should have led to tightened hotel security and prevented a shooting last October from the same hotel that killed 58 […]

  • U.S. Postal Service Will Pay $3.5M for Stamp Copyright Infringement Case
    by MICHELLE L. PRICE on 2018-07-10 at 08:00A stamp that mistakenly featured the image of a Statue of Liberty replica in Las Vegas instead of the original New York Statue will cost the U.S. Postal Service $3.5 million in a copyright infringement lawsuit. Las Vegas sculptor Robert […]

  • Top Private Flood Insurers and Market Report
    on 2018-07-10 at 05:00During 2017, the private flood insurance market expanded considerably with 50 new carriers. In total, insurers reported direct private flood insurance premiums written of $630 million, an increase of $217 million over 2016. That’s according to Insurance Journal’s Top Private […]

  • Arkansas Licenses 3 New Property Insurers; That’s 10 for Year
    on 2018-07-10 at 05:00Three new property/casualty insurance companies have been approved to do business in Arkansas, the state insurance department reported. All three are based in Florida. Counting the recently accepted companies, 10 new insurers have been approved to enter the Arkansas insurance […]

  • How Texas Insurance Industry Can Manage Never-Ending Hail Problem
    on 2018-07-10 at 05:00Texas has a hail problem. OK, from an insurance perspective, Texas has a weather problem, period, but that’s another story altogether. Back to hail. On June 6, a hailstorm walloped heavily populated areas of North Texas with baseball sized hail […]

  • Speeding Infractions Costly in Certain States
    by Riley Griffin on 2018-07-09 at 15:22Reckless driving is, well, reckless. But Americans keep speeding, willing to risk the financial consequences, which vary wildly from state to state. So where is it costliest to floor it? Delaware and Colorado are the toughest states on speeding and […]

  • U.S. Drone Regulations Withstand a Hobbyist’s Legal Challenge
    by Alan Levin and Andrew Harris on 2018-07-09 at 13:50The U.S. government’s ability to police hobbyist drone use was upheld by an appellate court Friday in a ruling that helps set the stage for a series of new restrictions and requirements aviation regulators hope to enact soon. The U.S. […]

Insurance Journal

  • Ironshore Forms Onshore Middle Market Energy Equipment Facility
    on 2018-07-10 at 05:05Ironshore Insurance Services LLC has formed an energy equipment facility offering property and inland marine insurance coverage for onshore middle market classes of business in the U.S. Ironshore’s Syndicated Risk Services (SRS) will underwrite the middle market sector risk on […]

  • Florida Wildfire Victims Still Awaiting Housing Aid 2 Weeks Later
    on 2018-07-10 at 04:50More than 100 people have been waiting for temporary housing for almost two weeks since being displaced by a wildfire that burned through their tiny community in the Florida Panhandle. In a Panama City News Herald report , Franklin County […]

  • 120K Gallons of Whiskey Spill After Kentucky Storage Warehouse Completely Collapses
    by Bruce Schreiner on 2018-07-10 at 04:44Whiskey barrels were piled in a mountainous heap last week after the rest of a whiskey storage warehouse collapsed in Kentucky, nearly two weeks after part of the decades-old structure came crashing down. The remainder of the massive structure collapsed […]

  • Everest Insurance Adds Donlan as Distribution Leader in Atlanta
    on 2018-07-10 at 04:00Everest Insurance has appointed Chris Donlan to lead the Everest Insurance marketing & distribution efforts for the Southeast region. He will be based in the company’s Atlanta office. Donlan, who joined Everest from AIG in 2016, had most recently been […]

  • Colorado Campaigns Aim at Curbing Vehicle-Pedestrian Deaths
    by Brandon Johnasson on 2018-07-09 at 16:46Twice in a week this month in unrelated collisions, cars barreled into pedestrians on East Colfax Avenue, in Aurora, Colorado, killing one man and seriously hurting another. And investigators say those two crashes are far from outliers. They’re part of […]

  • Washington’s Skagit County Gets New Tsunami Planning Maps
    on 2018-07-09 at 16:27Skagit County officials in northwestern Washington have a new resource to help plan for potential big waves caused by large earthquakes along the West Coast. Skagit County Department of Emergency Management Director Doug ten Hoopen tells the Skagit Valley Herald […]

  • California Orders Work Comp Insurers to Report Federal Income Tax Savings
    on 2018-07-09 at 16:26California Insurance Commissioner Dave Jones has issued an order directing every insurer licensed to write workers’ compensation insurance in the state must report their federal income tax savings annually through a rate filing in light of the new tax law. […]

Asia Insurance Review

  • India: Regulator directs insurers to abide by Supreme Court order
    on 2018-07-10 at 16:42The IRDAI has issued a directive asking insurance companies not to insure a vehicle unless it has a valid pollution under control (PUC) certificate. The 6 July directive follows an order from the Supreme Court in August 2017 where the issue of making PUC mandatory for insurance was first raised. […]

  • Climate risk insurance: PPP the strategy for the future, says German official
    on 2018-07-10 at 16:42Climate risk insurance plays an important role in protecting populations, and public-private partnership is the way forward in this strategy, said German Federal Ministry for Economic Cooperation and Development state secretary Martin Jaeger, with a focus on the climate risk issue in his special […]

  • IIS announces offices in Singapore and London, appointment of new chairman
    on 2018-07-10 at 16:42IIS president & CEO Mike Morrissey has announced the opening of two regional offices in 4Q2018 – one in Singapore to expand the organisation’s presence in the Asia Pacific region, and the other in London to focus on the EMEA region and support the society’s role as secretariat of the Insurance […]

  • Taiwan: More commitment needed to prevent money laundering
    on 2018-07-10 at 16:42Top executives at life insurers in Taiwan still have shortcomings including a lack of dedication to combating money laundering, according to Cathay Life Insurance chief compliance officer Gong Du-zhi. […]

  • Australia: Premiums vary for similar cover
    on 2018-07-10 at 16:42Depending on the profile of the superannuation fund membership and the deal negotiated by each fund with its insurer, fund members could be paying very different insurance premiums for the same level of cover. […]

Canadian Underwriter

  • Tropical Storm Chris tracks towards Nova Scotia
    by Greg Meckbach on 2018-07-09 at 20:42Storm weather arising from a hurricane could hit Nova Scotia Wednesday night, with a low but not zero probability of hurricane-force winds hitting Canada’s east coast. Tropical Storm Chris is expected to start moving northeast and reach hurricane status Tuesday,… The post Tropical […]

  • These directors resigned from their board but still got sued
    by Greg Meckbach on 2018-07-09 at 19:07A recently-announced agreement to settle a lawsuit valued at $500,000 shows the liability risk faced by directors of Ontario-based companies with overseas operations. Even though four directors and officers had resigned, citing a lack of cooperation with the company’s managers… The […]

  • Beware of this water-related risk excluded by CGL
    by Greg Meckbach on 2018-07-09 at 18:04If water damage is top of mind for property insurers, does this mean mold is covered by a commercial general liability policy? Not necessarily. Commercial brokers should make sure they aware of exclusions in CGL policies that would prevent their… The post Beware of this water-related risk […]

  • Looking to grow your E&O? Consider emerging classes of consultants
    by David Gambrill on 2018-07-09 at 18:00An emerging class of professional consultants is a new area of opportunity for brokers seeking to place errors and omissions (E&O) insurance. “We as a society have changed to become more service-oriented,” says Marilyn vanGansewinkel, vice president of specialty insurance… […]

  • Brokerlink expands Ontario presence with latest acquisition
    by David Gambrill on 2018-07-09 at 17:50Brokerlink, one of Canada’s largest property and casualty insurance brokerages, has expanded its presence in Ontario with the acquisition of three new brokerages. Ontario brokerages Adriatic Insurance Brokers Ltd., Magermans & Raes Insurance Brokers Ltd., and Insurance Protection Group […]

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InsureZero

  • Starting a Warehouse Business – The Logistics Behind It
    by helen537 on 2018-06-20 at 09:49Most entrepreneurs want to go into tech, supplements or some kind of artisanal whatever. This is a shame, since there are many industries and lines of work that have fallen by the wayside, just because people don’t even know that they are a viable (and lucrative) option. One of these, for […]

  • Cost-Effective Rental Renovations for Satisfied Tenants
    by Lillian Connors on 2018-06-18 at 10:57Every renter wants the same thing: minimum down times and maximum revenue. Wasting money on upgrades that do not boost the appeal, value, or functionality of the rental unit is not an option. On the other hand, cutting costs while also aiming at great ROI seems like a daunting proposition. Well, […]

  • How to Protect Your Most Precious Items When Moving
    by Lillian Connors on 2018-06-14 at 11:28Moving to a new location is an exciting prospect. The mere idea of it brims with potential, but considering how complicated the move tends to be, some matters can truly deflate one’s spirit. This is especially the case when, after the move, you discover that a particular item of great value […]

  • A Balanced Life: How Boomers Can Have Fun While Living Frugally
    by jmckinley on 2018-05-29 at 19:56It’s interesting that many Baby Boomers have adopted a frugal lifestyle given that they grew up in an era of prosperity and affluence. It’s always wise to maintain an element of frugality, but it’s also important to find ways to enjoy your life, especially if you have the […]

  • SIMPLE 5 Types of Insurance You Should Think about as a Business Owner
    by NinaSMedia on 2018-05-25 at 07:11Every ambitious person enters the business world with high hopes of everything turning all right, however, putting your livelihood on the line because of your optimism is a poor business practice. Of course, you can significantly cut costs on your business by not getting an insurance, yet, this […]


Insurance Roundup, July 9, 2018

General Insurance

Global Risk Insights

  • Iran’s waning involvement in the South Caucasus
    by Philip Rohrs-Weist on 2018-07-05 at 15:05With the JCPOA finalized in 2015, Iran seemed to finally build on its potential to become a shaping actor in the South Caucasus. Yet the scrapping of the JCPOA in April 2018 threatens to disillusion those who were optimistic about new trading and investment opportunities. Under growing pressure, […]

  • Post-conflict Colombia looks towards the future
    by Steven Spinello on 2018-07-04 at 14:47The election of Ivan Duque could represent a pivot point in post-Conflict Colombia. How effectively his administration handles the ongoing implementation of the 2016 peace agreement with the FARC may presage the ultimate success or failure of his presidency. The post Post-conflict Colombia looks […]

  • Cyberattacks – a neglected consequence of withdrawing from the Iran nuclear deal
    by Adriana Mara on 2018-07-04 at 09:08Following the U.S.’ decision to withdraw from the Iran Nuclear Deal, it is expected that Iranians will retaliate in the form of cyberattacks with potentially devastating results. The post Cyberattacks – a neglected consequence of withdrawing from the Iran nuclear deal appeared first on […]

  • The Houthis: Sunni-Shiite conflict as a self-fulfilling prophecy
    by Global Risk Insights on 2018-07-04 at 08:59After failing to confront Iran’s growing power in Iraq and the Levant, Saudi Arabia and the UAE’s attempt to prevent Iranian meddling seems to have reinforced the sectarian split in Yemen – handing Iran the chance to integrate the Houthi movement into its network of proxies. The post The […]

  • Mexico’s new president and the risks to democratic institutions
    by Tyler Mattiace on 2018-07-03 at 16:30While his detractors claim his economic policies will turn Mexico into “the next Venezuela”, the real risk of his presidency may be his lack of regard for Mexico’s fragile democratic institutions, fewer than 20 years after the end of de facto one-party rule. The post […]

Claims Journal

Insurance Journal

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Canadian Underwriter

  • Insurers jumping out of the trampoline business
    by Jason Contant on 2018-07-08 at 23:31Canadian insurers are jumping out of the trampoline business. Gina Bennett, vice president of Markel Canada’s western region, told Canadian Underwriter Thursday that there are few markets to approach for trampoline risks, as most sports insurance carriers have exited writing… The post […]

  • Why this city is billed as “progressive” in reducing flood risk
    by Greg Meckbach on 2018-07-08 at 23:24Toronto is one of the most progressive cities in taking steps to reduce basement flood risk, Institute for Catastrophic Loss Reduction (ICLR)  director of research Dan Sandink said Thursday in an interview. And a ban on below-grade garages is Exhibit A… The post Why this city is […]

  • Clear policy exclusion wins the day in class action against credit union
    by Greg Meckbach on 2018-07-08 at 23:18A clear exclusion pertaining to fees and commissions in a credit union’s professional liability policy means Liberty International Underwriters will not have to defend a British Columbia credit union against a class-action lawsuit related to machine charges outside of Canada. […]

  • Why fully automated cars are a lot further away than you think
    by Jason Contant on 2018-07-08 at 23:13Don’t hold your breath waiting for the first fully autonomous car to hit the streets anytime soon. Car manufacturers have projected for years that we might have fully automated cars on the roads by 2018. But for all the hype that… The post Why fully automated cars are a lot […]

  • Truck driver criminally charged in Humboldt Broncos bus crash
    by Jason Contant on 2018-07-07 at 14:04The driver of a transport truck faces 29 criminal charges in a fatal collision that killed 16 people, including 10 players, with the Humboldt Broncos junior hockey team. Thirteen other players were injured. RCMP say Jaskirat Singh Sidhu, 29, is… The post Truck driver criminally charged in […]

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Insurance Roundup, July 6, 2018

General Insurance

Global Risk Insights

  • Caucasus – Iran’s involvment after US withdrawal from the JCPOA
    by Philip Rohrs-Weist on 2018-07-05 at 15:05With the JCPOA finalized in 2015, Iran seemed to finally build on its potential to become a shaping actor in the South Caucasus. Yet the scrapping of the JCPOA in April 2018 threatens to disillusion those who were optimistic about new trading and investment opportunities. Under growing pressure, […]

  • Post-conflict Colombia looks towards the future
    by Steven Spinello on 2018-07-04 at 14:47The election of Ivan Duque could represent a pivot point in post-Conflict Colombia. How effectively his administration handles the ongoing implementation of the 2016 peace agreement with the FARC may presage the ultimate success or failure of his presidency. The post Post-conflict Colombia looks […]

  • Cyberattacks – a neglected consequence of withdrawing from the Iran nuclear deal
    by Adriana Mara on 2018-07-04 at 09:08Following the U.S.’ decision to withdraw from the Iran Nuclear Deal, it is expected that Iranians will retaliate in the form of cyberattacks with potentially devastating results. The post Cyberattacks – a neglected consequence of withdrawing from the Iran nuclear deal appeared first on […]

  • The Houthis: Sunni-Shiite conflict as a self-fulfilling prophecy
    by Global Risk Insights on 2018-07-04 at 08:59After failing to confront Iran’s growing power in Iraq and the Levant, Saudi Arabia and the UAE’s attempt to prevent Iranian meddling seems to have reinforced the sectarian split in Yemen – handing Iran the chance to integrate the Houthi movement into its network of proxies. The post The […]

  • Mexico’s new president and the risks to democratic institutions
    by Tyler Mattiace on 2018-07-03 at 16:30While his detractors claim his economic policies will turn Mexico into “the next Venezuela”, the real risk of his presidency may be his lack of regard for Mexico’s fragile democratic institutions, fewer than 20 years after the end of de facto one-party rule. The post […]

Claims Journal

Insurance Journal

  • California Legislative Special Committee to Consider Wildfire Liability
    by Stephanie K. Jones on 2018-07-06 at 06:36California lawmakers may change the standard for determining whether utilities are liable for wildfire damage following the worst wildfire season in state history. Gov. Jerry Brown and legislative leaders said on July 2 that they are forming a special committee […]

  • 7 Dump Trucks Worth $1M Destroyed in Indianapolis Fire
    on 2018-07-06 at 06:22Fire has destroyed seven 20-ton dump trucks in Indianapolis valued at more than $1 million. The Indianapolis Star reports that Indianapolis Fire Department crews were dispatched about 7:30 a.m. Wednesday to an east-side trucking business. Battalion Chief Rita Reith reported […]

  • Washington Dockworker’s Widow Files Wrongful Death Lawsuit
    on 2018-07-06 at 06:16The widow of a Washington state dockworker killed when a mooring line snapped on a cargo ship has filed a $15 million wrongful death lawsuit against the ship’s owner and operators. Byron Jacobs, of Longview, was killed June 28 while […]

  • Michigan Appeals Court Rules for Driver in Car Wash Fall
    on 2018-07-06 at 05:50The Michigan appeals court is breaking new legal ground – at a self-serve car wash. In a 2-1 decision, the court ruled that a woman who fell while washing her car can seek payment for her injuries from her car […]

  • Marsh & McLennan Agency Acquires Minnesota’s Klein Agency
    on 2018-07-06 at 05:47Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Klein Agency Inc., a St. Paul, Minnesota-based surety and property/casualty agency specializing in the construction industry. Klein Agency is a third-generation family run agency. It […]

  • Credit Ratings Assigned to Texas’ Service American Indemnity Co.
    on 2018-07-06 at 05:32A.M. Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” to Service American Indemnity Co., headquartered in Austin, Texas. The outlook assigned to the ratings is stable. Concurrently, […]

  • Dealing with It: Texas’ Never Ending Hail Problem
    by Stephanie K. Jones on 2018-07-06 at 05:04Texas has a hail problem. OK, from an insurance perspective, Texas has a weather problem, period, but that’s another story altogether. Back to hail. On June 6, a hailstorm walloped heavily populated areas of North Texas with baseball sized hail […]

Asia Insurance Review

  • India: IDBI Federal Life sale may be scrapped with LIC involvement
    on 2018-07-06 at 16:12The sale of IDBI Bank’s stake in IDBI Federal Life Insurance could be scrapped following LIC’s involvement with the bank as a major financial investor. […]

  • Emerging Asia: Strong growth in life; non-life slows
    on 2018-07-06 at 16:12Strong growth in emerging Asia’s life insurance sector continued, with premiums rising 18% in 2017 (2016: 23%), supported by broad-based gains in most markets, says the latest Swiss Re Institute sigma study released yesterday and titled “World Insurance in 2017”. […]

  • Global: Emerging markets continue to drive world insurance growth
    on 2018-07-06 at 16:12Global insurance premiums increased by 1.5% in real terms to nearly $5 trillion in 2017, after rising 2.2% in 2016, with emerging markets continuing to be a key driver. […]

  • Oceania: Life and non-life business expected to improve
    on 2018-07-06 at 16:12Life premiums in Oceania are estimated to have fallen 18% in 2017, making it the third year in a row that premiums have decreased, according to Swiss Re Institute’s sigma report titled “World Insurance in 2017” that was released yesterday. […]

  • Taiwan: Insurers play key role in offshore wind energy projects
    on 2018-07-06 at 16:12Mr Cheng-Mount Cheng, vice chairman of the Financial Supervisory Commission (FSC), has said that the insurance sector will design insurance products that will help the banking industry to finance offshore wind power projects. […]

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Insurance Roundup, July 5, 2018

General Insurance

Global Risk Insights

  • Post-conflict Colombia looks towards the future
    by Steven Spinello on 2018-07-04 at 14:47The election of Ivan Duque could represent a pivot point in post-Conflict Colombia. How effectively his administration handles the ongoing implementation of the 2016 peace agreement with the FARC may presage the ultimate success or failure of his presidency. The post Post-conflict Colombia looks […]

  • Cyberattacks – a neglected consequence of withdrawing from the Iran nuclear deal
    by Adriana Mara on 2018-07-04 at 09:08Following the U.S.’ decision to withdraw from the Iran Nuclear Deal, it is expected that Iranians will retaliate in the form of cyberattacks with potentially devastating results. The post Cyberattacks – a neglected consequence of withdrawing from the Iran nuclear deal appeared first on […]

  • The Houthis: Sunni-Shiite conflict as a self-fulfilling prophecy
    by Global Risk Insights on 2018-07-04 at 08:59After failing to confront Iran’s growing power in Iraq and the Levant, Saudi Arabia and the UAE’s attempt to prevent Iranian meddling seems to have reinforced the sectarian split in Yemen – handing Iran the chance to integrate the Houthi movement into its network of proxies. The post The […]

  • Mexico’s new president and the risks to democratic institutions
    by Tyler Mattiace on 2018-07-03 at 16:30While his detractors claim his economic policies will turn Mexico into “the next Venezuela”, the real risk of his presidency may be his lack of regard for Mexico’s fragile democratic institutions, fewer than 20 years after the end of de facto one-party rule. The post […]

  • Ethiopia between risk and reform
    by Bashir Ali on 2018-07-03 at 14:50Ethiopia is undergoing its most significant changes since the 1991 birth of the EPRDF ruling coalition under its controversial leader, Meles Zenawi. The last two months have witnessed the realigning of Ethiopia’s economy and bilateral relations with previous foes such as Eritrea and Egypt. […]

Claims Journal

Insurance Journal

Asia Insurance Review

Canadian Underwriter

  • Novel concept of ‘impaired by distraction’ quashed by Supreme Court of Canada
    by Greg Meckbach on 2018-07-04 at 20:39Driving while engrossed in a heated conversation may be a form of distraction, but is not a form of impairment, the Supreme Court of Canada suggested in a divided ruling released Friday. In May 2013, a toddler died after an… The post Novel concept of ‘impaired by distraction’ […]

  • Shop Canadian when selling marine, brokers advised
    by Jason Contant on 2018-07-04 at 20:22Brokers interested in selling marine insurance should target coverholders and managing general agents (MGAs) in Canada rather than going straight to the London market, a senior marine surveyor told Canadian Underwriter recently. “There are a lot of MGAs and coverholders… The post Shop […]

  • M&A-lite: a new way to transform the business
    by Greg Meckbach on 2018-07-04 at 20:16Improving distribution and exploring sophisticated technologies such as artificial intelligence are among the major reasons why insurance CEOs are looking to make deals such as mergers and acquisitions these days. But some of these objectives can be accomplished through other,… The post […]

  • Beazley Canada appoints territory manager for eastern Canada
    by Jason Contant on 2018-07-04 at 20:09Specialist Lloyd’s insurer Beazley has appointed Jo-Anne Hawthorne as territory manager for eastern Canada. Reporting to Cheryl Hobbs, Hawthorne will be responsible for developing closer relations with brokers in Ontario, Atlantic Canada, Ottawa and Quebec, with a view to building… The […]

  • What happened to the broker caught cheating on her CAIB 3 exam
    by David Gambrill on 2018-07-04 at 19:47A B.C. broker caught cheating on her CAIB 3 broker licensing exam has had her general and life insurance licenses suspended for a year. The Insurance Council of B.C. noted the broker, Mahnoosh Ebtia, was not deceptive when confronted about… The post What happened to the broker caught […]

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Insurance Roundup, July 4, 2018

General Insurance

Global Risk Insights

  • Mexico’s new president and the risks to democratic institutions
    by Tyler Mattiace on 2018-07-03 at 16:30While his detractors claim his economic policies will turn Mexico into “the next Venezuela”, the real risk of his presidency may be his lack of regard for Mexico’s fragile democratic institutions, fewer than 20 years after the end of de facto one-party rule. The post […]

  • Ethiopia between risk and reform
    by Bashir Ali on 2018-07-03 at 14:50Ethiopia is undergoing its most significant changes since the 1991 birth of the EPRDF ruling coalition under its controversial leader, Meles Zenawi. The last two months have witnessed the realigning of Ethiopia’s economy and bilateral relations with previous foes such as Eritrea and Egypt. […]

  • Fate of migrant ship Aquarius exacerbates divisions within EU
    by Aman Navani on 2018-07-01 at 22:22Italy’s decision to turn away the migrant ship, Aquarius, reinforced the deep schism within the EU on how to manage the migration crisis. With a pan-European solution looking increasingly unlikely, the crisis is only going to continue, increasing political and economic risk in the region by […]

  • Pushback against BRI in Southeast Asia
    by Brijesh Khemlani on 2018-06-30 at 14:56Southeast Asian nations are pushing back against China’s Belt and Road Initiative (BRI), wary of Beijing’s creeping influence and unmanageable debts. Japan and India are seeking to capitalize on this setback and bolster their presence in the region, but standing up to Beijing could carry […]

  • What role does North Korea play in Chinese strategy?
    by Ewen Levick on 2018-06-29 at 00:18A week after the summit between Trump and North Korea’s Kim Jong Un ended, the steady drumbeat of analysis goes on. Much of the discussion has focused on what North Korea gained from the meeting. The post What role does North Korea play in Chinese strategy? appeared first on Global Risk […]

Claims Journal

Insurance Journal

Asia Insurance Review

  • China: Several reinsurers plan to establish reinsurance blockchain platform
    on 2018-07-04 at 16:25China Re, Hannover Re, General Reinsurance Corporation and Zhong An have announced plans to create a joint reinsurance blockchain platform. […]

  • Sri Lanka: Life insurance profits jump in 2017
    on 2018-07-04 at 16:25The profits of long term insurance business in Sri Lanka last year amounted to LKR39,268 million (2016: LKR13,616 million) while those of general insurance business reached LKR8,543 million (2016: LKR13,236 million), according to the Insurance Regulatory Commission of Sri Lanka. […]

  • Asia: Rising healthcare costs due to ‘tsunami of chronic disease’
    on 2018-07-04 at 16:25Non-communicable diseases (NCD) account for 80% of the disease burden in Singapore in 2016, said Health Promotion Board’s Director of Workplace Health and Outreach, Sim Beng Khoon. “However, a third of that can be prevented,” he said. […]

  • Australia: Insurance laws running behind autonomous cars
    on 2018-07-04 at 16:25With 5G wireless networks poised to go live around the world next year, Australian law is seriously lagging behind the rapid pace of technological change, warns insurance and health law firm, Barry.Nilsson. […]

  • India: LIC employees protest insurer’s stake increase in ailing bank
    on 2018-07-04 at 16:25Employee unions in the insurance and banking sectors have written to the Finance Ministry protesting LIC’s investment in IDBI Bank, arguing that a stake increase will not give any returns to the insurance company because of the high proportion of bad loans in the lender’s portfolio. […]

Canadian Underwriter

  • Steering the Course: Course of Construction (COC) Insurance Options
    by Baxter Hall on 2018-07-04 at 01:31All it takes is a spark.  From a sander. Or errant cigarette.  And POW!  Igniting common, flammable construction materials like wood, solvents, packaging, and gasoline and turning a work in progress to a pile of ash.  It’s a powerful blow… The post <span […]

  • What have we learned from Lac-Megantic train derailment?
    by Greg Meckbach on 2018-07-04 at 01:30Nearly five years after a fatal accident in which a runaway freight train caught fire in Lac-Mégantic Quebec, the frequency of uncontrolled train movements is on the rise, the Transportation Safety Board of Canada warned Wednesday. “In 2017, there were… The post What have we […]

  • Local M&A activity heats up in the claims industry
    by Jason Contant on 2018-07-03 at 23:50Independent adjusting firm Crawford & Company (Canada), Inc.  has acquired Cherrie Griffith Ltd., a provider of risk and claims services in the Ottawa region for more than 10 years. The acquisition was the second in two months within the claims… The post Local M&A activity heats […]

  • Leading Canadian insurers ‘looking at M&A intensely’
    by Greg Meckbach on 2018-07-03 at 23:46Brokers can expect to see a major carrier consolidation deal this year, assuming the prediction of a major mergers and acquisitions (M&A) advisory firm holds true. Of the top 10 Canadian P&C insurers, “it could be expected that a few… The post Leading Canadian insurers […]

  • Quebec insurance IT provider V-NEO acquired by German-based tech company
    by David Gambrill on 2018-07-03 at 23:22German-based tech provider GFT Technologies SE (GFT) has acquired V-NEO Inc. (V-NEO), a Quebec-based IT provider to the Canadian property and casualty insurance industry. Founded in 2011, V-NEO has acted as a service partner for the P&C insurance Guidewire platform.… The post Quebec […]

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Insurance Roundup, July 3, 2018

General Insurance

Global Risk Insights

  • Fate of migrant ship Aquarius exacerbates divisions within EU
    by Aman Navani on 2018-07-01 at 22:22Italy’s decision to turn away the migrant ship, Aquarius, reinforced the deep schism within the EU on how to manage the migration crisis. With a pan-European solution looking increasingly unlikely, the crisis is only going to continue, increasing political and economic risk in the region by […]

  • Colombia’s president-elect inherits a polarized country
    by Arthur Williams on 2018-06-28 at 15:24As the youngest president in Colombia’s history, Iván Duque’s fresh-faced and scandal-free image may prove useful in uniting Colombia in support of his administration. However, several formidable challenges have the potential to derail his administration. The post […]

Claims Journal

  • Report Highlights Pot Use in Massachusetts
    on 2018-07-02 at 14:10A statewide study of marijuana use among Massachusetts residents released last week found that about 21 percent of adults had used marijuana in the past 30 days and that the proportion of marijuana use was highest among 18-to-25 year-olds. The […]

  • Michigan Appeals Court Rules for Driver in Car Wash Fall
    on 2018-07-02 at 13:33The Michigan appeals court is breaking new legal ground – at a self-serve car wash. In a 2-1 decision, the court ruled that a woman who fell while washing her car can seek payment for her injuries from her car […]

  • Study Reviews Ways to Control Dust Coal Miners Breathe
    by DYLAN LOVAN on 2018-07-02 at 12:52A new report examines the way coal dust inhaled by miners is regulated as health and safety officials grapple with an increase in cases of severe black lung disease in Appalachia. The National Academy of Sciences report released Thursday explores […]

  • Business News: AF Group, Verisk, Understory
    on 2018-07-02 at 09:51AF Group Expands Into Commercial Auto AF Group announced its expansion into commercial auto insurance with the launch of Fundamental Underwriters, a new product aimed at providing superior insurance coverage for accounts with specialty risks. Fundamental Underwriters is a managing […]

  • Drivers Ignoring Rules Along Michigan Overpass
    on 2018-07-02 at 09:25Police crash reports show truck drivers often ignore safety regulations along a western Michigan overpass that state officials said has been struck up to 11 times this year. William Massey is a safety specialist with the Michigan Center for Truck […]

  • California Fatal Warehouse Fire Plea Deal Reached
    by PAUL ELIAS on 2018-07-02 at 08:51Lawyers said Friday that a tentative plea deal has been reached for two defendants in connection with a Northern California warehouse fire that killed three dozen partygoers at an unlicensed concert in 2016. Attorneys for Derick Almena and Max Harris […]

  • Georgia Bans Hand-Held Cell Phone Use
    by BRINLEY HINEMAN on 2018-07-02 at 08:15Don’t touch that screen! Starting July 1, Georgia is joining more than a dozen other states in banning hands-on cellphone use while driving. Under the “Hands-Free Georgia Act,” drivers may not hold a phone with their hands or use any […]

Insurance Journal

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Canadian Underwriter

  • What Canadians think of their travel medical insurance
    by Jason Contant on 2018-06-29 at 17:48More than eight in 10 polled Canadians who have purchased travel medical insurance are “satisfied with the product and the value it provides” and 98% of those who made claims in the past year were fully or partially paid, a… The post What Canadians think of their travel medical […]

  • Why homeowners are happy with their insurers despite rate increases
    by Jason Contant on 2018-06-29 at 17:45Despite rising premiums, homeowners’ satisfaction with their insurance providers has increased for the third consecutive year, according to the J.D. Power 2018 Canada Home Insurance Study. The survey, released on Thursday, rated overall satisfaction at 786 on 1,000-point scale. […]

  • Building an innovative culture? Here are two pitfalls to avoid…
    by David Gambrill on 2018-06-29 at 17:05Companies often make two common blunders when they seek to disrupt themselves. First, some talk about hiring a bunch of “intrapreneurs” – creative geniuses who break all the rules and swim against the corporate tide – and then silo them… The post Building an […]

  • What happens when your mechanic gives you insurance advice
    by David Gambrill on 2018-06-29 at 15:44After following up on their mechanic’s suggestion to file a retroactive insurance claim, a B.C. couple is now on the hook for an $800.75 repair job to their 2010 Toyota Prius. Blenda and Raymond Pilon made an auto insurance claim… The post What happens when your mechanic gives you […]

  • New Brunswick says delay of legal cannabis sales costly for province
    by Jason Contant on 2018-06-29 at 15:00FREDERICTON – New Brunswick says it will be ready for cannabis sales when they become legal in October – but the delay from the original July startup will cost the province millions of dollars in revenue. Finance Minister Cathy Rogers… The post New Brunswick says delay of legal […]

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