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The challenge with insuring autonomous ships

The large body of regulations known as maritime law should be addressed before or in concert with insurance considerations when it comes to autonomous vessels, British Columbia-based author Blake Desaulniers told Canadian Underwriter last week. “That large body of regulations

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One way IFRS 17 might actually offer “business value”

While many in the P&C industry view IFRS 17 as an expensive time-suck that offers “no business value,” others believe the new financial standard could be a boon for product pricing. “One thing I’m really hoping that IFRS 17 [can

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What Fairfax’s CEO is saying about interest rates

As Canadian insurers struggle with auto claims and weather-related losses, relief may be in sight in the form of interest rate increases. “We think interest rates will go up over time because the economy of the U.S. is doing very

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Feds heed industry’s call for investment in disaster mitigation

The federal government will invest $2 billion over 10 years in projects to help communities better withstand natural hazards such as floods, wildfires, seismic events and droughts. The Disaster Mitigation and Adaptation Fund (DMAF) will support large-scale infrastructure projects with

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The latest home insurance product for brokers to figure out

With equipment breakdown and other new coverages available from homeowners’ insurance carriers, brokers need to make sure their clients or prospective clients are aware of their options, a Regina-based broker warns. “There are so many new products” available in homeowner

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About 10,000 homes were in N.B. flood areas, but damage still unclear

FREDERICTON – New Brunswick’s environment minister has given a new sense of scale to the province’s record-setting floods, saying as many as 10,000 homes and businesses were within flood zones. Andrew Harvey said Thursday that precise figures have yet to

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AssessMed is Pleased to Announce Christopher Coe’s Promotion to Senior Director, British Columbia Business

MISSISSAUGA, ON, May 18, 2018 /insPRESS/ – It is with great pleasure that the ownership and senior management staff of AssessMed announce the promotion of Christopher Coe from Director of Business Development to his new title of Senior Director, British

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Auto fraud: a cost of doing business?

Canada’s property and casualty insurance industry should do much more to fight auto insurance fraud, a senior claims representative of Canada’s second largest insurer says. “It’s easy to come down on every little auto repair facility, or some of these

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No hard market despite 2017 hurricane losses: Fairfax

Despite nearly US$100 billion in hurricane losses in 2017, insurance buyers are not experiencing a hard market like they did after the 2001 terror attacks that brought the World Trade Centre down, the head of Fairfax Financial Holdings Ltd. suggests.

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How Saskatchewan brokers are handling the French fries challenge

Roughly half the motorists in Saskatchewan lack adequate auto insurance because they are only buying the mandatory minimum required by law from the province’s government-run auto insurer, a broker warns. Saskatchewan’s 70-year-old-plus Auto Fund writes basic minimum liability, damage to

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