Breaking Insurance Industry News

Residents in southeastern B.C. to return home as wildfire conditions ease

Aug. 22, 2017 - Conditions have eased around a wildfire sparked nearly two weeks ago in southeastern British Columbia, prompting the Regional District of Central Kootenay to rescind evacuation orders and alerts. Officials say residents would be allowed to return ear ...
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AGCS names new E&O head

Aug. 22, 2017 - Allianz Global Corporate & Specialty (AGCS) announced that Gary Mann is the new head of its errors and omissions (E&O) arm. Mann reports to Paul Schiavone, regional head of financial lines for North America, in the new role, which is in eff ...
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B.C. Green party exerts pressure on riding sharing, promises legislation

Aug. 22, 2017 - The Green party in British Columbia is planning to keep up the pressure to bring ride-sharing to the province by reintroducing legislation to enable the services. The former Liberal government had backed ride-hailing services such as Uber to operate ...
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Most U.S. homeowners not shutting off water main before travelling: Chubb

Aug. 21, 2017 -  Water damage is more likely to cause property damage than fire or theft yet close to 80% of homeowners in the U.S. don’t prepare for potential water damage before leaving their home for vacation. Chubb’s Homeowners’ ...
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Insurance Council of B.C. considering higher fees

Aug. 21, 2017 - The Insurance Council of British Columbia is requesting comments on its proposal to increase fees paid by brokers in the granting and maintenance of their licenses. With fee rates set at their current levels, “Council is concerned it will be un ...
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Hellman & Friedman may sell stake in HUB International: report

Aug. 21, 2017 - Hellman & Friedman LLC is considering selling a stake in HUB International Ltd., according to anonymous sources that spoke to Reuters. The deal could see the value of HUB declared as between US$6 billion and US$7 billion, including debt. The siz ...
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Many Canadians don’t research car insurance options: survey

Aug. 18, 2017 -  Only 47% of Canadians say they research car insurance options before purchasing. A survey from Ipsos, commissioned by LowestRates.ca, finds that consumers are more likely to conduct online research regarding travel products than  fina ...
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HDI adds E&S subsidiary to family of companies

Aug. 18, 2017 - HDI Global Insurance Company has formed a subsidiary dedicated to excess and surplus lines (E&S). The subsidiary, HDI Specialty, will allow the industrial lines insurer to develop tailored products for customers with unique risk profiles, accord ...
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Gusty winds threaten largest wildfires in B.C. as crews work to prevent spread

Aug. 18, 2017 - The weather forecast calls for a cold front, bringing gusty winds to British Columbia that could inflame wildfires that had been stabilized this week. Kevin Skrepnek with the BC Wildfire Service says two of the largest fires in the Thompson Nicola an ...
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UPDATED: BC wildfires – What brokers need to know

Aug. 18, 2017 - Parts of B.C. are still experiencing intense blazes though some residents have been allowed back into their communities. Brokers and insurers can likely expect fire claims in the region to begin increasing in the coming days. As the conduit of news a ...
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