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Railroad firms, workers charged in Lac-Mégantic oil train disaster

Published June 22, 2015 - 5:01pm CST

The Canadian government on Monday charged two railroad companies and six people in the July 2013 Lac-Mégantic, Quebec, train derailment.

Court delays ruling on 2013 Quebec oil train crash settlement

Published June 18, 2015 - 9:19am CST

(Reuters) — A Quebec judge reserved his decision on whether to grant a motion that would clear the way for a settlement between victims of the 2013 Lac-Megantic oil train disaster and companies and individuals linked to the crash.

Insurer publishes free index of world’s building codes

By: Donna Mahoney

Published June 10, 2015 - 3:28pm CST

Commercial and industrial insurer FM Global has released an all-inclusive list of countries’ building codes that can be used worldwide when building or developing facilities.

World Fuel Services to pay $110 million in Lac-Mégantic settlement

Published June 08, 2015 - 4:30pm CST

(Reuters) — World Fuel Services Corp. has agreed to contribute $110 million to a compensation fund for victims of the Lac-Mégantic, Quebec, rail disaster as part of a settlement with the Montreal, Maine & Atlantic Railway and its bankruptcy trustees.

Berkshire offers executive liability cover for Canadian pension sponsors

By: Joyce Famakinwa

Published June 08, 2015 - 3:02pm CST

Berkshire Hathaway Specialty Insurance on Monday said it has launched a policy to provide coverage for Canadian sponsors of large pension and benefit plans.

Directors and officers forced to pay $3.81 million to cover pollution cleanup

By: Judy Greenwald

Published June 07, 2015 - 6:00am CST

An Ontario, Canada, case in which directors and officers of a now-bank-rupt aerospace company agreed to help pay environmental remediation costs remains applicable only to Canada, but experts say the deal is disturbing.

Tobacco firms to appeal $12 billion award to Canadian smokers

Published June 02, 2015 - 10:44am CST

(Reuters) — Three tobacco companies said on Monday they would appeal a Canadian court ruling that awarded more than CA$15 billion ($12.05 billion) in damages to Quebec smokers in two related class action cases.

Guy Carpenter U.S. chief exits

By: Matthew Lerner

Published May 27, 2015 - 11:12am CST

Andrew Marcell has left Guy Carpenter & Co. L.L.C. and has been replaced as CEO of U.S. operations on an interim basis by Britt Newhouse, the reinsurance brokerage’s chairman.

Air Canada to redeploy capital as pension funding gap evaporates

Published May 27, 2015 - 9:20am CST

(Reuters) — Air Canada on Tuesday said it plans to redeploy capital toward share buybacks, debt repayment and increased investment in new aircraft, as its once-huge pension fund deficit has now been wiped out much earlier than expected.

Aon Benfield tool models Canadian flooding risks

By: Shelby Livingston

Published May 18, 2015 - 11:40am CST

Aon Benfield Group Ltd. on Monday launched a probabilistic flood model for Canada.

North American rail industry angered by new brake rule

Published May 04, 2015 - 11:17am CST

(Reuters) — U.S. regulators took on the powerful rail industry on Friday, announcing plans to require expensive, high-tech braking technology the railways insist is unproven and unreliable.

Canada toughens oil train safety standards

Published May 01, 2015 - 2:44pm CST

(Reuters) — The United States and Canada on Friday announced long-awaited safety rules for trains carrying oil, as regulators seek to reduce risks after a series of explosive accidents that accompanied a surge in crude-by-rail shipments.

U.S. calls for more oil train inspections, other safety measures

Published April 17, 2015 - 2:23pm CST

(Reuters) — Oil train operators must have detailed information on hand about the possible risks of their cargo in case of an accident and perform more thorough checks before moving on the tracks, U.S. transportation officials said on Friday.

XL offers environmental excess policy for U.S., Canada

By: Shelby Livingston

Published April 16, 2015 - 1:50pm CST

XL Group P.L.C. has launched an environmental excess insurance policy for customers in the United States and Canada, the insurer said Thursday.

Catastrophe model covers Canadian floods

By: Mark A. Hofmann

Published April 16, 2015 - 9:53am CST

Guy Carpenter & Co., L.L.C. has launched a probabilistic Canadian flood model, the New York-based unit of Marsh & McLennan Cos. Inc. announced Thursday.

Lead insurer for Air Canada crash identified

By: Judy Greenwald

Published March 31, 2015 - 2:58pm CST

Global Aerospace Underwriting Managers Ltd. is the lead insurer for Air Canada, whose plane was severely damaged early Sunday when it landed in bad weather short of the runway at Halifax Stanfield International Airport, the underwriter confirmed Tuesday.

Willis Re flood modeling tool targets Canadian risks

By: Shelby Livingston

Published March 19, 2015 - 11:58am CST

Willis Re, the reinsurance arm of Willis Group Holdings P.L.C., on Thursday launched a suite of tools that allows insurers in Canada to identify potential flood exposures.

Fast-changing security threats overwhelming IT managers

Published March 11, 2015 - 2:08pm CST

(Reuters) — Security professionals are unable to keep pace with cyber security threats against companies as external and internal threats mushroom from both known and emerging technologies, a survey published on Wednesday showed.

White House mulled, then balked at curbing explosive gas on oil trains

Published March 05, 2015 - 1:01pm CST

(Reuters) — The Obama administration weighed national standards to control explosive gas in oil trains last year but rejected the move, deciding instead to leave new rules to North Dakota alone.

Canada to require more oil/rail insurance, special fund

Published February 20, 2015 - 11:22am CST

(Reuters) — Canada will boost the minimum insurance railways will have to carry when they haul crude oil, and an additional fund will be set up with levies on oil shipments to cover major disasters, under legislation to be introduced on Friday, two sources familiar with the bill said.

Lloyd's insurer Brit snapped up for $1.88 billion

Published February 17, 2015 - 9:02am CST

(Reuters) — Fairfax Financial Holdings Ltd., the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit P.L.C. for about $1.88 billion to become one of the top five underwriters on the Lloyd's of London market.

Swiss Re names president and CEO for Canada

By: Shelby Livingston

Published February 09, 2015 - 3:18pm CST

Swiss Re Ltd. has named Veronica Scotti as president and CEO of Swiss Re Canada, effective April 1, the firm said Monday in a statement.

XL offers excess professional liability follow-form policy in U.S., Canada

By: Shelby Livingston

Published January 21, 2015 - 3:39pm CST

XL Group P.L.C. has launched an excess professional liability follow-form policy in the United States and Canada.

Burns & Wilcox Canada acquires Avec Insurance Managers

By: Shelby Livingston

Published January 15, 2015 - 10:07am CST

Managing general agent Burns & Wilcox Canada Inc., a unit of Kaufman Financial Group, has acquired Toronto-based MGA Avec Insurance Managers Inc.

Proposed settlement of $200 million reached in Quebec rail explosion

By: Judy Greenwald

Published January 12, 2015 - 3:33pm CST

A proposed partial settlement of nearly $200 million has been reached in the 2013 Lac-Mégantic, Quebec, train derailment and explosion disaster, attorneys said.

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