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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.

CNA expands specialty insurance business into Canada

By: Shelby Livingston

Published January 05, 2015 - 2:35pm CST

CNA Financial Corp. on Monday said it has extended its management liability and professional liability coverage forms to Canada.

GM's recall of midsize pickup trucks affects 2,432 vehicles in U.S., Canada

Published December 05, 2014 - 1:29pm CST

(Reuters) — General Motors Co. on Friday disclosed that it recalled more than 2,400 of its new midsize pickup trucks in the United States and Canada to fix a previously announced air bag issue.

McDonald's recalls lollipop whistles over choking concerns

Published November 11, 2014 - 9:25am CST

(Reuters) — Fast food chain McDonald's Corp. is recalling about 2.5 million lollipop whistles because young children can choke on the parts, the Consumer Product Safety Commission said on Monday.

Canada tightens train handbrake rules, will impose 'audit blitz'

Published October 29, 2014 - 11:10am CST

(Reuters) — Canada will require railways to secure unattended trains with a minimum number of handbrakes and other physical defenses to prevent runaways, Canada’s transport ministry said on Wednesday in its latest response to last year’s deadly crash in Quebec.

Ford recalls 204,448 Ford and Lincoln crossovers for fire hazard

Published October 29, 2014 - 11:00am CST

(Reuters) — Ford Motor Co. said it will conduct a regional recall of 204,448 Ford Edge and Lincoln MKX crossover vehicles to correct an issue that could cause a fire.

Allied World profit drops; business segments to be reorganized

By: Mark A. Hofmann

Published October 23, 2014 - 11:49am CST

Third-quarter net income at Allied World Assurance Co. Holdings A.G. fell 74.8% from the prior-year period to $30.9 million as the Zug, Switzerland-based underwriter contended with increased catastrophe losses.

Chrysler recalls more than 900,000 vehicles globally in two actions

Published October 16, 2014 - 9:04am CST

(Reuters) — Chrysler Group on Thursday announced two global recalls of more than 900,000 cars and SUVs combined for problems that could cause fires.

Private equity firm acquires York Risk Services for $1.325B

By: Sheena Harrison

Published October 13, 2014 - 12:18pm CST

Toronto-based private equity firm Onex Corp. has closed on a deal to acquire third-party administrator York Risk Services Group Inc. for $1.325 billion, York said in a statement.

Canada condo boom rolls on as buildings fall apart

Published October 13, 2014 - 11:45am CST

(Reuters) — While Toronto's housing boom rolls on, some of the housing itself is falling apart.

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