Casualty
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Billion dollar challenge for ship operators and insurers as Panama Canal expands
NEW YORK, N.Y.–As the Panama Canal prepares to celebrate its 100th anniversary, insurers are warning of the increased risks that will arise from its plan to double the cargo-carrying capacity of ships transiting one of the world’s most important waterways.…
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IBC says cargo theft reporting program pays dividends
TORONTO, Ont.–After a recent police raid, Insurance Bureau of Canada’s (IBC’s) cargo theft reporting program helped police to identify the owners of approximately $1.4 million in stolen property – the result of 15 separate cargo load thefts over the past…
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Canada’s Deputy Minister of Transport meets with Zurich Insurance to discuss trends in railway insurance
SCHAUMBURG, Ill.–Property and casualty insurance provider Zurich’s Ron Mathewson, Assistant Vice President of the Railroad Specialty practice, met with Louis Lévesque, Canadian Deputy Minister of Transport, Infrastructure and Communities to discuss insuring railways, said a Zurich press release. While precise details of the conversation were not released, Deputy Minister…
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IBC applauds BC government’s initiative to prepare for “catastrophic seismic event”
VANCOUVER, B. C.–The Insurance Bureau of Canada (IBC) has applauded today’s announcement by the Government of British Columbia for initiating a consultation and public education campaign on all aspects of earthquake preparedness and response. “The Property & Casualty insurance industry…
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Bison Transport named grand prize winner at TCA’s National Safety Awards
KISSIMMEE, Fla. – Bison Transport was named the grand prize winner in the large carrier division at the Truckload Carrriers Association’s coveted National Safety Awards last night. Erb International and N. Yanke Transfer meanwhile were winners in the 15 to…
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Last year safest in freight railroad history: AAR
WASHINGTON, D.C. — The Association of American Railroads has deemed 2009 the safest year in freight railroad history. Preliminary year-end data indicates the train accident rate, employee casualty rate and grade crossing incident rates were all at record low levels…
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Chubb expands online commercial inland marine system capabilities;
WARREN, NJ, — The Chubb Group of Insurance Companies has expanded its online commercial inland marine system used by agents and brokers to quote, bind and issue insurance policies. The system, u.writer, now features broader underwriting parameters to permit more…
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CN Rail faces challenges in second quarter
MONTREAL, Que. — Canadian National Railway’s second-quarter financial and operating results showed a mixture of gains and loses when compared to the same period last year. Diluted earnings per share declined 6% to $0.95, net income declined 11% to $459…
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CN third quarter results “exceptional”, according to railway’s CEO
MONTREAL, Que. — CN has reported a 9% increase in its revenues and a 21% increase in its net income for the third quarter. E. Hunter Harrison, president and chief executive officer, described CN’s results as “exceptional” and said they…
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Arrow Truck Sales launches new programs
Mississauga, ON- Arrow Truck Sales has launched its Arrow Advantage partnership program with aim to improve the overall buyer experience, says the company. The campaign, "Arrow Advantage One Stop Is All You Need" is a two-part program, the first part…