Small-business insurers need to enhance the services offered by their traditional agency channel to avoid losing market share to a growing number of online competitors.
The 2015 fire season set a new record for the number of acres burned in the United States, while more and more people live in areas that are prone to wildfires, resulting in a recipe for disaster.
The wildfires spreading around Canadas oil-sands hub of Fort McMurray may become the costliest catastrophe in the countrys history with losses potentially reaching $7.3 billion.
Evan Greenberg, who built one of the worlds largest insurers by combining Ace Ltd. and Chubb Corp. this year, sought to portray the merged company as a more stable alternative than hobbled rivals who are seeking to rebound.
More than 80,000 people have been forced to flee their homes as wildfires tore through a northern Alberta community, reducing entire neighborhoods to ash.