Zurich Insurance has proposed a 5.6 billion pound ($8.8 billion) conditional bid for UK rival RSA, in what has been described as a “friendly” takeover offer, Bloomberg News reports. RSA’s shares rose 4.8% in the London markets on Tuesday morning to 518.5 pence, slightly below Zurich’s proposal of 550 pence per share. Zurich has until September 22 to make a formal offer, which could be hampered by RSA’s pension deficit and other regulatory considerations. The proposal follows a month of...

First, insurance barred a Canadian NBA star from competing in the 2016 Olympics qualifying tournaments in Mexico City. Now industry concerns may be responsible for halting the construction of an almost $1 billion dollar NHL stadium complex in Calgary, Alberta. CalgaryNEXT, a proposed hockey arena, football field and multisport venue, aspires to open on the banks of the Bow River, near the west side of downtown Calgary, according to the Calgary Herald. This has raised a red flag with John...

American International Group Inc. and Axis Capital Holdings Ltd. have been named as the insurance providers for Avid Life Media Inc., the Toronto-based company that owns AshleyMadison.com, according to Bloomberg. The website, recently victim to a cyber-attack that resulted in the release of 37 million members’ personal data, is now facing a lawsuit that seeks more than $500 million in damages. Sources familiar with the matter claim that AIG provided the company’s D&O policies while Axis...

Cats and dogs can be surprisingly smart and perceptive creatures – and they can also do things like swallow an entire barbecue skewer in one sitting. While responding to these crises can be stressful, oftentimes pet owners have no choice but to laugh at their furry friends’ silliness, once they’ve recovered. As a result, Nationwide Mutual Insurance Company issues a “Hambone Award” (and trophy!) to whichever little rascal boasted the most unusual or bizarre claim that year. The award itself is...

Two Vancouver men are being held in custody for their alleged involvement in a series of violent crimes committed against 15 students and staff at the Justice Institute for British Columbia, according to the National Post. Although the police were initially uncertain how the crimes were related, a security breach at the Insurance Corporation of British Columbia (ICBC) linked them to the Justice Institute, a New Westminster-based organization that provides training on law enforcement and...