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Catastrophes


News CatastrophesInsuranceMergers and Aqcuisitions

Agricultural firms handling fertilizer, pesticides need to assess pollution risk: Chubb

March 11, 2016 by Canadian Underwriter

Farming operations handling fertilizers and pesticides could have “significant gaps” in insurance coverage due to pollution risk, Chubb Ltd. warned in a paper released Friday in the United States. “Typical agricultural policies provide only limited coverage in specific circumstances for

News CatastrophesInsuranceMergers and Aqcuisitions

More rain soaks north Louisiana, the SE part awaits the same

March 10, 2016 Bill Fuller and Gerald Herbert - THE ASSOCIATED PRESS

BOSSIER CITY, La. – A thousand people were forced to leave their homes early Thursday as a second round of unusually heavy rain hit an already inundated northern Louisiana. The southern part of the state was bracing for heavy rain

News CatastrophesInsuranceMergers and Aqcuisitions

Strong gusts down trees, cut power to thousands of B.C. south coast homes

March 10, 2016 The Canadian Press

VANCOUVER – A powerful windstorm knocked out electricity to tens of thousands of customers across B.C.’s south coast early Thursday morning. Environment Canada says potentially damaging wind gusts of up to 90 kilometres per hour are sweeping across most of

News CatastrophesInsuranceMergers and Aqcuisitions

U.S. winter storm that affected eastern Canada estimated to cost millions of U.S. dollars in economic losses: Impact Forecasting

March 9, 2016 by Canadian Underwriter

Total economic losses from the late February winter storm in the United States that was felt in eastern Canada are estimated in the millions of dollars (U.S.), according to Impact Forecasting’s latest Global Catastrophe Recap. The report, released on Tuesday,

News CatastrophesInsurance

Tokyo Electric predicts remaining contaminated Fukushima water to be treated in four years

March 8, 2016 Mari Yamaguchi - THE ASSOCIATED PRESS

TOKYO – After battling radioactive water leaks for five years at Japan’s crippled Fukushima Dai-Ichi nuclear plant, the utility that ran it says it will need another four to finish the job. “We will bring an end to the problem

News CatastrophesInsuranceMergers and Aqcuisitions

Heavy rain leads to evacuations, rescues in California

March 7, 2016 The Associated Press

SACRAMENTO, Calif. – A woman died in Northern California after being trapped in a car that became submerged in floodwater on a section of highway that was closed amid heavy rain, authorities said Sunday. The casualty was reported after a

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Co-ordinated effort limited contractor fraud following 2013’s F-5 tornado in Oklahoma

March 7, 2016 by Canadian Underwriter

Unprecedented planning and co-ordinated efforts by state and local authorities, law enforcement and the insurance industry provided the means to protect the public from fly-by-night contractors, suggests the National Insurance Crime Bureau (NICB). “Preparation in advance of the F-5 tornado

News CatastrophesInsuranceMergers and Aqcuisitions

U.K. storm Desmond estimated to cost 662 million pounds: PERILS AG

March 4, 2016 by Canadian Underwriter

PERILS AG has revised its estimate of the property insurance market loss from United Kingdom storm Desmond to 662 million pounds, down 55 million pounds from the original loss estimate of 717 pounds. Zurich-based PERILS, an industry initiative aimed at

News CatastrophesInsuranceMergers and Aqcuisitions

GC Securities completes cat bond notes on behalf of XL Insurance

March 4, 2016 by Canadian Underwriter

For the first time since XL Group plc’s acquisition of Catlin Group Limited, XL Catlin has utilized the 144A cat bond market as part of catastrophe bond Galileo Re Ltd., which provides aggregate protection against, among other things, earthquakes affecting

News CatastrophesInsurance

Underinsured furniture vendor loses lawsuit against landlord arising from water damage

March 3, 2016 by Canadian Underwriter

The Court of Appeal for Ontario recently ruled against a furniture and lighting fixture dealer, whose premises were flooded, based in part on a trilogy of Supreme Court of Canada rulings from the 1970s involving agreements to insure between landlords

News CatastrophesInsuranceMergers and Aqcuisitions

Alberta government provides grants to support fire and emergency preparedness training

March 3, 2016 by Canadian Underwriter

The Government of Alberta announced on Wednesday that it will provide $650,000 to 50 municipalities and four First Nations to support fire and emergency preparedness training. The Fire Services Emergency Preparedness Program provides grant funding to municipalities and First Nations

News CatastrophesInsuranceMergers and Aqcuisitions

British Columbia proposes amendments to spill preparedness and response legislation

March 1, 2016 by Canadian Underwriter

British Columbia’s Ministry of Environment announced on Monday amendments to the Environmental Management Act (EMA), which, if passed, will establish a “world-leading” spill preparedness and response regime to address environmental emergencies in the province. The proposed spills regime will ensure