Canadian Underwriter

Topic
Catastrophes


News CatastrophesClimate ChangeInsurance

Canada’s p&c industry projected to see underwriting profit for 2015; capital will follow opportunity: Cook

January 12, 2016 Angela Stelmakowich, Editor

“Capital tends to follow opportunity,” and while Canada is currently viewed as a region affording opportunity, the property and casualty insurance industry here could experience significant pressure if investors start regarding other areas as greener pastures, Philip Cook, CEO of

News CatastrophesInsuranceMergers and Aqcuisitions

B.C. seeking input on future of Emergency Program Act

January 12, 2016 by Canadian Underwriter

The province of British Columbia is seeking input on the future of the Emergency Program Act (EPA) through an online public engagement website. The site will be open until Friday, Feb. 19 at 4 p.m. PDT, the Ministry of Transportation

News CatastrophesInsurance

U.S. National Centre for Atmospheric Research selects supercomputer to aid climate change, severe weather research

January 12, 2016 by Canadian Underwriter

The U.S. National Center for Atmospheric Research (NCAR) announced on Monday today that it has selected a new supercomputer named Cheyenne to help researchers across the country studying climate change, severe weather, geomagnetic storms, seismic activity, air quality, wildfires and

News CatastrophesInsurance

Pickering, Ontario nuclear power plant approved to continue operating after 2020

January 12, 2016 by Canadian Underwriter

The Ontario government announced Tuesday it has approved a plan to continue operating the Pickering nuclear power plant, located about five kilometres east of the Toronto city limits, after 2020. Pickering is one of two nuclear plants operated by Ontario

News CatastrophesInsuranceMergers and Aqcuisitions

Ford, University of Michigan test autonomous vehicles in wintry conditions

January 12, 2016 by Canadian Underwriter

Ford and the University of Michigan said on Monday that they have conducted what they believe are the first tests of autonomous vehicles in wintry conditions. The automaker and university tested the vehicles in Michigan and on the university’s 32-acre

News CatastrophesInsurance

B.C. issues final submission for Kinder Morgan’s Trans Mountain pipeline expansion project

January 11, 2016 by Canadian Underwriter

The province of British Columbia has reaffirmed its five conditions for any heavy oil pipeline – including Kinder Morgan’s Trans Mountain expansion project – to receive provincial support. In its final written submission to the National Energy Board (NEB) panel

News CatastrophesInsuranceMergers and Aqcuisitions

Firefighting funds depleted: Record number of wildfires in Canadian parks

January 11, 2016 Bob Weber - THE CANADIAN PRESS

Wildfires scorched a record amount of Canada’s national parks last year – the latest in a number of long, hot summers that have almost entirely depleted Parks Canada’s firefighting reserve. “We had a very busy fire year,” said director of

News CatastrophesInsuranceMergers and Aqcuisitions

Federal, Manitoba governments expanding network of weather stations

January 8, 2016 by Canadian Underwriter

The federal and Manitoba governments announced on Friday that they are expanding the province’s network of automated weather stations to provide farmers with more accurate information on rain and snowfall distribution. Manitoba has a total of 61 automated stations operated

News CatastrophesInsuranceMergers and Aqcuisitions

Field crews measure record flooding along Mississippi, Ohio Rivers

January 8, 2016 by Canadian Underwriter

Field crews with the U.S. Geological Survey (USGS) are measuring record flooding on rivers and streams in 12 states across the country, with more than 50 preliminary record-high flood measurements along the Mississippi and Ohio Rivers and their tributaries. The

News CatastrophesInsuranceMergers and Aqcuisitions

Alberta government meets with residents affected by last summer’s flood

January 8, 2016 The Canadian Press

CHESTERMERE, Alta. – The Alberta government is beginning to meet with residents affected by a massive rain and hail storm which flooded streets in Chestermere last July. Residents in Chestermere and Rocky View County will have until March 16 to

News CatastrophesInsuranceMergers and Aqcuisitions

Final property market loss estimate for Europe’s windstorm Elon-Felix totals 329 million euros: PERILS

January 8, 2016 by Canadian Underwriter

Windstorm Elon-Felix, which affected western and northern Europe in January 2015, resulted in a final loss estimate of 329 million euros, according to PERILS AG, a Zurich-based insurance industry initiative that provides exposure and event loss data. Issued on Friday,

News CatastrophesInsuranceMergers and Aqcuisitions

Property catastrophe reinsurance rates decline on January 1 renewals: Fitch

January 8, 2016 by Canadian Underwriter

International property catastrophe reinsurance rates dropped from 5% to 15% on renewal Jan. 1, after a quiet Atlantic hurricane season and with the availability of alternative sources of capital, Fitch Ratings Inc. suggested Wednesday. “Based on broker and market reports,