Topic
Catastrophes
Winter storm closes schools in parts of New Brunswick, Nova Scotia and P.E.I.
December 15, 2015 The Canadian PressHALIFAX – A storm bringing a messy mix of snow, rain and high winds closed schools in parts of the Maritimes and affected marine travel in the region. Environment Canada said up to 25 centimetres of snow was expected Tuesday…
Q3 cat bond issuances include earthquake coverage with ‘cat-in-a-box’ trigger
December 15, 2015 by Canadian UnderwriterTotal catastrophe bond issuance was US$21.709 billion as of Sept. 30, and while one issuance in the third quarter provides earthquake coverage in British Columbia, more than 70% of outstanding bonds are exposed to U.S. tropical cyclones and earthquakes, Guy…
Canada’s environment minister hails Paris Agreement on climate change
December 15, 2015 by Canadian UnderwriterCanada’s Minister of Environment and Climate Change, Catherine McKenna, has hailed the Paris Agreement on climate change that was adopted by 195 countries on Saturday at the Conference of Parties (COP21). “Collectively, the countries of the world agreed to strengthen…
Government of Alberta adopts 2013 flood recommendations
December 15, 2015 by Canadian UnderwriterThe government of Alberta said on Friday that it has accepted 15 recommendations and one in principle in relation to an independent review of the province’s response to the 2013 floods, the most widespread and costliest disaster in Alberta’s history.…
Thousands evacuated as powerful typhoon slams into eastern Philippines
December 14, 2015 THE ASSOCIATED PRESSMANILA, Philippines – Thousands of residents evacuated as Typhoon Melor slammed into the eastern Philippines, where flood- and landslide-prone communities are bracing for destructive winds, heavy rains and coastal floods of up to 4 metres, officials said Monday. Classes and…
U.S. National Flood Insurance Program should include ‘greater participation’ from private market: Marsh
December 11, 2015 by Canadian UnderwriterInsurers that contract with the United States National Flood Insurance Program should be allowed to write their own polices, and modern technologies should be used to evaluate property risk without having to rely on physical inspections, Marsh & McLennan Companies…
Two women die in heavy rains that drenched Oregon, Washington
December 10, 2015 Manuel Valdes and Lisa Baumann - THE ASSOCIATED PRESSFALL CITY, Wash. – While much of the Pacific Northwest on Wednesday got a respite from rains that have pummeled the region for days, mudslides and flooding rivers triggered multiple rescues and claimed the life of a woman after her…
Alberta to demolish 17 homes affected by 2013 flooding
December 10, 2015 by Canadian UnderwriterThe province of Alberta has decided to demolish 17 homes along the Elbow River that were damaged by the massive flooding in 2013. The Ministry of Municipal Affairs said in a statement on Wednesday that the province evaluated its options…
B.C. joins international alliance for zero-emission vehicles
December 10, 2015 by Canadian UnderwriterBritish Columbia has become the 14th jurisdiction to sign on to the International Zero-Emission Vehicle (ZEV) Alliance, whose members strive to make all new passenger vehicles in their jurisdictions ZEVs by no later than 2050. B.C. Environment Minister Mary Polak…
IBC study estimates future costs of specific severe weather events stemming from climate change
December 10, 2015 by Canadian UnderwriterCanadian communities need to adapt to avoid the projected increasing costs due to climate change, according to a study released on Wednesday by the Insurance Bureau of Canada (IBC). The Economic Impacts of the Weather Effects of Climate Change, released…
U.S. insurers’ catastrophe management preparation sound, with opportunities for improvement: PCS
December 10, 2015 by Canadian UnderwriterMost insurers in the United States have numerous pieces in place to launch effectively into action when catastrophes strike, most notably the near universal use of a catastrophe plan manual, according to a new report from Property Claims Services (PCS),…
Pushed by climate change: Lake in Northwest Territories falls off cliff
December 9, 2015 The Canadian PressYELLOWKNIFE – In a dramatic example of how climate change is altering the Arctic landscape, a small northern lake has fallen off a cliff after bursting through the melting earthen rampart that restrained it. A video released Wednesday by the…