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Catastrophes


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Data-driven methodology allows (re)insurers to identify liability risk exposure across entire portfolios

March 16, 2017 by Canadian Underwriter

Lloyd’s reports that a partnership with modelling company Arium has produced a data-driven methodology that will allow (re)insurers to model liability risk exposure probabilistically across entire portfolios. The approach – the result of a three-year project between Lloyd’s and Arium

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsuranceTechnology

Munich Re operating result down in 2016 from 2015, new partnerships could answer changing client demands

March 16, 2017 by Canadian Underwriter

Munich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in

News CatastrophesCommercial Lines

Explosion, fire hit Alberta Syncrude oilsands site

March 15, 2017 THE CANADIAN PRESS

FORT MCMURRAY, Alta. – Syncrude says most of its workforce has returned to an oilsands site in northern Alberta after an explosion and fire Tuesday. But company spokesman Will Gibson couldn’t say whether production has resumed after a fire erupted

News Catastrophes

Hazmat spill from truck kills driver, closes Ontario highway 401

March 15, 2017 THE CANADIAN PRESS

A stretch of Highway 401 through eastern Ontario remained closed early Wednesday following weather-related collisions that left one person dead, 28 people injured and officials scrambling to contain a chemical spill. Ontario Provincial Police say there were two collisions on

News AssociationsCatastrophesClimate ChangeInsuranceReinsurance

IBC supports regional platform for disaster risk reduction outcomes, vows to continue working with government

March 15, 2017 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s continued support for efforts by the federal government to enhance disaster risk reduction and make communities more resilient. “Our industry remains committed to being a full partner with

News Catastrophes

U.S. northeast winter storm grounds more than 5,000 flights

March 14, 2017 Deepti Hajela - THE ASSOCIATED PRESS

NEW YORK – A storm expected to drop more than a foot of snow pounded the United States Northeast on Tuesday, paralyzing much of the Washington-to-Boston corridor after a remarkably mild February had lulled people into thinking the worst of

News CatastrophesCommercial Lines

Investigation report into MD-83 crash that killed 153 released

March 14, 2017 Jon Gambrell - THE ASSOCIATED PRESS

DUBAI, United Arab Emirates – The pilots of a Nigerian airliner failed to follow emergency procedures and didn’t land after one of the plane’s two engines lost power only minutes into the flight, according to a government investigation into the

News CatastrophesClimate ChangeInsurancePersonal Lines

Desjardins Insurance offers new flood coverage for low-, medium-risk areas

March 14, 2017 by Canadian Underwriter

Customers of Desjardins Insurance, The Personal and State Farm Canada who live in low-risk flood areas will now automatically be covered by a new flood endorsement while those in medium-risk areas can choose to purchase an additional premium. Endorsement 16d

News CatastrophesInsurance

Newfoundland Power crews describe weekend storm as ‘worse than hurricane Igor’

March 13, 2017 THE CANADIAN PRESS

JOHN’S, N.L. – Newfoundland Power is continuing work to restore electricity to areas of the province ravaged by a massive weekend windstorm. Utility spokeswoman Michele Coughlan said 5,000 customers were still without power early Monday – a figure down from

News CatastrophesInsuranceMarkets / Coverages

Southeastern Saskatchewan should expect above normal spring runoff flows: Water Security Agency

March 10, 2017 by Canadian Underwriter

The Saskatchewan Water Security Agency (WSA) has released its March 2017 Spring Runoff Forecast, saying that the majority of the province is looking at a near normal spring runoff, “with the exception of southeastern Saskatchewan and areas west of Hudson

News CatastrophesCommercial LinesInsurancePersonal Lines

Slower winds in forecast could aid crews battling wildfires

March 9, 2017 Heather Hollingsworth - THE ASSOCIATED PRESS

KANSAS CITY, Mo. – The winds fueling deadly wildfires that scorched vast swathes of land in four Plains states finally dropped Thursday, bringing hope to crews trying to contain the blazes. Emergency personnel warned, however, that extremely dry conditions and

News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

Outbreak of severe convective storms across U.S. Midwest causing widespread damage in Missouri, Iowa and Minnesota: RMS

March 9, 2017 by Canadian Underwriter

As of March 8, cumulative preliminary tornado, hail and straight-line wind reports in the United States for the year have all been more than double their respective 2005-2015 averages, according to the records of the National Oceanic and Atmospheric Administration’s