Canadian Underwriter

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Catastrophes


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National Flood Insurance Program contributes to ‘development in flood prone areas,’ NWF executive testifies

June 12, 2017 by Canadian Underwriter

Private insurance companies in the United States are “clamouring” to write flood risk for properties while the nation’s National Flood Insurance Program encourages development in floodprone areas and needs to be “significantly reformed,” speakers recently told a committee of the

News CatastrophesInsurancePersonal Lines

Quebec homeowners face potential post-flooding woes: mosquitoes, critters, parasites

June 12, 2017 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – Even as swollen rivers have receded in Quebec, some experts suggest historic flooding this year could mean critter and pest-related woes in months and years to come. For now, heavy water accumulation has created standing pools of water

News CatastrophesCommercial LinesInsurance

Remote Manitoba town reports temporary loss of rail line

June 9, 2017 by Canadian Underwriter

The Town of Churchill in Manitoba is reporting the “temporary loss of its rail line” into the community from recent flooding. According to a statement from the town released earlier this week, “unprecedented” snowfall in March that resulted in over

News CatastrophesInsuranceMarkets / Coverages

Flood watches issued for several B.C. rivers in wake of powerful storms

June 9, 2017 The Canadian Press

VANCOUVER – Flood watches have been issued for several major waterways after torrential downpours hit parts of southern and central British Columbia. The River Forecast Centre says rivers throughout the Columbia and East Kootenay regions, including tributaries around Golden, Revelstoke

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City of Edmonton examining flood mitigation options

June 9, 2017 by Canadian Underwriter

Staff from the City of Edmonton are scheduled to look at flood mitigation options for the city as the next step in its examination of upgrades to drainage infrastructure. The city said in a press release earlier this week that

News CatastrophesCommercial LinesInsurancePersonal Lines

Report into Fort McMurray wildfire cites communications breakdown in early days

June 9, 2017 Dean Bennett - THE CANADIAN PRESS

EDMONTON – A report into the Fort McMurray wildfire cites critical communications breakdowns as the fire swept into the municipality and forced thousands to flee. Independent consultants that produced the report for the province noted that in the early days

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RMS updates North America quake models for U.S., Canada and Mexico

June 9, 2017 by Canadian Underwriter

RMS’s latest North America earthquake models – covering the United States, Canada, and Mexico – are designed to help company clients manage their risk accumulations with more confidence and help with underwriting a better book of business. Version 17.0 benefits

News CatastrophesInsurancePersonal Lines

B.C.’s River Forecast Centre issues high streamflow advisory, but flooding fears beginning to ease

June 8, 2017 by Canadian Underwriter

British Columbia’s River Forecast Centre (RFC) has issued a “high streamflow advisory” for the province’s South Peace region and surrounding areas. Issued at noon on Thursday, the advisory includes South Peace region and surrounding areas, including Pine Pass and tributaries

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XL Catlin launches new contractors pollution liability program in Canada and the U.S.

June 8, 2017 by Canadian Underwriter

XL Catlin announced on Thursday that it has launched its new Contractors Pollution Liability Express Program in Canada and the United States to provide consumers with “speed to market and a streamlined environmental insurance underwriting approach” for small to midsize

News CatastrophesCommercial LinesInsuranceMarkets / CoveragesPersonal Lines

May storms in Ontario, Quebec and the Maritimes caused hundreds of millions in damage and damaged more than 5,200 homes: Aon Benfield

June 8, 2017 by Canadian Underwriter

Several low pressure systems that brought heavy rainfall to portions of Ontario, Quebec and the Maritimes last month caused “hundreds of millions” in U.S. dollars and damaged more than 5,200 homes, according to Impact Forecasting’s latest Global Catastrophe Recap for

News CatastrophesConstructionInsuranceMarkets / CoveragesPersonal Lines

Southern Alberta town ravaged by 2013 flood sees development as promising sign

June 8, 2017 The Canadian Press

HIGH RIVER, Alta. – A new housing and retail development in High River, Alta., is being hailed as proof of renewed confidence in the town’s ability to handle another flood event. Massive floods that raged through southern Alberta in the

News CatastrophesClimate ChangeCommercial LinesInsurance

XL Catlin extends global property insurance capacity

June 8, 2017 by Canadian Underwriter

Increasing property values and concern over natural catastrophe exposures in the United States and Canada were among the factors mentioned in XL Catlin’s announcement Wednesday it had extended global property insurance capacity by 25% to US$500 million. XL Catlin reports