Canadian Underwriter

Topic
Catastrophes


News CatastrophesInsuranceMarkets / Coverages

Portland, parts of Washington buried by massive snowstorm

January 12, 2017 Steven Dubois - THE ASSOCIATED PRESS

PORTLAND, Ore. – A major snowstorm spread Wednesday through Portland and parts of Washington state – toppling trees, closing schools and cutting power to thousands in the heaviest snowfall for the city since at least 2008. Some Portland neighbourhoods got

Trans Mountain 20170111
News CatastrophesCommercial LinesConstructionInsurance

Canadian pipeline applications to require more emergency response information

January 12, 2017 by Canadian Underwriter

The National Energy Board (NEB), an independent federal regulator of several parts of Canada’s energy industry, announced on Wednesday that it will require companies to provide additional emergency response detail during the pipeline application phase of a project. NEB said

Driving on an empty road towards the setting sun and sunbeams to upcoming new 2017 year and leaving 2016 behind. Concept for success and passing time.
News AssociationsCatastrophesClimate ChangeInsuranceTechnology

Strategic planning of Canada’s p&c industry must extend to five, 10 years: Cook

January 11, 2017 by Angela Stelmakowich

Canada’s property and casualty insurance industry must look farther ahead in its strategic planning than it may be used to ensure it fully grasps developing conditions and can address related changes, Philip Cook, CEO of Omega Insurance Holdings Inc., suggested

Vector : Decreasing graph and arrow on red stock board
News AssociationsCatastrophesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

Canada becoming less attractive option for investors: Cook

January 11, 2017 by Angela Stelmakowich

Anticipated less-than-stellar financial results for Canada’s property and casualty industry in 2016 will likely contribute to the market becoming less attractive to investors and absent significant improvement, it is unlikely the current level of capital will remain in the country,

California Storms
News CatastrophesCommercial LinesInsurancePersonal Lines

Small tornado touches down as storm wallops California

January 11, 2017 Eric Risberg and Janie Har - THE ASSOCIATED PRESS

SAN FRANCISCO – A small tornado was whipped up as part of a powerful band of thunderstorms that moved through Northern California during the latest deluge that has downed trees, swollen rivers and prompted evacuations over flood fears. The tornado

News CatastrophesClimate ChangeInsuranceTechnology

Research on earthquakes, tsunamis and climate change to benefit from federal investment of $46.6 million to Ocean Networks Canada

January 10, 2017 by Canadian Underwriter

The federal government has provided a five-year $46.6 million investment to the University of Victoria’s (UVic) Ocean Networks Canada (ONC) to support its continued research and development. ONC pioneers ocean observatories that stream live data 24/7 to researchers across Canada

Huge hurricane between Florida and Cuba. Elements of this image furnished by NASA
News CatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

2016 Q4 preliminary loss estimate for natural catastrophes US$245 million: XL Group

January 10, 2017 by Canadian Underwriter

XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net

California Storms
News CatastrophesCommercial LinesInsurancePersonal Lines

Storm floods vineyards, forces evacuations in Calif., Nevada

January 9, 2017 Ellen Knickmeyer - THE ASSOCIATED PRESS

FORESTVILLE, Calif. – A massive storm system stretching from California into Nevada lifted rivers climbing out of their banks, flooded vineyards and forced people to evacuate after warnings that hillsides parched by wildfires could give way to mudslides. Northern California’s

Deep South Weather
News CatastrophesClimate ChangeCommercial LinesInsurancePersonal Lines

15 U.S. weather and climate disasters in 2016 caused US$46 billion in damages: NOAA

January 9, 2017 by Canadian Underwriter

The United States experienced 15 “weather and climate disasters” last year – each with losses exceeding US$1 billion – for a total of US$46 billion, the National Oceanic and Atmospheric Administration (NOAA) reported on Monday. The disasters, which included eight

News CatastrophesCommercial LinesInsurancePersonal Lines

Winter storm dumps 35 centimetres of snow on parts of Atlantic Canada

January 9, 2017 The Canadian Press

HALIFAX – Parts of Atlantic Canada were digging out Sunday after a winter storm dumped 35 centimetres of snow on some areas. Environment Canada says as much as 35 centimetres of snow fell over parts of Nova Scotia and P.E.I.

Financial Analysis
News CatastrophesInsuranceMarkets / CoveragesReinsurance

Catastrophe bond issuance has ‘gradually tapered off:’ A.M. Best

January 7, 2017 by Canadian Underwriter

The entry of third-party capital into the reinsurance market appears to be slowing down, while demands from reinsurers “for further concessions in terms” appear to be diminishing, A.M. Best Company Inc. suggested in a report released Friday. Oldwick, N.J.-based A.M.

Plows Clearing the Road of Snow
News CatastrophesCommercial LinesInsuranceMarkets / CoveragesPersonal Lines

States of emergency declared in Alabama, Georgia and the Carolinas ahead of winter storm

January 6, 2017 Jeff Martin and Tom Foreman Jr. - THE ASSOCIATED PRESS

ATLANTA – Shoppers emptied shelves of bread and milk, road workers began working 12-hour shifts, and states of emergency were declared in Alabama, Georgia and the Carolinas ahead of a winter storm stalking the South. Winter storm warnings were issued