Canadian Underwriter

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Catastrophes


News CatastrophesInsuranceMarkets / Coverages

Blast of winter smashes snowfall records in Abbotsford, Vancouver

February 6, 2017 The Canadian Press

ABBOTSFORD, B.C. – Snowfall records across southern British Columbia are falling as a winter storm continues to wallop the region. The white stuff has been flying since Friday, prompting Environment Canada to issue snowfall warnings for many areas along the

News CatastrophesInsuranceMarkets / Coverages

Blackout with no transformer damage ‘very likely scenario’ from geomagnetic disturbance: C4 speaker

February 3, 2017 Greg Meckbach, Associate Editor

The insurance industry needs “a better understanding” of the probable impact of a coronal mass ejection or other extreme space event, but studies estimating losses in the hundreds of billions are pessimistic, a speaker from Swiss Re suggested Thursday at

News CatastrophesInsuranceMarkets / Coverages

Conditions prompting risk of “moderate to major” overland flooding across Manitoba: infrastructure minister

February 3, 2017 by Canadian Underwriter

Normal to well-above normal soil moisture and winter precipitation to date, combined with future unfavourable weather conditions, will result in the risk of moderate to major overland flooding across the province of Manitoba, the provincial infrastructure minister said earlier this

News CatastrophesInsurancePersonal Lines

Burlington, Airdrie city officials share lessons from 2014 weather disasters

February 2, 2017 Greg Meckbach, Associate Editor

A rain storm in Burlington, Ont. during the summer of 2014 prompted officials from the upper tier of municipal government to take measures to address flood risk on homeowners’ properties, a speaker told insurance professionals at a conference Thursday. On

Feature Catastrophes

Claims in Action

February 2, 2017 Pat Van Bakel, Chief Executive Officer, Crawford Canada

The scale and complexity of the Fort McMurray wildfire sparked a multitude of claims issues for the insurance industry as a whole. But a concerted effort by all stakeholders helped insurers address the many and unique challenges in the aftermath of the record loss.

News CatastrophesInsuranceMarkets / CoveragesProfessional Development

Third annual Wildfire Community Preparedness Day launched

February 2, 2017 by Canadian Underwriter

The third annual Wildfire Community Preparedness Day (WCPD) will be held on May 6, the Partners in Protection Association/FireSmart Canada said on Thursday. People in communities throughout Canada will have an opportunity to apply for funding to support efforts to

News CatastrophesCommercial LinesInsuranceMarkets / Coverages

Second, smaller spill reported in Saskatchewan by Tundra Energy Marketing Ltd.

February 2, 2017 The Canadian Press

STORTHOAKS, Sask. – The Calgary-based company handling a pipeline spill that saw 200,000 litres of crude leaked onto First Nations farmland in Saskatchewan is now dealing with another, albeit much smaller, spill. On Wednesday night, the National Energy Board issued

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

XL Group reports P&C combined ratio of 94.8% for Q4 2016

February 2, 2017 by Canadian Underwriter

XL Group Ltd. has reported a P&C combined ratio of 94.8% for the fourth quarter of 2016 ending Dec. 31, up 2.5% from the prior-year quarter. For the full year 2016, XL Group reported a combined ratio of 94.2% compared

News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

Terrorism insurance gaps demand rethinking focus on property: C4 2017 speaker

February 2, 2017 by Angela Stelmakowich

Terrorism insurance programs need a reset to ensure clients are appropriately covered in light of the continuing shift from attacks on property to attacks on people designed to produce mass casualties, Scott Bolton, the U.K.-based director of business development and

News CatastrophesClimate ChangeCommercial LinesPersonal LinesReinsurance

2016 sees highest-ever catastrophe insured losses, hail has impact: Rennie

February 1, 2017 by Angela Stelmakowich

2016 was a year of records: the largest catastrophe-related insured losses in Canada’s history, the biggest loss for a single Cat and the most hail events in the month of July, Carolyn Rennie, managing director of Catastrophe Indices and Quantification

News CatastrophesInsuranceMarkets / Coverages

Still thousands without power as cleanup continues in New Brunswick

February 1, 2017 The Canadian Press

LAMEQUE, N.B. – There are still about eight thousand customers awaiting the return of electricity in northern New Brunswick today, more than a week after the ice storm that wreaked havoc in the province. The NB Power website shows many

News CatastrophesCommercial LinesInsurancePersonal Lines

PERILS enters into strategic alliance with CatIQ to provide industry loss data for Canada

February 1, 2017 by Canadian Underwriter

PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, announced on Wednesday that it has entered into a strategic alliance with Toronto-based Catastrophe Indices & Quantification Inc. (CatIQ) to provide industry loss data for Canada. With immediate effect,