Canadian Underwriter

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Catastrophes


Fracking oil rig drills in Oklahoma field.
News CatastrophesCommercial LinesInsuranceLegislation / Regulation

Oklahoma warns of more quakes from energy drilling

December 21, 2016 Tim Talley - THE ASSOCIATED PRESS

OKLAHOMA CITY – Oklahoma regulators said Tuesday that the number of induced earthquakes could increase as oil and gas production expands in a broad area of the state, and they’re telling energy companies that they need to be ready to

Firefighters Extinguishing House Fire
News CatastrophesInsuranceLegal

Court denies replacement value coverage on fire claim after owners plan to build larger structure on same Ottawa site

December 20, 2016 by Canadian Underwriter

In a fire insurance claim, the courts recognize that “the need to rebuild premises which more closely resembled the original” is critical in triggering coverage for replacement value rather than actual cash value, Dutton Brock LLP suggested in a bulletin

WEA Snow Metro Vancouver 20161219
News CatastrophesInsurancePersonal Lines

Blanket of wet snow cut off power, caused commuter woes across Metro Vancouver

December 20, 2016 The Canadian Press

VANCOUVER – A blanket of heavy, wet snow cut off power to thousands in British Columbia and caused commuter chaos in Metro Vancouver on Monday. The snowfall caused trees or branches to come down over power lines and at its

deicing
News CatastrophesInsurancePersonal LinesTechnology

B.C. transportation ministry to use helicopter to clear Vancouver-area bridge cables of snow

December 19, 2016 by Canadian Underwriter

British Columbia’s Ministry of Transportation and Infrastructure announced on Friday that it will use a heavy-lift helicopter to clear cables on the Alex Fraser bridge of ice and snow. Over the past couple of weeks, chunks of ice were reported

Oneida Nation Fire 20161215
News CatastrophesInsurancePersonal Lines

Minister pledges aboriginal housing improvements after fatal Ontario fire

December 19, 2016 Mike Blanchfield and Jim Bronskill - THE CANADIAN PRESS

OTTAWA – The federal government is determined to improve aboriginal housing, Indigenous Affairs Minister Carolyn Bennett said Friday after an Ontario chief blasted Ottawa for a lack of action following a deadly blaze that killed a family of five. The

The calm Bow River
News CatastrophesInsurance

Government of Alberta announces additional $45 million for flood and drought protection

December 19, 2016 by Canadian Underwriter

The government of Alberta has announced an additional $45 million in funding for flood and drought protection. Over the next four years, the government will invest an additional $31 million in the Alberta Community Resilience Program (ACRP) and $14 million

The Storm to come
News CatastrophesClimate ChangeInsuranceMarkets / Coverages

Global warming’s fingerprints seen in 24 weird weather cases

December 16, 2016 Seth Borenstein - THE ASSOCIATED PRESS

WASHINGTON – A new scientific report finds man-made climate change played some role in two dozen extreme weather events last year but not in a few other weird weather instances around the world. An annual report released Thursday by the

River Flood
News CatastrophesInsurancePersonal Lines

Flood insurance ‘must be affordable:’ IBAC

December 16, 2016 by Canadian Underwriter

Residential flood insurance should be available and affordable and the government should provide a backstop without being an “insurer of first resort,” the Insurance Brokers Association of Canada said in a document released this week. Personal flood insurance “must be

APTOPIX Japan Earthquake
News CatastrophesCommercial LinesInsuranceMarkets / CoveragesPersonal Lines

Total economic losses from nat, man-made disasters in 2016 at least US$158 billion: Swiss Re sigma estimate

December 15, 2016 by Canadian Underwriter

Total economic losses from natural and man-made disasters in 2016 were at least US$158 billion, 68% higher than the US$94 billion losses in 2015, according to preliminary Swiss Re sigma estimates released on Thursday. The US$158 billion estimate in total

APTOPIX Southern Wildfires
News CatastrophesCommercial LinesInsurancePersonal Lines

In Tennessee wildfires, officials estimate $500M in damage

December 14, 2016 Jonathan Mattise - THE ASSOCIATED PRESS

NASHVILLE – Deadly wildfires caused more than $500 million in damage as they tore through a tourism community in the foothills of the Great Smoky Mountains and killed 14 people, local officials estimated Tuesday. Sevier County Mayor Larry Waters put

The downtown of Goderich, Ontario still shows scars on the eve of the one year anniversary of an F3 tornado which ripped through the heart of the lakeside community August 21, 2011. THE CANADIAN PRESS/ Geoff Robins
News CatastrophesCommercial LinesConstructionInsurance

Dufferin County offers rebates to property owners who install hurricane straps

December 13, 2016 by Canadian Underwriter

Developers and property owners in Ontario’s Dufferin County are eligible for rebates if they install hurricane straps in their buildings, a county official says. Hurricane straps, which are metal bands that wrap around trusses and connect to walls, “can largely

Flood Red River 2011
News CatastrophesCommercial LinesInsurancePersonal Lines

Chance of “moderate to major flooding” in some locations in Manitoba, report says

December 13, 2016 by Canadian Underwriter

There is a chance of “moderate to major flooding” in some locations in Manitoba, according to the 2016 Fall Conditions Report from Manitoba Infrastructure. The report, released on Tuesday, indicates high levels of soil moisture at freeze-up in the western