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Catastrophes


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Standards Council of Canada, Intact Centre on Climate Adaption to study flood resiliency for new residential communities

March 31, 2017 by Canadian Underwriter

The Standards Council of Canada (SCC) and the Intact Centre on Climate Adaptation (Intact Centre) at the University of Waterloo have announced that they are joining forces to develop a new report on best practices for making new residential communities

News AssociationsCatastrophesClimate ChangeInsurance

Openness to making homes, businesses resilient to severe weather encouraging: OMIA’s John Taylor

March 31, 2017 by Angela Stelmakowich

There are encouraging signs from government, municipalities and builders that resiliency needs to become part of building code conversations given that severe weather shows no signs of abating, suggested John Taylor, president and CEO of the Ontario Mutual Insurance Association

News CatastrophesCommercial LinesInsurance

Ten charges laid in oil spill that fouled English Bay beaches in Vancouver

March 30, 2017 Laura Kane - THE CANADIAN PRESS

VANCOUVER – Charges have been laid against the owners of the MV Marathassa nearly two years after a leak of bunker fuel onto the beaches of English Bay in Vancouver, but the company is trying to scuttle the proceedings. Documents

News CatastrophesCommercial LinesInsurancePersonal Lines

Cyclone Debbie barrels into Australia with damaging winds, flooding rain: AIR

March 29, 2017 by Canadian Underwriter

Australia is experiencing its most powerful storm since 2011, as Cyclone Debbie roared ashore in Queensland, Australia as a Category 4 storm shortly after noon on Tuesday. Catastrophe modelling firm AIR Worldwide said that Cyclone Debbie struck Airlie Beach as

News CatastrophesInsuranceMarkets / CoveragesTechnology

Government of British Columbia invests in tsunami, earthquake warning systems

March 28, 2017 by Canadian Underwriter

The government of British Columbia has announced $550,000 in funding for increased capability for tsunami warnings and the potential to provide earthquake early warnings. British Columbia’s Ministry of Transportation and Infrastructure said in a statement on Tuesday that the $550,000

News CatastrophesCommercial LinesInsuranceMarkets / CoveragesPersonal LinesProductsTechnology

The Guarantee launches two new water endorsements

March 28, 2017 by Canadian Underwriter

The Guarantee Company of North America has announced two water endorsements, which came into effect on Monday for new businesses and on May 23 for renewals. The GUARANTEE GOLD H2O+ and Guarantee SUPERIOR H2O+ endorsements are comprehensive, read-in coverage that

News CatastrophesInsurancePersonal Lines

Landslide alert issued in same B.C. community where four were killed in 2012

March 28, 2017 The Canadian Press

JOHNSONS LANDING, B.C. – A tiny British Columbia community where four people were killed in a landslide almost five years ago has been warned of another possible slide. An evacuation alert has been issued for residents of Johnsons Landing on

News CatastrophesClimate ChangeCommercial LinesInsurancePersonal LinesReinsurance

Global insured losses from disasters up 42%, economic losses almost double in 2016 over 2015: Swiss Re

March 28, 2017 by Canadian Underwriter

Both economic and insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012 – reversing a four-year downtrend – amounting to US$54 billion and US$175 billion, respectively, notes the latest sigma study from the Swiss

News CatastrophesCommercial LinesInsuranceLegislation / RegulationMarkets / Coverages

Saskatchewan government announces steps to improve pipeline regulations following 2016 Husky spill

March 27, 2017 by Canadian Underwriter

The government of Saskatchewan has announced steps to improve pipeline regulations after the completion of its investigation into last July’s Husky pipeline oil spill. Energy and Resources Minister Dustin Duncan announced last week that the Ministry of the Economy had

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Volcanic eruption could cost large cities up to US$30 billion, new Swiss Re model says

March 27, 2017 by Canadian Underwriter

Total economic losses from volcanic eruptions could cost large cities up to US$30 billion, according to a new volcano model from Swiss Re. Calling it the “world’s first global volcano model,” the probabilistic model assesses risk in the case of

News CatastrophesInsuranceMarkets / Coverages

Flood risk remains moderate to major in western Manitoba, eases in Red River Valley: provincial government

March 27, 2017 by Canadian Underwriter

While the risk of overland flooding in Manitoba has been slightly reduced since the provincial government’s outlook in late February, it still remains moderate to major across the province, the provincial infrastructure minister said on Friday. “‎The province’s Hydrologic Forecast

News CatastrophesClimate ChangeCommercial LinesInsurancePersonal LinesReinsurance

Risk management overhaul necessary for cities to become more resilient to catastrophic events: report

March 27, 2017 by Canadian Underwriter

Officials for cities, investors and insurers will increasingly need to “build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty,” argues a new report from Lloyd’s and Arup. “While risk management remains a