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Catastrophes


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Travelers’ net income up 9% in Q4 2016 to US$943 million

January 24, 2017 by Canadian Underwriter

The Travelers Companies, Inc. has reported a net income of US$943 million for the fourth quarter of last year ending Dec. 31, 2016, up 9% from US$866 million in the prior-year quarter. Travelers released its financial results on Tuesday, noting

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

ILS sector set to gather pace after subdued 2016: Aon study

January 23, 2017 by Canadian Underwriter

The insurance-linked securities (ILS) sector is set to gather steam this year, with a record amount of catastrophe bonds to mature in the first half of 2017, according to a new report from Aon Securities. Aon Securities, the investment banking

News CatastrophesCommercial LinesInsurancePersonal Lines

More tornadoes ahead as death toll reach 15 in southeast U.S.

January 23, 2017 Pamela Sampson - THE ASSOCIATED PRESS

ATLANTA – A weekend of deadly weather in the Southeast killed 15 people and injured dozens more, authorities said Sunday, while residents along the Georgia-Florida line were bracing for more intense, fast-moving storms – including unusually strong “long track” twisters.

News CatastrophesCommercial LinesInsurancePersonal Lines

Rain, snow storms pummel the U.S. West; more wet weather on way

January 20, 2017 Scott Sonner - THE ASSOCIATED PRESS

RENO, Nev. – More winter snow and rain pummeled the West on Thursday as the first in a series of expected storms soaked morning commuters in much of California, dumped 18 more inches of snow in the Sierra Nevada and

News CatastrophesInsuranceMarkets / Coverages

Joy erupts as Italian rescuers pull out avalanche survivors

January 20, 2017 Paolo Santalucia and Gregorio Borgia - THE ASSOCIATED PRESS

FARINDOLA, Italy – With cheers of joy, rescue crews pulled survivors from the debris of an avalanche-crushed hotel in central Italy on Friday, an incredible discovery that boosted spirits two days after the massive snow slide buried around 30 people

News CatastrophesInsuranceMarkets / Coverages

Rescuers search for 30 after avalanche hits Italian hotel

January 19, 2017 Colleen Barry, Nicole Winfield and Valentina Onori - THE ASSOCIATED PRESS

PENNE, Italy – Rescue workers reported no signs of life Thursday at a four-star hotel buried by an avalanche in the mountains of earthquake-stricken central Italy. Two bodies were recovered of the estimated 30 people trapped inside as the risk

News CatastrophesClimate ChangeInsuranceMarkets / Coverages

NOAA and partners develop new regional sea level scenarios to help U.S. communities prepare for risks

January 19, 2017 by Canadian Underwriter

The National Oceanic and Atmospheric Administration (NOAA) and its partners have developed new regional sea level scenarios for the United States to give coastal communities better and more localized data to help them plan for and adapt to the risks

News CatastrophesInsurance

First of three more storms hits California as drought retreats

January 19, 2017 John Antczak - THE ASSOCIATED PRESS

LOS ANGELES – The worst area of drought in California has significantly narrowed to a small region northwest of Los Angeles that has stubbornly failed to benefit from Pacific storms that have drenched much of the state since the fall

News CatastrophesCommercial LinesInsurancePersonal Lines

Financial impact of Fort McMurray wildfire reaches $9.5 billion: study

January 17, 2017 Bob Weber - THE CANADIAN PRESS

EDMONTON – An assessment of the total financial impact of last spring’s Fort McMurray wildfire is pegging the direct and indirect costs of the blaze at $9.5 billion. The figure includes the expense of replacing buildings and infrastructure as well

News CatastrophesClimate ChangeCommercial LinesInsuranceMarkets / CoveragesPersonal Lines

Economic losses from nat cat events in 2016 total US$210 billion, the highest loss amount in four years: Aon Benfield

January 17, 2017 by Canadian Underwriter

Three hundred and fifteen natural catastrophe events in 2016 generated economic losses of US$210 billion, the highest loss amount in four years and 21% above the 16-average of US$174 billion, according to Aon Benfield’s 2016 Annual Global Climate and Catastrophe

News CatastrophesCommercial LinesInsurancePersonal Lines

School, town hall, RCMP office on fire in southern Newfoundland: police

January 17, 2017 The Canadian Press

MILLTOWN, N.L. – Police have taken one person into custody after the local school, town hall and police station all caught fire in a small community on Newfoundland’s south coast. RCMP Cpl. Trevor O’Keefe said calls started coming in at

News CatastrophesCommercial LinesInsurance

Tugs finally free tanker stranded in Cape Breton, N.S., for a week

January 16, 2017 The Canadian Press

SYDNEY, N.S. – A tanker that ran aground off the coast of Nova Scotia has returned to port after being stuck in shallow water for a week. The coast guard and salvage crews freed the Arca 1 from a bay