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Catastrophes


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PERILS discloses second property loss estimate of 234 million euros for extratropical cyclone Egon

April 12, 2017 by Canadian Underwriter

PERILS AG has disclosed its second loss estimate of 234 million euros for extratropical cyclone Egon, which affected France and Germany on Jan. 12 and 13 of this year. The cold front associated with Egon resulted in heavy rain and

News CatastrophesInsuranceMarkets / CoveragesPersonal Lines

Officials track slow Washington landslide near 2014 disaster

April 11, 2017 The Associated Press

OSO, Wash. – A slow-moving landslide near the site of a Washington state mudslide that wiped out a neighbourhood and killed 43 people in 2014 has prompted officials to close a state highway as a precaution and recommend evacuations for

News CatastrophesInsuranceMarkets / Coverages

Aon Benfield’s Tropical Storm Risk, Colorado State University issue forecast for 2017 Atlantic Hurricane Season

April 11, 2017 by Canadian Underwriter

Aon Benfield’s Tropical Storm Risk (TSR) and a research scientist at the Colorado State University (CSU) have both predicted 11 named storms, four hurricanes and two major (Category 3+) hurricanes between the months of June and November. TSR, part of

News CatastrophesClimate ChangeInsuranceMarkets / Coverages

U.S. senate committee holding field hearing on economic impacts of extreme weather and coastal flooding

April 10, 2017 by Canadian Underwriter

The U.S. Senate Committee on Commerce, Science & Transportation is holding a field hearing in West Palm Beach, Fl. to discuss the economic impacts of extreme weather and coastal flooding. Lead by Senator Bill Nelson (D-FL), the hearing, titled “Extreme

News CatastrophesInsuranceLegalLegislation / RegulationMarkets / Coverages

Lawyer warns pollution lawsuits in Alberta can proceed ‘well past the ultimate limitation period’

April 10, 2017 by Canadian Underwriter

A plaintiff could file a pollution lawsuit in Alberta “well past” the end of the limitation period, even if a hazardous substance was released more than 50 years ago, a lawyer warned in a recent blog post. Alberta’s Environmental Protection

News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

213 million euros initial loss estimate for extra-tropical cyclone Thomas: PERILS

April 10, 2017 by Canadian Underwriter

The initial estimate of the insured property market loss from extra-tropical cyclone Thomas is 213 million euros, representing the second time so far this season that a European winter storm exceeded 200 million euro, Zurich-based PERILS reports. The market loss

News CatastrophesInsurancePersonal LinesTechnology

ICLR to host webinar on lot-level approaches to control urban flood risk and mitigate basement flooding

April 7, 2017 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) will be hosting a webinar in two weeks on lot-level approaches to control urban flood risk and mitigate basement flooding. The webinar on April 21 at 10 a.m. Eastern time is part of

News CatastrophesCommercial LinesInsurancePersonal LinesProfessional DevelopmentReinsurance

Intact reports Q1 cat losses of $88 million, aims to double direct-to-consumer business in ‘near term’

April 7, 2017 by Canadian Underwriter

Intact Financial Corp. recently reported its catastrophe losses, net of reinsurance, were $88 million for the first three months of 2017. Toronto-based Intact also says it wants to “double” its direct-to-consumer business in the “mid-term” and is nominating Sylvie Paquette,

News AssociationsCatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

News CatastrophesCommercial LinesInsurancePersonal Lines

Southern U.S. crop losses from March storm could exceed $1 billion: Aon

April 7, 2017 by Canadian Underwriter

A weather system that brought sub-freezing temperatures to South Carolina and Georgia, as well as heavy rains in Peru were among the catastrophes with economic losses exceeding $1 billion in March, Aon plc’s Impact Forecasting unit reported Friday in its

News CatastrophesCommercial LinesInsuranceProductsReinsuranceTechnology

RMS releases new class of cyber-physical risk modelling for property insurers

April 6, 2017 by Canadian Underwriter

RMS has expanded its range of cyber models to include a new class of so-called cyber-physical models in a bid to answer the increasing related risk of insurance losses from hackers targeting control systems linked to the Internet. These cyber-physical

News CatastrophesInsuranceMarkets / Coverages

Red River crests in Winnipeg, flood watch issued west of the Manitoba capital

April 6, 2017 The Canadian Press

WINNIPEG – Manitoba flood officials say the Red River has crested in the provincial capital but water levels remain high in other parts of the province. The latest flood bulletin says the Red River reached its peak Tuesday but water