Canadian Underwriter

Topic
Catastrophes


News CatastrophesInsuranceMarkets / Coverages

Wildfire Grading Index launched following losses in Kelowna, Slave Lake and Fort McMurray

June 7, 2017 by Canadian Underwriter

Fire Underwriters Survey (FUS), a division of Opta Information Intelligence, has developed a new model for insurers to better understand the risk of wildfire-related losses. The model was developed after FUS studied the wildfire losses in Kelowna, Slave Lake and

News CatastrophesCommercial LinesInsuranceMergers and AcquisitionsTechnology

Use of captives for cyber liability programs increases 20% in 2016: Marsh report

June 7, 2017 by Canadian Underwriter

The number of owners using captives for cyber liability programs – up almost 20% last year – represented the fastest growing non-traditional risk in captives managed by Marsh Captive Solutions, the company notes in a new report this week. Fuelled

News CatastrophesClimate ChangeCommercial LinesInsurancePersonal LinesTechnology

Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey

June 6, 2017 by Canadian Underwriter

Greater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review

News CatastrophesInsuranceMarkets / CoveragesPersonal Lines

PERILS discloses second loss estimate of 259 million euros for extratropical cyclone Zeus

June 6, 2017 by Canadian Underwriter

PERILS AG has disclosed a second loss estimate for extratropical cyclone Zeus of 269 million euros. The revised estimate, released on Tuesday, is for the property insurance market loss, said PERILS, an independent organization based in Zurich, Switzerland that provides

News CatastrophesClimate ChangeInsurancePersonal Lines

Cat claims out West create stress for home insurers, proactive communications can bolster customer satisfaction: J.D. Power

June 6, 2017 by Canadian Underwriter

A spike in major claims resulting in record losses from catastrophic disasters across Canada over the last few years has created significant challenges for insurance carriers in 2017, a situation that has had an impact on customer satisfaction with the

News CatastrophesCommercial LinesConstructionInsurance

Large fire destroys lone grocery store in small, central New Brunswick town

June 5, 2017 The Canadian Press

MINTO, N.B. – A large fire that produced plumes of smoke that could be seen several kilometres away has destroyed a New Brunswick community’s only grocery store. RCMP Cpl. Kevin Jones said the Foodland on Main Street in Minto burned

News CatastrophesCommercial LinesInsurance

Fatal explosion closes Wisconsin corn mill plant

June 1, 2017 THE ASSOCIATED PRESS

CAMBRIA, Wis. – Recovery crews searched a mountain of debris for two workers on Thursday following an explosion at a corn mill plant that killed at least one employee, injured about a dozen others and levelled parts of the sprawling

News CatastrophesInsuranceLegislation / RegulationReinsurance

Reinsurance Association of America calls for increased competition in U.S. flood insurance

June 1, 2017 by Canadian Underwriter

The Reinsurance Association of America is calling on the U.S. government to encourage private-sector insurers to compete with the National Flood Insurance Program, which is scheduled to expire Sept. 30. NFIP was created in 1968. A property cannot qualify for

News CatastrophesConstructionInsurancePersonal Lines

Nearly 6.9 million U.S. homes at risk of hurricane storm surge damage in 2017: CoreLogic

June 1, 2017 by Canadian Underwriter

Nearly 6.9 million homes along the Atlantic and Gulf coasts in the United States are at potential risk of damage from hurricane storm surge inundation, according to CoreLogic’s 2017 Storm Surge Report. On Thursday, the global property information, analytics and

News CatastrophesInsuranceMarkets / CoveragesPersonal Lines

Forecast thunderstorms add to flooding concerns across southern B.C.

May 31, 2017 The Canadian Press

VANCOUVER – Residents in several areas of British Columbia are bracing for severe thunderstorms as another round of wicked weather bears down on flood-weary regions. Environment Canada has issued severe thunderstorm watches for areas including the Shuswap and Okanagan east

News CatastrophesInsuranceTechnology

Lack of oversight regarding security of third-party IoT implementation: survey

May 31, 2017 by Canadian Underwriter

A gap in understanding how best to mitigate and communicate risks around the Internet of Things (IoT) persists despite organizations reporting high concern about related security, notes a new report from Ponemon Institute and Shared Assessments Program. Released Wednesday, The

News CatastrophesCommercial LinesInsurancePersonal Lines

High lakes, variable weather, mean no foreseeable end to Okanagan flood: district

May 30, 2017 The Canadian Press

KELOWNA, B.C. – Officials with the City of Kelowna say gusty winds are the latest threat that could add to flooding woes in the Central Okanagan. City spokesman Tom Wilson says winds of up to 25 kilometres per hour are