Canadian Underwriter

Topic
Catastrophes


News CatastrophesEarnings / RatingsInsurance

Personal lines cat ratio up 9.3 points at Intact due in part to Fort McMurray

February 8, 2017 by Canadian Underwriter

Intact Financial Corp. released Wednesday its financial results for 2016, reporting a 5% increase in direct premiums written and a 40% drop in underwriting income during a year when Canada’s most expensive natural disaster cost the firm $400 million before

News CatastrophesCommercial LinesInsurancePersonal Lines

Dozens injured in tornadoes across southern Louisiana

February 8, 2017 Kevin McGill - THE ASSOCIATED PRESS

NEW ORLEANS – Brittany Ross remembers she was savoring the smell of her aunt’s simmering white beans when the storm that injured about 40 people in southeastern Louisiana hit. “The place started shaking, kind of twisting,” she said Tuesday as

News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

Munich Re posts profit of 2.6 billion euros for 2016; Fort McMurray wildfire cost 404 million euros

February 7, 2017 by Canadian Underwriter

Munich Re reported on Tuesday a consolidated result of 2.6 billion euros for 2016, including a 0.5 billion euro profit in the fourth quarter of 2016 ending Dec. 31 compared to 0.7 billion euros in the previous year quarter. Munich

News CatastrophesEarnings / RatingsInsurance

Q3 combined ratio improves 2.1 points for Allstate

February 6, 2017 by Canadian Underwriter

The Allstate Corp. has released its financial results for 2016, reporting catastrophe losses of $2.572 billion for the calendar year, up 49.6% from $1.719 billion in 2015. All figures are in United States dollars. The combined ratio for Northbrook, Ill.-based

News CatastrophesInsuranceMarkets / Coverages

Chief in Bella Bella, B.C. demands action on wildfire near coastal community

February 6, 2017 The Canadian Press

BELLA BELLA, B.C. – The chief of a village near British Columbia’s Great Bear Rainforest says members of the First Nations community fought a wildfire on their own this weekend after they were unable to get help from provincial government

News CatastrophesInsuranceMarkets / CoveragesTechnology

Global IoT insurance market to reach nearly US$43 billion by 2022: study

February 6, 2017 by Canadian Underwriter

The global Internet of Things (IoT) insurance market is estimated to grow dramatically at a compound annual growth rate (CAGR) of 65.89% to reach US$42.76 billion by 2022 from 2016, according to a new report from Research and Markets. The

News CatastrophesInsuranceMarkets / Coverages

Blast of winter smashes snowfall records in Abbotsford, Vancouver

February 6, 2017 The Canadian Press

ABBOTSFORD, B.C. – Snowfall records across southern British Columbia are falling as a winter storm continues to wallop the region. The white stuff has been flying since Friday, prompting Environment Canada to issue snowfall warnings for many areas along the

News CatastrophesInsuranceMarkets / Coverages

Blackout with no transformer damage ‘very likely scenario’ from geomagnetic disturbance: C4 speaker

February 3, 2017 Greg Meckbach, Associate Editor

The insurance industry needs “a better understanding” of the probable impact of a coronal mass ejection or other extreme space event, but studies estimating losses in the hundreds of billions are pessimistic, a speaker from Swiss Re suggested Thursday at

News CatastrophesInsuranceMarkets / Coverages

Conditions prompting risk of “moderate to major” overland flooding across Manitoba: infrastructure minister

February 3, 2017 by Canadian Underwriter

Normal to well-above normal soil moisture and winter precipitation to date, combined with future unfavourable weather conditions, will result in the risk of moderate to major overland flooding across the province of Manitoba, the provincial infrastructure minister said earlier this

News CatastrophesInsurancePersonal Lines

Burlington, Airdrie city officials share lessons from 2014 weather disasters

February 2, 2017 Greg Meckbach, Associate Editor

A rain storm in Burlington, Ont. during the summer of 2014 prompted officials from the upper tier of municipal government to take measures to address flood risk on homeowners’ properties, a speaker told insurance professionals at a conference Thursday. On

Feature Catastrophes

Claims in Action

February 2, 2017 Pat Van Bakel, Chief Executive Officer, Crawford Canada

The scale and complexity of the Fort McMurray wildfire sparked a multitude of claims issues for the insurance industry as a whole. But a concerted effort by all stakeholders helped insurers address the many and unique challenges in the aftermath of the record loss.

News CatastrophesInsuranceMarkets / CoveragesProfessional Development

Third annual Wildfire Community Preparedness Day launched

February 2, 2017 by Canadian Underwriter

The third annual Wildfire Community Preparedness Day (WCPD) will be held on May 6, the Partners in Protection Association/FireSmart Canada said on Thursday. People in communities throughout Canada will have an opportunity to apply for funding to support efforts to