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Feature Stories and Daily News from Canadian Underwriter

Gas company fined US$1.4 billion in connection with San Francisco pipeline explosion

SAN FRANCISCO — California regulatory judges have issued a US$1.4 billion penalty against the state's largest utility for a 2010 gas pipeline explosion that engulfed a suburban San Francisco neighbourhood in fire, killing eight people and...
Sep 2, 2014


Burlington, Ontario flood damage estimated at $90 million

The Insurance Bureau of Canada announced Tuesday that a rain storm last month in Burlington, Ontario caused more than $90 million in insured damage, according to preliminary estimate from Verisk Analytics Inc.'s Property Claims Services (PCS)...
Sep 2, 2014


Tropical Storm Dolly threatens northeast Mexico with flash floods, high winds

Tropical Storm Dolly, which Willis Re Inc. predicted would make landfall Tuesday night or Wednesday morning, is expected to produce heavy rain with "life-threatening flash floods" in northeastern areas of Mexico south of Texas.
Sep 2, 2014


Nova Scotia government announces flood risk reduction project funding

The Government of Nova Scotia announced Friday it will provide $147,500 to support five projects meant to help communities investigate the causes of flooding and explore solutions.
Sep 2, 2014


Hancock assumes role as American International Group president & CEO

American International Group, Inc. (AIG) announced Monday that in accordance with the company's succession plan, Peter D. Hancock has assumed the role of president and chief executive officer.
Sep 2, 2014


Aon Benfield sources reinsurance for AEGIS London cyber coverage

Aon Benfield has sourced the reinsurance capacity for a cyber product that offers a comprehensive cyber risk management service - focusing on both operational and information technology breaches - and allows AEGIS' policyholders to separately...
Sep 2, 2014


Malaysia Airlines to shed 6,000 staff as part of overhaul plan after disasters

KUALA LUMPUR, Malaysia - Malaysia Airlines will cut 6,000 workers as part of a $1.9 billion overhaul announced Friday to revive its damaged brand after being hit by double passenger jet disasters.
Aug 29, 2014


JPMorgan working with law enforcement officials on possible cyberattack

NEW YORK - JPMorgan Chase, the nation's biggest bank by assets, is working with law enforcement officials to investigate a possible cyberattack, said a person familiar with the situation who spoke on condition of anonymity, though the bank...
Aug 29, 2014


FEMA denies Hawaii's major disaster declaration request because storm damage not severe enough

HONOLULU - The Federal Emergency Management Agency on Thursday denied Hawaii's request for a major disaster declaration after Tropical Storm Iselle.
Aug 29, 2014


Willis Re Canada's Wildbore returns to U.K., replaced by Geoff Lubert

Willis Re Inc. announced Thursday it has appointed Geoff Lubert as managing director and executive vice president of Willis Re Canada, replacing Robert Wildbore.
Aug 29, 2014


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