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Estimated insured damage for June storm in central Alberta upwards of $30 million

July 17, 2017 by Canadian Underwriter

A severe storm that swept through central Alberta in the third week of June is estimated to have caused more than $30 million in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc.

News CatastrophesInsuranceMarkets / CoveragesPersonal Lines

Cladding may have helped spread London high rise fire, experts say

June 15, 2017 Gregory Katz - THE ASSOCIATED PRESS

LONDON – The official cause may not be known for months. The death toll is unclear – and rising. No one has said exactly where the fire started. But experts suspect recent renovations at the Grenfell Tower, including newly installed

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FM Global launches worldwide flood map for commercial properties

April 4, 2017 by Canadian Underwriter

Commercial property insurer FM Global announced on Tuesday that it has launched its Global Flood Map, offering a “one-stop consistent global view of flood exposure to aid businesses.” The interactive Global Flood Map “presents business executives with a powerful new

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 LinesEarnings / RatingsInsuranceMarkets / CoveragesPersonal LinesReinsurance

Flash estimate for insured losses from Hurricane Hermine US$500 million: KCC

September 6, 2016 by Canadian Underwriter

The current flash estimate of insured losses associated with Hurricane Hermine – likely to produce in excess of 50,000 claims – approaches US$500 million, with total economic damages almost US$1 billion, Karen Clark & Company (KCC) reported Friday. “The storm

News CatastrophesClimate ChangeConstructionInsurance

Climate change forcing builders to rethink how they design structures: expert

June 27, 2016 Alexandra Posadzki - THE CANADIAN PRESS

TORONTO – Severe weather events like wildfires and floods are becoming more frequent and more difficult to predict, forcing architects and engineers to rethink how they design buildings, infrastructure and cities. Brock Schroeder, managing director of engineering firm Entuitive, says