Keyword
china
Telematics subscribers using embedded systems to reach 170 million worldwide by 2021, from 26.5 million at the end of 2015: report
December 21, 2016 by Canadian UnderwriterThe number of telematics service subscribers using embedded systems will grow at a compound annual growth rate (CAGR) of 36.4% from 26.5 million subscribers at the end of 2015 to 170.2 million subscribers at the end of 2021, according to…
A.M. Best maintains global reinsurance sector outlook at negative
December 13, 2016 by Canadian UnderwriterA.M. Best Company is holding its outlook for the global reinsurance sector at negative, citing the continued market challenges that will hinder the potential for positive rating actions over time and may eventually translate into negative rating pressures. The Best’s…
Typhoons in September cost global economy more than US$4 billion: Aon
October 6, 2016 by Canadian UnderwriterTropical cyclones throughout the world in September have cost the global economy more than US$4 billion, according to the latest edition of Aon Benfield’s Global Catastrophe Recap report, released on Thursday. The Global Catastrophe Recap, from Impact Forecasting, Aon Benfield’s…
Insured losses in mainland China from Typhoon Meranti between US$650 million and US$1.15 billion: AIR
September 30, 2016 by Canadian UnderwriterCatastrophe modelling firm AIR Worldwide is estimating insured losses in mainland China from Typhoon Meranti earlier this month at between US$650 million and US$1.15 billion. Typhoon Meranti experienced rapid intensification on Sept. 11-12, with wind speed increasing more than 150…
Dozens missing in landslides south of Shanghai following Typhoon Megi
September 29, 2016 THE ASSOCIATED PRESSBEIJING – At least 32 people were reported missing Thursday after rain-saturated hillsides collapsed onto villages in southeastern China following a typhoon. A rescue operation was underway in Sucun village in China’s Zhejiang province, south of the financial hub of…
Paris climate change agreement passes key threshold
September 21, 2016 Michael Astor - THE ASSOCIATED PRESSThirty-one countries formally joined the Paris climate change pact Wednesday, bringing the total number of countries ratifying the treaty to 60 and raising hopes that it will enter into effect by the end of the year. The number is higher…
Meranti southeast China’s most powerful typhoon in decades
September 16, 2016 by Canadian UnderwriterAlthough Typhoon Meranti weakened significantly as it approached China, it still came ashore with a central pressure of 940 mbar, the equivalent of a Category 4 hurricane – the strongest typhoon in the region since 1949, according to catastrophe modelling…
Fed minutes: Conditions could ‘soon warrant’ a rate hike
August 17, 2016 Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON – Federal Reserve officials believed last month that near-term risks to the U.S. economy had subsided and that an interest rate increase could soon be warranted. But they did not indicate when they would likely raise rates. The minutes…
Worst flooding since 1998 leaves US$33 billion economic toll in China: Aon’s Impact Forecasting
August 4, 2016 by Canadian UnderwriterFlooding in China in July caused an estimated US$33 billion in economic losses, but claims payouts represented less than 2% of the cost, according to Impact Forecasting’s monthly Global Catastrophe Recap. The report from Impact Forecasting, Aon Benfield’s catastrophe model…
Citing cyber ‘revolution,’ Obama issues attack response plan
July 26, 2016 Josh Lederman - THE ASSOCIATED PRESSWASHINGTON – The White House warned Tuesday of a “revolution” of computer-generated threats to the U.S. stoked by growing cyber aggression by traditional U.S. foes like Russia and North Korea, and issued a colour-coded response plan for the federal government…
$850 million in economic losses from floods in China
July 4, 2016 THE ASSOCIATED PRESSBEIJING – Three days of heavy rain in southern China have left 50 people dead and another 12 missing and destroyed thousands of homes, authorities said Sunday, as areas along the Yangtze River braced for more floods. Torrential rains caused…
Tornado shuts down Canadian company’s solar cell factory in China, no material impact anticipated
June 28, 2016 by Canadian UnderwriterEmergency team members have been dispatched to help employees and communities affected by the tornado that damaged and shut down Canadian Solar’s solar cell factory in China, although it is not anticipated the event will have a material impact on…