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earthquakes

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PERILS discloses second property loss estimate of 234 million euros for extratropical cyclone Egon

April 12, 2017 by Canadian Underwriter

PERILS AG has disclosed its second loss estimate of 234 million euros for extratropical cyclone Egon, which affected France and Germany on Jan. 12 and 13 of this year. The cold front associated with Egon resulted in heavy rain and

News CatastrophesClimate ChangeCommercial LinesInsurancePersonal LinesReinsurance

Global insured losses from disasters up 42%, economic losses almost double in 2016 over 2015: Swiss Re

March 28, 2017 by Canadian Underwriter

Both economic and insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012 – reversing a four-year downtrend – amounting to US$54 billion and US$175 billion, respectively, notes the latest sigma study from the Swiss

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Largest single loss for Hannover Re in 2016 was the Fort McMurray wildfire, with net cost of 127.9 million euros

March 10, 2017 by Canadian Underwriter

The largest single loss for Hannover Re last year was the Fort McMurray wildfire, with a “net strain” of 127.9 million euros, the reinsurer reported on Thursday. Hannover Re released its financial results on Thursday, reporting a Group net income

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Series of October earthquakes in Italy spur 125 million euro loss estimate: PERILS

January 27, 2017 by Canadian Underwriter

The series of earthquakes that hit central Italy in late October last year has prompted a property insurance market loss estimate of 125 million euros, PERILS AG reports. The quakes had on impact on the regions of Lazio, Marche and

News CatastrophesInsuranceMarkets / Coverages

Joy erupts as Italian rescuers pull out avalanche survivors

January 20, 2017 Paolo Santalucia and Gregorio Borgia - THE ASSOCIATED PRESS

FARINDOLA, Italy – With cheers of joy, rescue crews pulled survivors from the debris of an avalanche-crushed hotel in central Italy on Friday, an incredible discovery that boosted spirits two days after the massive snow slide buried around 30 people

News CatastrophesClimate ChangeInsuranceTechnology

Research on earthquakes, tsunamis and climate change to benefit from federal investment of $46.6 million to Ocean Networks Canada

January 10, 2017 by Canadian Underwriter

The federal government has provided a five-year $46.6 million investment to the University of Victoria’s (UVic) Ocean Networks Canada (ONC) to support its continued research and development. ONC pioneers ocean observatories that stream live data 24/7 to researchers across Canada

News CatastrophesClimate ChangeCommercial LinesInsurancePersonal LinesReinsurance

2016 costliest 12 months for natural catastrophes in the last four years: Munich Re

January 4, 2017 by Canadian Underwriter

The US$175 billion in natural catastrophes losses in 2016 – the lion’s share of which were uninsured – dwarfed those in the previous year and were just shy of 2012’s US$180 billion total, Munich Re reports. The research released Wednesday

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Oklahoma warns of more quakes from energy drilling

December 21, 2016 Tim Talley - THE ASSOCIATED PRESS

OKLAHOMA CITY – Oklahoma regulators said Tuesday that the number of induced earthquakes could increase as oil and gas production expands in a broad area of the state, and they’re telling energy companies that they need to be ready to

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Total economic losses from nat, man-made disasters in 2016 at least US$158 billion: Swiss Re sigma estimate

December 15, 2016 by Canadian Underwriter

Total economic losses from natural and man-made disasters in 2016 were at least US$158 billion, 68% higher than the US$94 billion losses in 2015, according to preliminary Swiss Re sigma estimates released on Thursday. The US$158 billion estimate in total

News CatastrophesInsuranceMarkets / Coverages

After new energy regulations, Oklahoma’s earthquake rate drops

November 30, 2016 Seth Borenstein - THE ASSOCIATED PRESS

WASHINGTON – The rate of earthquakes in Oklahoma has dropped dramatically since late May, when the state limited wastewater injections into energy wells, an Associated Press statistical analysis shows. And a new scientific study says the state is on its

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Powerful aftershocks, some as high as magnitude-6.5, strike New Zealand after original M7.8 earthquake: AIR

November 15, 2016 by Canadian Underwriter

Powerful aftershocks have shaken New Zealand since a magnitude-7.8 earthquake struck South Island near Hanmer Springs at 12:02 a.m. local time on Nov. 14, some as strong as magnitude-6.5, AIR Worldwide said on Monday. Although damage has been relatively light,

News CatastrophesInsuranceMarkets / Coverages

Officials in quake ridden central Italy assess damage

October 28, 2016 Alessandra Tarantino and Colleen Barry - THE ASSOCIATED PRESS

VISSO, Italy – Officials in central Italy began early Thursday to assess the damage caused by a pair of strong earthquakes in the same region of central Italy hit by a deadly quake in August, as an appeal went out