Keyword
impact forecasting
What insurers paid out for the latest Ontario storm
June 26, 2018 by Jason ContantA brief but powerful thunderstorm that rolled through southern Ontario on June 13 has been declared a notable claims event by Catastrophe Indices and Quantification Inc. (CatIQ). While the storm did not meet the catastrophe threshold of at least $25…
Ontario ice storm catches the eye of global reinsurance brokerage
April 20, 2018 by Greg MeckbachSevere weather earlier this week in Ontario has caught the attention of reinsurance providers. Impact Forecasting LLC, a unit of reinsurance brokerage Aon Benfield, noted Friday that winter weather starting April 13 “left considerable damage across southern sections of Canada’s…
Aon Benfield suggests Brantford flooding will cost “tens of millions”
March 9, 2018 by Jason ContantAon Benfield’s catastrophe model development team, Impact Forecasting, is estimating total economic and insured losses in the tens of millions (U.S. dollars) for the recent flooding in southern Ontario. Catastrophe Indices and Quantification Inc. (CatIQ) told Canadian Underwriter in late…
California wildfires could cost insurers up to US$8 billion: Aon Benfield
November 9, 2017 by Canadian UnderwriterHistoric wildfires in portions of California last month could cost insurers as much as US$8 billion, according to Aon Benfield’s Global Catastrophe Recap for October. The report, released on Thursday by Impact Forecasting, the catastrophe modelling development centre of Aon…
Record month of Atlantic tropical cyclones leads to major financial toll: Aon Benfield
October 5, 2017 by Canadian UnderwriterHurricanes Irma and Maria as well as three powerful earthquakes in Mexico resulted in tens of billions of dollars (U.S.) in damage last month, according to Impact Forecasting’s latest monthly Global Catastrophe Recap report. Impact Forecasting, Aon Benfield’s cat model…
Hurricane Harvey likely to be one of the costliest natural disasters on record for U.S. economy: Aon Benfield
September 8, 2017 by Canadian UnderwriterHurricane Harvey is likely to be one of the costliest natural disasters on record for the economy of the United States, with damage from the hurricane to minimally cost tens of billions of dollars, Aon Benfield has reported. Impact Forecasting,…
CatIQ enters into agreement with Impact Forecasting to use cat event flood response footprints for Canada
August 11, 2017 Jason Contant, Online EditorToronto-based Catastrophe Indices and Quantification Inc. (CatIQ) announced that they have entered into an agreement whereby Impact Forecasting’s cat event response flood footprints for Canada will be made available as a layer on CatIQ’s CatHUB module. “Aon Impact Forecasting’s Canadian…
Asia records US$11 billion economic loss from heavy flooding in July, western Canada affected by wildfires, severe weather: Aon
August 8, 2017 by Canadian UnderwriterRelentless seasonal flooding that began in mid-June resulted in continued fatalities and damage across parts of Asia in July, causing an estimated US$11 billion in economic losses, according to Impact Forecasting’s latest Global Catastrophe Recap report. On Tuesday, Impact Forecasting,…
Allstate estimates June catastrophe losses at US$335 million
July 24, 2017 by Canadian UnderwriterThe Allstate Corp. announced July 20 it estimates its catastrophe losses for the three months ending June 30 will be $993 million, pre-tax, of which $310 million is from 17 events in June alone. Northbrook, Ill.-based Allstate reported in August,…
Estimated insured damage for June storm in central Alberta upwards of $30 million
July 17, 2017 by Canadian UnderwriterA 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.…
Hannover Re, Guy Carpenter place $960 million worth of ILS transactions in three U.S. states
July 12, 2017 by Canadian UnderwriterHannover Re announced Wednesday it has completed three insurance-linked securities transactions, through Marsh and McLennan Companies Inc.’s GC Securities unit, with a total value of $960 million. All figures are in United States dollars. Hannover Re said it transferred $750…
Saskatoon thunderstorm estimated to cost over US$30 million, floods and convective storms cost global economy US$5 billion in June: Aon Benfield
July 6, 2017 by Canadian UnderwriterA thunderstorm over Saskatoon on June 2 that spawned ping pong ball-sized hail is estimated to cost more than US$30 million, Aon Benfield said in its Global Catastrophe Recap report for the month of June. The fast-developing thunderstorm caused the…