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Flooding in Ontario and Quebec in April and May estimated to cost “well into the millions” in U.S. dollars: Aon Benfield

May 9, 2017 by Canadian Underwriter

Flooding in multiple communities in southern Ontario and Quebec in April and into May is estimated to cost “well into the millions of dollars (USD)” in economic losses, Impact Forecasting said on Tuesday in its Global Catastrophe Recap report for

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Volcanic eruption could cost large cities up to US$30 billion, new Swiss Re model says

March 27, 2017 by Canadian Underwriter

Total economic losses from volcanic eruptions could cost large cities up to US$30 billion, according to a new volcano model from Swiss Re. Calling it the “world’s first global volcano model,” the probabilistic model assesses risk in the case of

News CatastrophesCommercial LinesInsurancePersonal Lines

Severe weather outbreaks in U.S. in February lead to billion-dollar payout for insurance industry: Aon Benfield

March 8, 2017 by Canadian Underwriter

Prolific severe weather outbreaks in the United States lead to an expected billion-dollar payout for the insurance industry as no fewer than five outbreaks of severe weather impacted portions of the country during February, according to Impact Forecasting’s latest Global

News InsuranceMarkets / Coverages

Sea kidnappings rise in 2016 despite plummeting global piracy, report says

January 10, 2017 by Canadian Underwriter

More crew members were kidnapped at sea in 2016 than in any of the previous 10 years, despite global piracy reaching its lowest levels since 1998, the International Chamber of Commerce’s International Maritime Bureau (IMB) reported on Tuesday. In its