Canadian Underwriter

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Catastrophes


News CatastrophesInsuranceTechnology

Need exists to embrace all tools, including social media, to enhance emergency management and response

June 8, 2016 Angela Stelmakowich, Editor

Social media can serve as an important tool in a scattergun approach that helps the public to be better informed, further engaged and more prepared in the event of an emergency or disaster, suggests Melanie Irons, PhD, psychology lecturer with

News CatastrophesInsuranceMergers and Aqcuisitions

Parts of Texas see 10 to 20 inches of rain in 24-hour period: AIR Worldwide

June 7, 2016 by Canadian Underwriter

Texas, still drying out from one of its wettest springs on record, received additional heavy rainfall during the last two weeks, causing major flooding throughout the state, catastrophe modelling firm AIR Worldwide said on Monday. AIR Worldwide said in a

News CatastrophesInsuranceMergers and Aqcuisitions

France creates emergency fund for people affected by floods

June 6, 2016 The Associated Press

PARIS – France is setting up an emergency fund to help those who lost everything after the worst floods in three decades caused the Seine River to burst its banks. Prime Minister Manuel Valls said Monday after a government meeting

News CatastrophesInsuranceMarkets / Coverages

Timing of economic rebound from Alberta wildfire hard to forecast: Poloz

June 6, 2016 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Bank of Canada governor Stephen Poloz says it’s hard to predict when the Canadian economy will rebound from the huge Alberta wildfire that destroyed communities and forced the shut down of crucial oil operations. For Poloz, part of

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Exercise Coastal Response to test B.C.’s earthquake and tsunami response

June 6, 2016 by Canadian Underwriter

The province of British Columbia is hosting an exercise to test the BC Earthquake Immediate Response Plan and promote interagency co-operation among both internal and external agencies that support emergency response. From Tuesday to Friday, Exercise Coastal Response, the province’s

News CatastrophesInsurance

‘There’s nothing left:’ The story of one man’s return to Fort McMurray

June 5, 2016 By Lauren Krugel - The Canadian Press

FORT MCMURRAY, Alta. – Farid El-Hayouni manages to keep it together until he sees what is left of his son’s bike. Along the drive up Highway 63 into Fort McMurray, he makes a series of matter-of-fact observations about what “the

News CatastrophesInsurance

Big cleanup job underway at downtown Fort McMurray brew pub

June 5, 2016 By Lauren Krugel – THE CANADIAN PRESS

FORT MCMURRAY, Alta. – On May 3, patrons at the Wood Buffalo Brewing Company on downtown Fort McMurray’s main drag had to leave their pints and plates on the table as a massive forest fire breached the city and everyone

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Optimum General offers overland water damage coverage for residences in Ontario and B.C.

June 3, 2016 by Canadian Underwriter

Montreal-based Optimum General Inc. announced on Friday that is has launched a residential policy endorsement in Ontario and British Columbia which now covers overland water damages. Optimum General said in a press release that the endorsement, which was launched on

News CatastrophesInsuranceMergers and Aqcuisitions

2015 U.K. storm Desmond loss estimate at 597 million pounds: PERILS

June 3, 2016 by Canadian Underwriter

PERILS AG has revised its loss estimate for the United Kingdom storm Desmond, down again from the previous loss estimate of 662 million pounds to the most current estimate of 597 million pounds. The third loss estimate for the floods

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Fort McMurray wildfire nearly 50% contained; no significant growth in two days: Alberta government

June 3, 2016 by Canadian Underwriter

The Fort McMurray wildfire remains out of control, but has not seen any significant growth over the past 48 hours and is nearly 50% contained, the government of Alberta said in a statement on Thursday. It is estimated to cover

News CatastrophesInsuranceMergers and Aqcuisitions

Seine still rising in Paris as streets flood, landmarks shut

June 3, 2016 Raphael Satter and Angela Charlton - THE ASSOCIATED PRESS

PARIS – The swollen Seine River kept rising Friday, spilling into Paris streets and forcing one landmark after another to shut on Friday. Across the city, parks and cemeteries were being closed as the city braced for flooding that could

News CatastrophesInsuranceMergers and Aqcuisitions

Fort McMurray wildfire loss estimate pegged at $4.6 billion: Property Claim Services data

June 2, 2016 by Canadian Underwriter

The massive Fort McMurray wildfire is expected to cost the Canadian insurance industry $4.6 billion, according to data from Property Claim Services (PCS), a Verisk Analytics business. The loss estimate of $4,630,800,000 includes property damage losses under residential, commercial and