Topic
Catastrophes
Verisk Insurance Solutions expands FireLine to Western Canada
May 26, 2016 by Canadian UnderwriterVerisk Insurance Solutions announced on Thursday that it is expanding its FireLine wildfire risk management service to include the provinces of Alberta and British Columbia. FireLine, which is well-established in the western United States, enables property-specific assessment of wildfire risk…
2016 Canadian wildfire season has already “greatly surpassed” average hectares burned, even excluding Fort McMurray event, CIFF conference hears
May 26, 2016 Jason Contant, Online EditorThe 2016 wildfire season in Canada has already greatly surpassed the average hectares burned in recent years, even excluding the massive Fort McMurray wildfire, attendees to the 2016 Canadian Insurance Financial Forum (CIFF) heard on Wednesday. Carolyn Rennie, managing director…
Floods in U.K. expected to produce repair bill of £1.3 billion, good progress on repairs to date
May 26, 2016 by Canadian UnderwriterThe average cost of a domestic claim for the floods caused by Storms Desmond, Eva and Frank – which hit the United Kingdom in December and early January – is higher than usual, with the Association of British Insurers (ABI)…
Internet fragmentation among top emerging risks for the reinsurance industry, society: Swiss Re
May 25, 2016 by Canadian UnderwriterInternet fragmentation is among the top three emerging risks – of the 21 detailed in Swiss Re’s latest SONAR report released Wednesday – with the highest potential impact on the reinsurance industry and society. “Firewalls, special software to filter out…
Athabasca, Syncrude bring back project staff as wildfire risk recedes
May 24, 2016 Dan Healing - THE CANADIAN PRESSCALGARY – Alberta oilsands workers forced to flee the ferocious Fort McMurray wildfire are returning to begin the tricky process of restarting their projects in northern Alberta, reassured by colder weather and a forecast of rain. In a Tuesday morning…
B.C. provides $1.47 million for flood mitigation project near Fairmont Hot Springs Resort
May 24, 2016 by Canadian UnderwriterThe province of British Columbia announced on Friday that it is committing nearly $1.5 million toward a flood mitigation project in East Kootenay. The $1.47 million in funding will go toward a flood mitigation project near Fairmont Hot Springs that…
Fort McMurray wildfire to cost The Co-operators an estimated $70 million to $90 million
May 24, 2016 by Canadian UnderwriterThe Co-operators General Insurance Company has estimated that the Fort McMurray wildfire will cost it between $70 million and $90 million. While access to the affected area remains restricted, The Co-operators’ preliminary estimate indicated that the after-tax cost of the…
National Energy Board recommends conditional approval of the Trans Mountain Expansion Project
May 20, 2016 by Canadian UnderwriterCanada’s National Energy Board (NEB) has issued a 533-page report recommending the approval of the Trans Mountain Expansion Project (Project), subject to 157 conditions. The recommendation from the NEB, an independent federal regulator of pipelines, energy development and trade, follows a…
Earthquakes triggered by oil and gas activity have been happening in Texas since at least 1925, new study says
May 20, 2016 by Canadian UnderwriterEarthquakes triggered by oil and gas activity have been happening in Texas since at least 1925, and they have been widespread throughout the state ever since, according to a new historical review published online. A Historical Review of Induced Earthquakes…
Gaps identified in readiness of Canadian boards to crisis management
May 20, 2016 by Canadian UnderwriterMore diligence is required to protect board members in the wake of a crisis, suggests a new white paper prepared by Osler, Hoskin & Harcourt LLP for the Institute of Corporate Directors (ICD). Based on a survey of 400 Canadian…
B.C. premier says climate change is sparking need for national forest fire plan
May 19, 2016 Bruce Cheadle - THE CANADIAN PRESSOTTAWA – Climate change is leading to more wildfires and the country needs a national forest firefighting strategy, says B.C. Premier Christy Clark. While the country has been transfixed by the raging fires around Fort McMurray in northern Alberta, British…
People could be allowed back to fire ravaged Fort McMurray as early as June 1
May 18, 2016 By Chris Purdy - THE CANADIAN PRESSEDMONTON – The Alberta government says people from the fire-ravaged city of Fort McMurray could start going home starting June 1 if conditions are safe, but warned there will only be basic services and a partially open hospital. “Remember, many…