Topic
Catastrophes
$39 billion worth of private property at risk, in San Francisco, from 1-metre extreme tide and 1.68-metre rise in sea level: RMS
May 18, 2016 by Canadian UnderwriterIn a possible but unlikely scenario of sea level rise, 1,160 private properties in San Francisco with a total exposure value of $20 billion, could be at risk in 84 years if no resilience measures are put in place, according…
Canada must work to be better-prepared for natural disasters: IBC’s Forgeron
May 18, 2016 by Canadian UnderwriterCanada needs a “thoughtful, sustainable approach” to address losses associated with severe weather, including floods and fires that are expected to become a growing problem in future, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), suggested in…
ICLR launches ‘Insurers Rebuild Better Homes’ program to help reduce risk of loss and damage from natural hazards, including wildfire
May 18, 2016 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) has launched what it’s calling the first program in the world that sets out actions that insurance companies can take to strengthen the disaster preparedness of homeowners by “building back better” homes after…
Alberta reviews Fort McMurray wildfire re-entry plan as flames spread north
May 17, 2016 The Canadian PressFORT MCMURRAY, Alta. – The Alberta government is taking a second look at its plan to allow people to return home to Fort McMurray after explosions damaged some homes in the city and a raging wildfire spread north toward oilsands…
Fort McMurray wildfires could result in two weeks’ lost oil production: Conference Board
May 17, 2016 by Canadian UnderwriterThe impact of the wildfires in the Fort McMurray, Alberta area on oil production could “translate into” a $985-million loss in gross domestic product, though the rebuilding effort will result in “elevated” construction activity in the area through 2018, the…
AIR estimates Fort McMurray wildfire insured losses at between $4.4 billion and $9 billion
May 17, 2016 by Canadian UnderwriterIndustry insured losses from the Fort McMurray wildfire that began May 1 and is still being fought today is estimated at $4.4 billion to $9.0 billion, AIR Worldwide reported late Monday. The catastrophe modelling firm notes the estimate reflects insured…
Work camps north of Fort McMurray evacuated due to growing wildfire
May 16, 2016 By John Cotter and Dean Bennett - The Canadian PressFORT MCMURRAY, Alta. – A precautionary evacuation is clearing out employees at work camps north of Fort McMurray due to the threat of a quickly spreading wildfire. Non-essential personnel are leaving while others are staying to conduct work on the…
Alberta government releases Fort McMurray fire damage surveillance app
May 16, 2016 The Canadian PressEDMONTON – The Alberta government has released an app that will give Fort McMurray residents a good look at their properties. A message from Municipal Affairs Minister Danielle Larivee warns that viewing the satellite images may be traumatic, and the…
B.C. agriculture ministry develops and distributes guide on hail coverage for Okanagan tree fruit growers
May 16, 2016 by Canadian UnderwriterBritish Columbia’s Ministry of Agriculture has developed and distributed a guide to help Okanagan tree fruit growers understand hail coverage and the claims process. Although Okanagan tree fruit growers have been experiencing ideal weather conditions this spring with reports that…
Google offers look at fire damaged Fort McMurray neighbourhoods
May 14, 2016 The Canadian PressFort McMurray evacuees eager for a look at how their neighbourhoods fared during a recent forest fire have a new tool – Google. The California-based Internet giant is offering a bird’s-eye view of the city taken from satellite imagery on…
DBRS estimates Fort McMurray insurance claims at between $2 billion and $6 billion
May 13, 2016 by Canadian UnderwriterToronto-headquartered credit rating firm DBRS Limited has estimated that the total claim costs for the Fort McMurray wildfire will likely be in the range of $2 billion to $6 billion. DBRS said in a briefing on Friday that it is…
Contractors say co-ordination needed as focus turns to rebuilding Fort McMurray
May 13, 2016 Ian Bickis - THE CANADIAN PRESSCALGARY – Construction and cleanup firms are already mobilizing to help rebuild Fort McMurray, Alta., after the wildfires, a monumental effort that’s expected to take years. Ben Dutton at the Casman Group of Companies says he has crews heading up…