Topic
Catastrophes
Houston, Texas airport has second wettest day on record: RMS
April 21, 2016 by Canadian UnderwriterWeather events this week in Texas may be producing “one of the most severe flood events” in history, in Houston, not caused by a tropical cyclone Risk Management Solutions Inc. stated Thursday. The Associated Press reported that the Houston area…
$25B in outstanding cat bonds as of March 31: Aon Benfield
April 21, 2016 by Canadian UnderwriterOverall investor demand remains high in the insurance-linked securities market, with US$2.215 billion in new issuance of catastrophe bonds – one of which covers Canadian earthquake risk – in the first three months of 2016, Aon plc reported Wednesday. Chicago-based…
2,000 evacuated, 13 killed after explosion at Mexican vinyl chloride plant
April 21, 2016 Peter Orsi And E. Eduardo Castillo - THE ASSOCIATED PRESSMEXICO CITY – An explosion killed 13 people and injured scores at a petrochemical plant on Mexico’s southern Gulf coast. The blast and ensuing fire caused evacuations in the area as a fire billowed a toxin-filled cloud into the air.…
March storm in Ontario tops $25 million in insured damage: CatIQ estimate
April 20, 2016 by Canadian UnderwriterThe cost of insured damage caused by the ice storm that swept through southern Ontario between March 23 and 26 is estimated at more than $25 million, according to preliminary estimates provided by Catastrophe Indices and Quantification Inc. (CatIQ). CatIQ…
45 new wildfires burn in northeast British Columbia over two-day period
April 20, 2016 by Canadian UnderwriterThe BC Wildfire Service has responded to 45 new wildfires in northeast British Columbia over a two-day period, the Ministry of Forests, Lands and Natural Resource Operations said on Tuesday. The ministry said in a statement on Tuesday evening that…
Global temperature records piling up: NOAA
April 20, 2016 by Canadian UnderwriterFor the 11th straight month, the globe was record warm, as March set another heat record, the National Oceanic and Atmospheric Administration (NOAA) said on Tuesday. As the Earth continues to warm and is influenced by phenomena such as El…
2 firefighters hurt in brush fire east of Edmonton; in stable condition
April 19, 2016 The Canadian PressTwo firefighters are in hospital after being hurt while fighting a brush fire northeast of Edmonton. The men were hurt in two separate areas of a brush fire in Lamont County. County communications co-ordinator Heather Atkinson says the firefighters are…
B.C. provides $4 million for shoreline flood mitigation projects in Abbotsford
April 19, 2016 by Canadian UnderwriterBritish Columbia’s Ministry of Transportation and Infrastructure has announced $4 million in funding for shoreline flood mitigation projects in Abbotsford that, if left unrepaired, could undermine the dike protecting the Matsqui Prairie and important regional infrastructure. Announced as part of…
Recent quakes a reminder of the importance of insurance options in U.S.: III
April 19, 2016 by Canadian UnderwriterMany states in the United States face risks from earthquakes, yet only about 10% of surveyed homeowners on the West Coast have purchased related coverage, reports the Insurance Information Institute (III). Recent earthquakes in Ecuador and Japan serve as a…
Major commercial buildings, seaside hotels in Ecuador likely of concern to insurance industry following earthquake: RMS
April 19, 2016 by Canadian UnderwriterThe major commercial buildings and the many seaside hotels in Ecuador are likely to be of concern to the insurance industry following the recent magnitude-7.8 earthquake in the northwestern part of the country, according to the chief research officer at…
Record rainfall in Texas prompts extensive flash flooding
April 19, 2016 by Canadian UnderwriterRecord rainfall prompted extensive flash flooding across parts of Texas on Monday, closing schools and city offices and overtopping levees, Impact Forecasting said in an Aon Cat Alert. Impact Forecasting, Aon Benfield’s catastrophe model development team, said in the alert…
B.C. has seen 59 wildfires since April 1, forestry ministry says
April 18, 2016 by Canadian UnderwriterBC Wildfire Service crews have responded to 59 wildfires since April 1, including 12 in the Prince George Fire Centre, the British Columbia Ministry of Forests, Lands and Natural Resource Operations said on Friday. Almost all of the wildfires were…