Topic
Catastrophes
Who Pays for Recovery?
April 1, 2016 Clay Germain, President, Insurance Brokers Association of British ColumbiaCanada can learn from the earthquake experience and loss elsewhere. Brokers in British Columbia are heartened by growing government support around prevention and recovery, but believe a shift from post-event disaster funding to securing funding sources before an event occurs will only help to further enhance resilience and reduce losses.
Severe weather moves east toward Carolinas after tornadoes
April 1, 2016 Jonathan Landrum Jr. - THE ASSOCIATED PRESSATLANTA – A severe weather system moved east toward the Carolinas on Friday after setting off tornadoes that swirled through Louisiana, Mississippi and Alabama. Tornadoes and isolated winds are possible through mid-afternoon Friday, according to the National Weather Service. Nearly…
Eight (re)insurers join forces for marine cat model
April 1, 2016 by Canadian UnderwriterSompo Canopius AG, a global specialty lines platform of Sompo Japan Nipponkoa Holdings Inc., announced on Thursday that it has partnered with catastrophe modelling marketing firm Risk Management Solutions (RMS) and six other (re)insurers for the specification and build of…
7 hurt, homes, businesses damaged after tornado in Oklahoma
March 31, 2016 The Associated PressTULSA, Okla. – At least seven people were injured after severe storms spawned multiple tornado touchdowns in northeastern Oklahoma, damaging homes and businesses, authorities said. National Weather Service meteorologist Amy Jankowski said a tornado touched down and lifted up numerous…
Federal government successfully tests drones for icebreaking operations
March 30, 2016 by Canadian UnderwriterThe Government of Canada announced on Wednesday that it has successfully tested drones to assess its potential to support icebreaking operations. The Canadian Coast Guard (CCG), Transport Canada, the National Research Council and the Royal Canadian Navy said in a…
Disasters at ports can cause ‘major accumulated losses across multiple lines of business,’ Swiss Re warns
March 30, 2016 by Canadian UnderwriterFor the second year in a row, Canada had “few natural disasters” in 2015, while the Aug. 12 explosions arising from sodium cyanide in the Chinese port of Tianjin shows that insurers need “more risk mapping in aggregation points,” Swiss…
IBC, Tesera Systems announce transfer agreement for bureau’s Municipal Risk Assessment Tool
March 30, 2016 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has announced the intellectual property rights for its municipal risk assessment tool (MRAT) – a made-in-Canada solution to help communities be more resilient and adaptable to climate change – is being transferred to Tesera Systems…
Final property market loss for windstorm Mike-Niklas estimated at 816 million euros
March 29, 2016 by Canadian UnderwriterWindstorm Mike-Niklas, which affected parts of western and central Europe from March 29 to April 1, caused an estimated property market loss of 816 million euros, PERILS AG said on Tuesday. The fourth and final loss estimate for the windstorm,…
Fracking, not water disposal, behind earthquakes: study
March 29, 2016 Bob Weber - THE CANADIAN PRESSEDMONTON – New research suggests that hydraulic fracking of oil and gas wells is behind earthquakes caused by humans in Western Canada. A study, published Tuesday by a group of top Canadian researchers, says problems in Alberta and British Columbia…
Ocean temperatures can predict U.S. heat waves up to 50 days in advance: study
March 29, 2016 by Canadian UnderwriterThe formation of a distinct pattern of sea surface temperatures in the middle of the North Pacific Ocean can predict an increased chance of summertime heat waves in the eastern half of the United States up to 50 days in…
Induced earthquakes raise chances of damaging shaking in 2016: USGS
March 29, 2016 by Canadian UnderwriterNew maps identifying potential ground-shaking hazards from both human-induced and natural earthquakes show there is potential for damaging shaking from induced seismicity for about 7 million who people live and work in areas of central and eastern United States (CEUS),…
N.B. public safety department issues warning about ice jams, associated flooding
March 28, 2016 by Canadian UnderwriterNew Brunswick’s Department of Public Safety is warning about the potential for ice jams and associated flooding along the St. John River and other river systems in the province. The Department of Public Safety said in a bulletin on Monday…