Topic
Catastrophes
Majority of British Columbians oppose fracking, split on liquefied natural gas development: study
March 28, 2016 by Canadian UnderwriterLess than half of British Columbians are supportive of the provincial government’s push for liquefied natural gas (LNG), and only 23% support the process of hydraulic fracturing, according to a poll released on Thursday by Insights West. Results are based…
Crews fighting Kansas wildfires get assist from snow, rain
March 28, 2016 The Associated PressKANSAS CITY, Mo. – Firefighters grappling with the biggest wildfire in Kansas history got a welcomed Easter assist from pre-dawn snowfall over the hardest-hit area, though the looming prospect of flame-fanning winds threatened to undermine the effort. The National Weather…
Brussels bombings show trend to target public transportation infrastructure: RMS
March 28, 2016 by Canadian UnderwriterThe terrorism bomb blasts last week in Brussels “are a somber reminder of the difficulty of preventing attacks against transportation infrastructure such as airports and metro or bus stations,” notes catastrophe risk modelling company Risk Management Solutions (RMS). “As security…
Province of British Columbia announces $16.6 million in funding for flood mitigation project in Richmond
March 26, 2016 by Canadian UnderwriterThe province of British Columbia has announced $16.6 million in funding toward a flood mitigation project in Richmond that will upgrade multiple pump stations. Announced as part of public safety funding in the 2016 provincial budget, the $24.95-million project also…
Combined ratio for Lloyd’s at 90% for 2015, up from 88.4% in 2014
March 24, 2016 by Canadian UnderwriterLloyd’s of London, the world’s specialist market for insurance and reinsurance, announced on Wednesday a combined ratio of 90% for 2015, up from 88.4% in 2014. Lloyd’s also reported a pre-tax profit of 2.1 billion pounds for 2015, down from…
Government of Alberta moves ahead with Springbank reservoir to help protect Calgary from flooding
March 24, 2016 by Canadian UnderwriterAlberta’s Ministry of Transportation said on Wednesday that the environmental impact assessment (EIA) required for the Springbank off-stream reservoir – part of the province’s overall flood mitigation strategy – is now underway. The EIA – which examines a variety of…
Excessive steaming a factor in CNRL’s Primrose leaks: Alberta regulator
March 22, 2016 Lauren Krugel - THE CANADIAN PRESSCALGARY – Excessive steaming was one of the factors that caused more than one million litres of oily water to ooze to the surface at an eastern Alberta oilsands site nearly three years ago, an investigation by the Alberta Energy…
2015 quiet in terms of global insured losses at US$30.5 billion, despite exceptionally strong El Nio: Guy Carpenter
March 22, 2016 by Canadian UnderwriterAlthough 2015 marked one of the strongest El Niño periods on record, it was a quiet year in terms of global insured losses, according to Guy Carpenter’s Global Catastrophe Review – 2015. The review, released on Tuesday, noted that there…
Cyber insurance growth expected to triple in a few years, rapid rise would be credit-negative: Fitch Ratings
March 22, 2016 by Canadian UnderwriterWhile cyber insurance growth is clearly on the rise – with 2015’s estimated US$3 billion in premiums possibly tripling in four years – the rapid expansion into standalone offerings brings with it concern the move could be credit-negative, suggests a…
Institute for Catastrophic Loss Reduction to host workshop on hailstorms and hail damage on April 8
March 21, 2016 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will be hosting a workshop on hailstorms and hail damage on Friday, April 8. The session, titled Understanding the Characteristics of Hailstorms and Hail Damage through Laboratory and Field Research, will only be…
Ottawa announces flood protection funding for small Ontario municipalities
March 21, 2016 by Canadian UnderwriterThe Ontario and federal governments announced Friday they will fund projects designed to reduce flood risk and help treat “environmentally harmful liquids” in small municipalities south of Sudbury. Both governments announced Friday funding for 13 projects under the Small Communities…
Widespread flooding hits southern U.S.
March 14, 2016 Emily Wagster Pettus - THE ASSOCIATED PRESSHATTIESBURG, Miss. — As the Leaf River rose north of Hattiesburg, Mississippi, 26-year-old Rebecca Bruce and her fiance grabbed what they could and left the shed where they live. The water was more than two feet deep indoors when they left,…