Topic
Catastrophes
Underinsured furniture vendor loses lawsuit against landlord arising from water damage
March 3, 2016 by Canadian UnderwriterThe Court of Appeal for Ontario recently ruled against a furniture and lighting fixture dealer, whose premises were flooded, based in part on a trilogy of Supreme Court of Canada rulings from the 1970s involving agreements to insure between landlords…
Alberta government provides grants to support fire and emergency preparedness training
March 3, 2016 by Canadian UnderwriterThe Government of Alberta announced on Wednesday that it will provide $650,000 to 50 municipalities and four First Nations to support fire and emergency preparedness training. The Fire Services Emergency Preparedness Program provides grant funding to municipalities and First Nations…
British Columbia proposes amendments to spill preparedness and response legislation
March 1, 2016 by Canadian UnderwriterBritish Columbia’s Ministry of Environment announced on Monday amendments to the Environmental Management Act (EMA), which, if passed, will establish a “world-leading” spill preparedness and response regime to address environmental emergencies in the province. The proposed spills regime will ensure…
JLT Group’s underlying profit down 7% to 170.1 million in 2015
March 1, 2016 by Canadian UnderwriterPlanned investment in its United States business contributed to Jardine Lloyd Thompson Group plc’s underlying profit before tax falling 7% to £170.1 million in 2015, preliminary results show, but the company reports its overall momentum was sustained despite the challenging…
B.C. invests in earthquake early warning systems
March 1, 2016 by Canadian UnderwriterThe province of British Columbia has provided a $5 million investment to Ocean Networks Canada to increase the development and use of earthquake early warning systems in the province. The one-time project funding could enhance the safety of British Columbians…
Normal weather conditions, slow melt will mean low flood risk in Manitoba
February 29, 2016 Chinta Puxley - THE CANADIAN PRESSWINNIPEG – Manitoba says most of the province is at a relatively low risk for serious flooding this year but officials say that could change with heavy precipitation or a quick spring melt. Flood forecaster Fisaha Unduche with Manitoba Infrastructure…
Companies must adopt fuller view of risk, understand the expected can combine to produce surprises: Marsh
February 29, 2016 by Canadian UnderwriterBoards and executive teams must develop a much stronger context for risks that may seem to be safely over the horizon if they are to avoid being blindsided by unwelcome surprises, notes a new paper from Marsh & McLennan Companies’…
Weather Service: Virginia tornado had winds of up to 165 mph
February 26, 2016 Larry O'Dell and Steve Szkotak - THE ASSOCIATED PRESSWAVERLY, Va. – Tornadoes tore through towns as far north as Pennsylvania, heavy snow cancelled hundreds of flights in the Midwest and power outages left tens of thousands of residents from the Carolinas to New England in the dark as…
Highest crop insurance coverage in program history offered to Saskatchewan producers in 2016
February 26, 2016 by Canadian UnderwriterCrop producers in Saskatchewan will have access to the highest coverage in program history, the federal Agriculture and Agri-Food Minister Lawrence MacAulay and Saskatchewan Agriculture Minister Lyle Stewart said on Thursday. The ministers announced the details of the 2016 Crop…
Province of Alberta announces $25 million in grants to local governments for flood mitigation projects
February 26, 2016 by Canadian UnderwriterThe province of Alberta has announced nearly $25 million in grants to local governments for several flood mitigation projects that will “protect families, businesses and Alberta’s economy from the threat of natural disasters.” The grants, announced in Calgary on Friday,…
Ontario Liberals promise cap and trade proceeds will go to greenhouse gas emission reduction
February 26, 2016 Greg Meckbach, Associate EditorInsurance rates have increased due to climate change, and the money the Ontario government will raise from an emissions allowance auction will be spent on efforts to reduce greenhouse gas emission, Finance Minister Charles Sousa suggested Thursday. In its budget…
Report on natural disasters linked to climate change affirmation of research, IBC says
February 26, 2016 by Canadian UnderwriterA recent report on the financial cost to the federal government of natural disasters, linked to climate change, is “an affirmation of our research at Insurance Bureau of Canada,” said the IBC’s vice president of federal affairs, Craig Stewart, on…