Topic
Catastrophes
Construction waste landslide buries buildings in Shenzhen, China; 85 people missing
December 21, 2015 Paul Traynor - THE ASSOCIATED PRESSSHENZHEN, China – Rescuers searched Monday for 85 missing people a day after the collapse of a mountain of excavated soil and construction waste that had been piled up over two years in China’s manufacturing centre of Shenzhen. Authorities said…
Ontario providing $131 million in financial assistance from 2013 ice storm
December 21, 2015 by Canadian UnderwriterThe Ontario government has “offered final payments,” including $56.3 million to the City of Toronto, arising from an ice storm two years ago that left about 300,000 Toronto Hydro customers without power. “Ontario has now offered final payments to all…
Preliminary forecast for 2016 Atlantic hurricane season issued
December 18, 2015 by Canadian UnderwriterTropical Storm Risk (TSR), part of Aon Benfield Research’s academic and industry collaboration, is forecasting 13 named storms, five hurricanes and two major (Category 3+) hurricanes between the months of June and November in 2016. TSR’s Professor Mark Saunders and…
Economic losses from global catastrophes estimated at US$85 billion in 2015, but only US$32 billion in insured losses: Swiss Re
December 18, 2015 by Canadian UnderwriterPreliminary sigma estimates indicate total global economic losses from natural catastrophes and man-made disasters will total approximately US$85 billion in 2015, but just US$32 billion in insured losses, Swiss Re reported on Friday. Insured losses from natural catastrophes were lower…
2016 expected to be among the warmest years, new annual global temperature forecast suggests
December 17, 2015 by Canadian UnderwriterThe global mean temperature for 2016 is expected to be between 0.72 degrees Celsius (°C) and 0.96°C above the long-term (1961-1990) average of 14.0°C, with a central estimate of 0.84°C, according to Met Office, a weather and climate services provider…
Another flood at Halifax hospital cancels eye surgeries, postpones others
December 16, 2015 by Canadian UnderwriterHALIFAX – Eye surgeries at the QEII Health Sciences Centre in Halifax were cancelled Monday because of a flood. Everton McLean, a spokesman with the Nova Scotia Health Authority, says the flooding was reported on the third floor of the…
National Research Council studying pipe sizing for fire mains, spacing between hydrants
December 15, 2015 by Canadian UnderwriterThe National Research Council is looking for input from insurance organizations and other stakeholders on calculating fire flow requirements and pipe sizing for fire mains. The City of Ottawa contracted NRC to examine current practices of sizing water mains for…
Winter storm closes schools in parts of New Brunswick, Nova Scotia and P.E.I.
December 15, 2015 The Canadian PressHALIFAX – A storm bringing a messy mix of snow, rain and high winds closed schools in parts of the Maritimes and affected marine travel in the region. Environment Canada said up to 25 centimetres of snow was expected Tuesday…
Q3 cat bond issuances include earthquake coverage with ‘cat-in-a-box’ trigger
December 15, 2015 by Canadian UnderwriterTotal catastrophe bond issuance was US$21.709 billion as of Sept. 30, and while one issuance in the third quarter provides earthquake coverage in British Columbia, more than 70% of outstanding bonds are exposed to U.S. tropical cyclones and earthquakes, Guy…
Canada’s environment minister hails Paris Agreement on climate change
December 15, 2015 by Canadian UnderwriterCanada’s Minister of Environment and Climate Change, Catherine McKenna, has hailed the Paris Agreement on climate change that was adopted by 195 countries on Saturday at the Conference of Parties (COP21). “Collectively, the countries of the world agreed to strengthen…
Government of Alberta adopts 2013 flood recommendations
December 15, 2015 by Canadian UnderwriterThe government of Alberta said on Friday that it has accepted 15 recommendations and one in principle in relation to an independent review of the province’s response to the 2013 floods, the most widespread and costliest disaster in Alberta’s history.…
Thousands evacuated as powerful typhoon slams into eastern Philippines
December 14, 2015 THE ASSOCIATED PRESSMANILA, Philippines – Thousands of residents evacuated as Typhoon Melor slammed into the eastern Philippines, where flood- and landslide-prone communities are bracing for destructive winds, heavy rains and coastal floods of up to 4 metres, officials said Monday. Classes and…