Topic
Catastrophes
2015 sees record number of Category 4 or 5 global tropical cyclones: Aon Benfield
November 5, 2015 by Canadian UnderwriterA record number of global tropical cyclones that have reached Category 4 or 5 intensity have developed in the Northern Hemisphere this year, according to Impact Forecasting’s Global Catastrophe Recap report for October. Impact Forecasting, Aon Benfield’s catastrophe model development…
Munich Re sees profit fall to 525 million euros in 2015 Q3 from 736 million euros in 2014 Q3
November 5, 2015 by Canadian UnderwriterMunich Re reports it is still on course for a good year despite a challenging environment that has contributed to the company posting a profit of 525 million euros for 2015 Q3 compared to 736 million euros in the same…
Richmond councillor says Vancouver Coastal Health ignoring earthquake danger
November 4, 2015 The Canadian PressRICHMOND, B.C. – A councillor in Richmond, B.C., says Vancouver Coastal Health has ignored studies about the safety of the city’s only hospital if a major earthquake occurs. Bill McNulty says studies conducted in 2005 and 2011 found Richmond Hospital…
Hannover Re posts Group net income of 786.0 million euros in 2015 Q3, up from 695.4 million euros in prior-year quarter
November 4, 2015 by Canadian UnderwriterHannover Re reports being well on track for solid year-end financial results, announcing Wednesday that Group net income was 786.0 million euros in 2015 Q3, a 13% increase over the 695.4 million euros in the prior-year quarter. The already good…
Alberta premier says climate change key to progress on Keystone pipeline
November 3, 2015 The Canadian PressEDMONTON – Alberta Premier Rachel Notley says progress on addressing climate change is the key to getting pipelines built. She made the comment a day after TransCanada Corp. asked the U.S. government to put a hold on the company’s permit…
Combined ratio down 1.9 points for Allstate as catastrophe losses drop 47.8%
November 3, 2015 by Canadian UnderwriterThe Allstate Corp. reported Monday a 4.2% increase in property-liability insurance premiums written while catastrophe losses for the third quarter were 47.8% lower this year than in 2014, while third-quarter net income dropped 17% year over year. Northbrook, Ill.-based Allstate…
Drones tested to help fight blazes in difficult B.C. wildfire season
November 3, 2015 Gemma Karstens-Smith - THE CANADIAN PRESSVANCOUVER – Drones flying above wildfires in British Columbia last summer hampered aerial efforts to control the blazes. But around the same time, the province was also using the unmanned aerial vehicles to determine if drones could be used to…
AIG reports net loss of US$231 million in 2015 Q3, down from net income of $2.2 billion in 2014 Q3
November 3, 2015 by Canadian UnderwriterAmerican International Group, Inc. has reported the company has posted a net loss of US$231 million for the third quarter of 2015 compared to net income of $2.2 billion for the same quarter of 2014. “Compared to the prior-year quarter,…
Alberta changes Disaster Recovery Program to deal with outstanding cases from 2013 flood
November 2, 2015 by Canadian UnderwriterAlberta’s Ministry of Environment and Parks announced on Monday that it is making changes to the Disaster Recovery Program (DRP) that will allow 80% of outstanding cases related to the 2013 southern Alberta flood to be resolved. With a total…
Magnitude and incidences of earthquakes caused by fracking are minimal: Fraser Institute
November 2, 2015 by Canadian UnderwriterWhile hydraulic fracturing can cause increased seismic activity, the tremors generated by the process are often very small and undetectable at the earth’s surface, according to a report released last week by the Fraser Institute, a Canadian research and educational…
CNA Financial Corporation’s P&C Operations’ combined ratio improves to 85.7% in Q3 2015 from 96.1%
November 2, 2015 by Canadian UnderwriterCNA Financial Corporation has reported Property & Casualty Operations’ combined ratio for the third quarter of 2015 was 85.7%, down from 96.1% from the third quarter of 2014. CNA announced its third quarter results on Monday, noting in a statement…
Saskatchewan Government Insurance, police to focus on safe winter driving throughout November
November 2, 2015 by Canadian UnderwriterSaskatchewan Government Insurance (SGI) and police in the province will be on the lookout for people driving too fast for road conditions throughout the month of November. “You don’t know exactly when winter’s coming and it happens very quickly when…