Topic
Catastrophes
Willis commits $1 million to multi-party forum to address nat-cat risk, information could help with closing protection gap
October 8, 2015 by Canadian UnderwriterWillis Group Holdings plc has announced a $1 million commitment from the global risk advisory and re/insurance broking firm to help mobilize a new multi-party Resilience Modelling and Mapping Forum that will focus on addressing natural catastrophe risk. The announcement,…
Protection gap remains at an estimated US$1.3 trillion: Swiss Re
October 7, 2015 by Canadian UnderwriterDisaster risks are increasing, but insurance hasn’t kept pace as the estimated US$1.3 trillion gap between insured and total losses remains stubbornly large, said a new report from Swiss Re. Launched at the World Bank/IMF annual meetings in Lima, Peru,…
UN releases a draft for potential agreement on climate to be reached in December in Paris
October 6, 2015 Sylvie Corbet - THE ASSOCIATED PRESSPARIS – The United Nations on Monday released a first draft of the negotiating text for the major conference on climate taking place in Paris in December. The document is a step forward for the talks, slimming down the text…
Insured damages from August B.C. storm estimated at over $25 million
October 6, 2015 by Canadian UnderwriterInsured damage arising from a windstorm Aug. 29 in British Columbia probably exceeded $25 million, Insurance Bureau of Canada suggested in a release Tuesday. Quoting from Toronto-based Catastrophe Indices and Quantification Inc., IBC said a preliminary estimate of insured damage…
South Carolina governor declares state of emergency after record rainfall
October 6, 2015 by Canadian UnderwriterSouth Carolina Governor Nikki Haley has declared a state of emergency for the state, as flash flood warnings were issued for Berkeley, Charleston and Dorchester in anticipation of rainfall between 10 and 15 inches. Much more rain than that already…
South Carolina flood: Swamped streets, hundreds of rescues, more door to door searches next
October 5, 2015 Seanna Adcox and Jeffrey Collins - THE ASSOCIATED PRESSCOLUMBIA, S.C. – Days of torrential rains kept much of South Carolina and its capital gripped by floodwaters early Monday as emergency workers promised renewed door-to-door searches for anyone still trapped after a weekend deluge and hundreds of rescues. At…
Institute for Catastrophic Loss Reduction stresses importance of establishing a science foundation for action at Science and Technology for Society forum in Japan
October 5, 2015 by Canadian UnderwriterDr. Gordon McBean, the Institute for Catastrophic Loss Reduction’s (ICLR) director of policy, is stressing the importance of establishing a “science foundation for action” that addresses both energy and environmental issues. Dr. McBean participated yesterday in the opening panel discussion…
Reinsurance industry should brace for more challenges: A.M. Best
October 5, 2015 by Canadian UnderwriterContinued benign loss environment and strong performance by select publicly traded reinsurers in the first half of 2015 resulted in a healthy increase in average share price, but those positives seem to be giving way to challenges afoot in the…
Insurers, other professionals need to work together to tackle climate change, says Environment Canada’s senior climatologist
October 4, 2015 Jason Contant, Online EditorRefusing to insure substandard properties and advising clients on climate change are just two of the things insurers can do to help the industry better understand the issue, Environment Canada’s senior climatologist said on Friday at the National Insurance Conference…
Oil industry touts technology investment in submission to Alberta climate panel
October 3, 2015 Lauren Krugel - THE CANADIAN PRESSCALGARY – The oil and gas industry wants investment in emissions-busting technology to play a big role in Alberta’s climate change strategy. The Canadian Association of Petroleum Producers has made its submission to the five-member panel working on a broad…
Washouts, damage to homes reported in New Brunswick after major downpour
October 2, 2015 The Canadian PressFREDRICTON, N.B. – Heavy rainfall that dumped more than 160 millimetres on parts of New Brunswick is being blamed for widespread property damage and the death of one man. The province’s Emergency Measures Organization says the downpour Wednesday and early…
Hurricane Joaquin intensifies as it tracks through Bahamas, insured losses could be limited: AIR Worldwide
October 2, 2015 by Canadian UnderwriterThe transforming Hurricane Joaquin slowly tracking through the Bahamas is reminiscent of Hurricane Irene four years ago, but the latest storm is affecting Bahamian islands where insurance up-take is low, which will help limit insured losses, suggests a statement issued…