Topic
Catastrophes
Florida governor declares state of emergency in preparation for Tropical Storm Erika
August 28, 2015 by Canadian UnderwriterFlorida Governor Rick Scott has declared a state of emergency in preparation for the arrival of Tropical Storm Erika. The tropical storm recently spread heavy rains and gusty winds into the Dominican Republic, according to the United States’ National Hurricane…
Intact must defend construction company over lawsuit arising from fire: Court
August 28, 2015 by Canadian UnderwriterIntact Insurance Company has a duty to defend a construction firm sued for negligence, over a restaurant damaged by fire eight years after the policy was in effect, an Alberta court recently ruled. Court records indicate that ING Western Union…
Expected heavy rainfall in Vancouver increases risk of flash flooding, Environment Canada warns
August 28, 2015 by Canadian UnderwriterEnvironment Canada has issued a special weather statement for the Metro Vancouver area, warning that heavy rainfall in the region over several days increases the risk of flash flooding. Environment Canada said in the statement on Friday that a “major…
British Columbia announces new Emergency Management Planning Guide
August 27, 2015 by Canadian UnderwriterBritish Columbia announced on Thursday a new Emergency Management Planning Guide to help schools, districts and other authorities deal with natural disasters, human-caused events and technological and biological hazards. The guide maps out standards to support public, independent and First…
Quebec 12-storey mass timber building guide criticized over fire safety concern
August 27, 2015 by Canadian UnderwriterTen days after the Quebec government announced a technical guide on building mass timber buildings up to 12 storeys in height, an institute representing the precast prestressed concrete industry suggested there will be a cost of protecting such buildings from…
Fracking company that caused recent quake in B.C. linked to temblor in 2014
August 27, 2015 Tamsyn Burgmann - THE CANADIAN PRESSVANCOUVER – A natural gas operation that halted work after a 4.6-magnitude earthquake in northeastern British Columbia last week has been linked to the largest earthquake in the province that’s been attributed to fracking. Progress Energy, which is owned by…
Tampa/St. Petersburg most vulnerable to storm surge flooding damage, with loss potential of US$175 billion: Karen Clark
August 27, 2015 by Canadian UnderwriterThe largest losses from storm surge along the Gulf and East coastal locations in the United States are concentrated in relatively few places, but flooding from a 100-year hurricane could spur losses exceeding US$100 billion in three cities, notes a…
Drought plagued California communities ready for nature’s next challenge: El Nino
August 26, 2015 Amy Taxin - THE ASSOCIATED PRESSSANTA ANA, Calif. – While drought-plagued California is eager for rain, the forecast of a potentially Godzilla-like El Nino event has communities clearing out debris basins, urging residents to stock up on emergency supplies and even talking about how a…
Alberta Health Services issues air quality advisory for Edmonton, days after similar advisories due to wildfire smoke
August 26, 2015 by Canadian UnderwriterAlberta Health Services (AHS) has issued an air quality advisory for the Edmonton area, in full, due to smoke from wildfires in Washington state. The advisory comes two days after the AHS issued similar advisories for the province’s south (Lethbridge,…
More than 13,000 homes with a combined reconstruction cost of over US$3 billion at risk from Washington wildfire: CoreLogic
August 26, 2015 by Canadian UnderwriterMore than 13,000 homes with a combined reconstruction cost of over US$3 billion are at some level of risk from the Chelan wildfire in the state of Washington, CoreLogic, Inc. said on Wednesday. The global property information, analytics and data-enabled…
Early-August storm in Alberta causes insured damage of upwards of $100 million
August 26, 2015 by Canadian UnderwriterInsured damage caused by heavy rain, strong winds and a hailstorm that hit southern Alberta August 4 and 5 has been estimated to have $100 million-plus in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Property Claim…
Global reinsurers’ soft market pricing pressures slowing: Fitch Ratings
August 25, 2015 by Canadian UnderwriterThe reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, said Fitch Ratings in a new global sector report. Pricing in the reinsurance market has…