Topic
Catastrophes
Alberta declares that agricultural losses from extreme weather is a ‘disaster’
August 24, 2015 The Canadian PressEDMONTON – The Alberta government has declared that the hardship to agriculture from this year’s drought constitutes a disaster. Agriculture Minister Oneil Carlier quietly approved the decision on Friday. Agriculture department spokesman Renato Gandia says in an email that it…
Losses from Tianjin port explosion still being calculated: A.M. Best
August 24, 2015 by Canadian UnderwriterVarious market sources have released insured loss estimates related to the massive explosion Aug. 12 at a toxic chemical warehouse in the Port at Tianjin, but A.M. Best Company cautions that the figures “are subject to uncertainty as residents within…
Ontario judge rules Building Code different from by-law in home insurance exclusion
August 21, 2015 by Canadian UnderwriterAn Ontario court has ruled against Allstate Insurance Company of Canada over a disputed claim arising from a fire at an Ottawa home. Mohamed Choukair claimed the cost to replace his home, after a fire in January, 2014, was $450,700.…
Alberta wildfire almost entirely contained: Parks Canada
August 21, 2015 by Canadian UnderwriterA wildfire at the Waterton Lakes National Park of Canada is now 95% contained and is “being held,” Parks Canada reported on Friday. A thermal scan of the Waterton Lake wildfire, near the Montana border, confirmed the fire is “relatively…
Irrigation important buffer to drought and climate change challenges: study
August 21, 2015 Ian Bickis - THE CANADIAN PRESSCALGARY – A new study highlights the importance of irrigation for Alberta agriculture as widespread drought is having a harsh impact on crop yields in Western Canada. The study, commissioned by the Alberta Irrigation Projects Association, found that every dollar…
Community resilience centre set up for those affected by wildfires in B.C.
August 20, 2015 by Canadian UnderwriterBritish Columbia’s Minister of State for Emergency Preparedness, Naomi Yamamoto, has announced the setting up of a community resilience centre for those affected by wildfires in Rock Creek and Oliver. Yamamoto made the announcement on Tuesday, while visited wildfire-impacted communities.…
U.S. coastal flood risk on the rise 10 years after Hurricane Katrina: RMS
August 20, 2015 by Canadian UnderwriterOne decade after Hurricane Katrina caused US$41 billion in p&c insurance losses – the most expensive catastrophe ever experienced by the global insurance industry – rising sea levels are driving up expected economic and insurance losses from hurricane-driven storm surge…
Ontario to replace Disaster Relief Assistance Program in 2016
August 20, 2015 by Canadian UnderwriterThe Ontario government plans to replace its Disaster Relief Assistance Program next year with two new programs, one of which is intended to help homeowners replace essential property lost as a result of a natural disaster and not covered by…
Institute for Catastrophic Loss Reduction to host workshop in September on lessons from Hurricane Sandy
August 19, 2015 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will be hosting a workshop next month on lessons from Hurricane Sandy. Storm Surge – Lessons from Hurricane Sandy will be held on Thursday, Sept. 3 from 10 a.m. to 11:30 a.m. EST…
Tianjin explosion insured losses could exceed US$1.5 billion, undermine financial performance of some regional players: Fitch Ratings
August 19, 2015 by Canadian UnderwriterInsurance losses associated with a series of explosions at a chemical warehouse in the Port of Tianjin Aug. 12 are likely to be material for Chinese insurance companies, Fitch Ratings reports, estimating that losses could potentially exceed from US$1 billion…
PCS report examines approach to managing U.S. personnel during peak periods of catastrophe claims
August 19, 2015 by Canadian UnderwriterMajor catastrophes frequently mean longer hours and extended periods away from home for claims staff on catastrophe duty, but approaches to managing and compensating these workers in the United States vary across geographies, company size and employee rank, according to…
“Keep the drones at home,” B.C. government urges as wildfires continue to burn
August 18, 2015 by Canadian UnderwriterBritish Columbia’s Ministry of Forests, Lands and Natural Resource Operations is reminding operators of unmanned aerial vehicles to “keep the drones at home” when firefighting personnel are battling wildfires in the province. “The presence of drones near an active wildfire…