Topic
Catastrophes
Operator of California coastal oil pipeline says it could take months to find cause of spill
May 22, 2015 Brian Melley - THE ASSOCIATED PRESSGOLETA, Calif. – The operator of a broken oil pipeline that fouled a California shoreline says it could be weeks or even months before investigators are able to determine what caused the break and subsequent spill. Crews have yet to…
B.C. fire crews battling five new wildfires
May 22, 2015 by Canadian UnderwriterThe Wildfire Management Branch (WMB) of British Columbia’s Ministry of Forests, Lands and Natural Resource Operations reported on Thursday that it is responding to five new wildfires in the Prince George Fire Centre. The blazes come at a time when…
Four events accounted for majority of estimated cat losses in April: Allstate
May 21, 2015 by Canadian UnderwriterFour wind/hail weather events accounted for more than 90% of Allstate Corporation’s estimated catastrophe losses for April, the insurer reported on Thursday. The Northbrook, Ill.-based company reported that the estimated catastrophe losses for the month of April were US$273 million,…
New study assesses flood preparedness in 15 Canadian cities
May 21, 2015 by Canadian UnderwriterOttawa leads the pack of 15 Canadian cities in flood preparedness, according to a new study commissioned by The Co-operators. The study, released on Thursday, was written by Dr. Blair Feltmate, an associate professor in the Faculty of Environment at…
12 capital cities facing “extreme” terrorism risks; potential to threaten business and supply chain continuity: Verisk Maplecroft
May 21, 2015 by Canadian UnderwriterAn assessment of 1,300 of the world’s most important commercial hubs and urban centres indicates terrorist attacks pose an “extreme risk” to populations and business in the capital cities of 12 countries, with Baghdad being the world’s highest risk urban…
Institute for Catastrophic Loss Reduction to host forum on building public confidence in emergency management
May 21, 2015 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) in Toronto will be hosting a forum next month on building public confidence in emergency management. The ICLR workshop, entitled Building Public Confidence in Emergency Management, will be held from 10 a.m. to…
Deglobalization, super nat-cats among emerging risks with highest potential impact: Swiss Re report
May 20, 2015 by Canadian UnderwriterNew economic, technological, socio-political and environmental developments, as well as the growing interdependencies among them, are expected to be the key drivers of a changing risk landscape that the global reinsurance industry will face over the next few years, notes…
Washington Governor declares statewide drought
May 19, 2015 by Canadian UnderwriterWashington Gov. Jay Inslee declared a statewide drought on Friday, following snowpack at historic lows, dwindling rivers and irrigation districts cutting off water to farmers. “We’re really starting to feel the pain from this snowpack drought,” Inslee said in a…
Winds uncooperative as hundreds of firefighters battle raging B.C. wildfire
May 19, 2015 THE CANADIAN PRESSPRINCE GEORGE, B.C. – An unexpected spike in wind has spoiled the prospect of better firefighting conditions in British Columbia’s Central Interior, where crews are struggling to make headway against the first major blaze of this year’s fire season. B.C.’s…
Aon Benfield flood model covers 98% of the Canadian population with resolution up to 10 metres
May 19, 2015 by Canadian UnderwriterImpact Forecasting LLC announced Monday a flood model, for companies insuring properties in Canada, which the firm says has a “combined hazard resolution of 10 metres for the most exposed areas.” Impact Forecasting, a unit of London-based Aon plc’s Aon…
Severe winter weather likely to push Q1 GDP down: CSIO speaker
May 15, 2015 Greg Meckbach, Associate EditorSevere winter weather likely resulted in a dip in gross domestic product in the first quarter in both Canada and the United States, the Bank of Montreal’s chief economist suggested Thursday to insurance professionals in Toronto. Douglas Porter, chief economist…
British Columbia announces Climate Leadership Team
May 15, 2015 by Canadian UnderwriterBritish Columbia Premier Christy Clark has announced the province’s Climate Leadership Team, which will provide advice and recommendations on actions to achieve greenhouse gas (GHG) reductions required across the industrial and transportation sectors and the built environment. The B.C. Office…