Topic
Catastrophes
Federal government calls for National Disaster Mitigation Program proposals
April 21, 2015 by Canadian UnderwriterCanada’s Minister of Public Safety and Emergency Preparedness, Steven Blaney, has launched the first call for proposals for the National Disaster Mitigation Program (NDMP). In the federal government’s Economic Action Plan 2014, it committed to providing $200 million in funding…
Institute for Catastrophic Loss Reduction to host forum on wildfire affected communities in Alberta and B.C.
April 21, 2015 by Canadian UnderwriterThe Toronto-based Institute for Catastrophic Loss Reduction (ICLR) will host a forum next month on the status of the recovering wildfire affected communities of Slave Lake, Alta. and Kelowna, B.C. The risk reduction status of the recovering wildfire impacted communities…
New Brunswick village lifts evacuation order as immediate flood risk diminishes
April 20, 2015 by Canadian UnderwriterPERTH-ANDOVER, N.B. – A western New Brunswick village has removed a mandatory evacuation order as officials say any immediate risk of flooding from an ice jam appears to have passed. The community of Perth-Andover declared a state of emergency on…
New applied research network looks to advance flood resiliency in Canada
April 20, 2015 by Canadian UnderwriterThe Co-operators and Farm Mutual Reinsurance Plan have announced the creation of the Partners for Action (P4A) Network at the University of Waterloo’s (UoW) Faculty of Environment, which will work to advance flood resiliency in Canada in the face of…
Flood model focuses on most dangerous risks: Guy Carpenter
April 20, 2015 Jason Contant, Online EditorBy focusing on riverine flooding in its newly launched G-CAT Canada Flood Model, Guy Carpenter & Company, LLC felt that “it captures the majority of the hazard,” said company research hydrologist Joseph Becker at the flood model launch in Toronto…
Germany could account for 75% of as much as 1.5 billion euros in insured losses from Windstorm Niklas: RMS
April 20, 2015 by Canadian UnderwriterCatastrophe risk management firm RMS has issued an insured loss estimate from Windstorm Niklas ranging from 750 million euros to 1.4 billion euros, with Germany looking as though it will absorb the lion’s share of the hit. The loss estimate…
Guy Carpenter’s newly launched Public Sector Specialty Practice staffed by global team
April 20, 2015 by Canadian UnderwriterGlobal risk and reinsurance specialist Guy Carpenter & Company, LLC launched a specialty practice Monday focused exclusively on providing private sector solutions to relieve the cost of catastrophes on government entities. Approximately 73% – or US$2.7 trillion – of natural…
Guy Carpenter launches flood model for Canadian insurance market
April 17, 2015 Jason Contant, Online EditorGuy Carpenter, a global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Companies, has launched its new G-CAT Canada Flood Model, what it calls the “first-ever probabilistic flood model for Canada” that will allow insurers…
Goal to raise awareness of growing climate and weather-related risks: U.S. academy
April 16, 2015 by Canadian UnderwriterLooking to mark Earth Day Apr. 22, the American Academy of Actuaries has announced it will use social media messages to help bring attention to the risk of severe extreme weather/climate-related events and their incidence. “Our aim is to evaluate…
Catastrophe bond issuance reaches record Q1 level: Aon Benfield Securities
April 15, 2015 by Canadian UnderwriterAon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, said in a report released on Wednesday that catastrophe bond issuance for Q1 reached a record of $US1.7 billion, higher than any other Q1…
Farmers hard hit by harsh winter in Nova Scotia, federation hoping for help
April 14, 2015 Leah Collins Lipsett - THE CANADIAN PRESSHALIFAX – As the snow begins to recede in Nova Scotia, all that remains of Bob Parker’s main greenhouse is a crumpled pile of aluminum and plastic. “It basically looks like a bomb hit it,” he said Tuesday from his…
More extreme rainfall events expected, climate change summit hears
April 14, 2015 by Canadian UnderwriterPaul Kovacs, executive director of the Toronto-based Institute for Catastrophic Loss Reduction, discussed the state of science with respect to the impacts of climate change on communities in Canada, at the Climate Change Summit in Quebec City on Tuesday. Kovacs…