Topic
Catastrophes
Higher property values in nat cat-prone areas in U.S. hike opportunity for mega-cat losses: paper
April 14, 2015 by Canadian UnderwriterInsurers in the United States should monitor their exposure concentrations with additional risk metrics in light of rising property values in natural catastrophe-prone areas that can increase the opportunity for mega-cat losses, argues a new paper from Karen Clark &…
Ontario adopts cap and trade system to reduce greenhouse gases
April 13, 2015 Allison Jones - THE CANADIAN PRESSTORONTO – Ontario will adopt a cap-and-trade system to reduce greenhouse gas emissions, signing a deal with Quebec, but Premier Kathleen Wynne offered scant details Monday on pricing and the effects on hydro bills and gas prices. The announcement comes…
U.S. consumer advocate calls for devastation prevention measures in tornado zones
April 13, 2015 by Canadian UnderwriterFollowing the deadly events in Illinois last week, the Federal Alliance for Safe Homes (FLASH) has reiterated the need to be better prepared by changing the construction philosophy in tornado zones. The non-profit group has called for adopting devastation prevention…
Ship that spilled bunker fuel into Vancouver’s English Bay was on first voyage
April 10, 2015 by Canadian UnderwriterVANCOUVER – The bulk carrier ship that has been confirmed as the source of an estimated 2,700 litre bunker fuel spill into Vancouver’s English Bay was on its maiden voyage. The source and the kind of fuel that was spilled…
U.S. researchers predict below-average 2015 Atlantic hurricane season
April 10, 2015 by Canadian UnderwriterResearchers from the Colorado State University (CSU) are predicting a “well below-average” hurricane season for the Atlantic basin in 2015, citing the likely development of a moderate to strong El Niño event as well as anomalous cooling of the tropical…
1 dead after tornado hits tiny Illinois town, destroying homes as storms hit in several states
April 10, 2015 Sara Burnett and Herbert G. McCann - THE ASSOCIATED PRESSFAIRDALE, Ill. – A tornado hit the tiny northern Illinois town of Fairdale, killing one person, injuring seven and sweeping homes off their foundations as large storm system swept across a large swath of the country. The vast storm system…
Crews work to contain fuel spill in Vancouver’s English Bay
April 9, 2015 Cara McKenna - THE CANADIAN PRESSVANCOUVER – An oily purple-blue sheen of fuel believed to be leaking from a bulk carrier ship has coated water and land in Vancouver’s picturesque English Bay. The City of Vancouver said the spill was of bunker fuel and warned…
Japanese reactor radiation detected off B.C. coast but it’s not dangerous: expert
April 9, 2015 Dirk Meissner - THE CANADIAN PRESSVICTORIA – Radiation from the leaking Fukushima Daiichi nuclear reactor has been detected on the shores of Vancouver Island, four years after a deadly earthquake and tsunami in Japan killed 16,000 people. University of Victoria chemical oceanographer Jay Cullen said…
U.S. Federal Aviation Administration approves USAA’s drone petition
April 9, 2015 by Canadian UnderwriterThe United Services Automobile Association (USAA) announced this week that the Federal Aviation Administration (FAA) has approved the USAA’s petition to conduct research and development on its new unmanned aircraft system program to better serve its members, especially after catastrophes.…
March windstorms caused billion-dollar damage across Europe: Impact Forecasting study
April 8, 2015 by Canadian UnderwriterTotal economic and insured losses from windstorms Mike and Niklas that swept through western and central Europe at the end of March are each expected to exceed $US1 billion, according to Impact Forecasting’s latest Global Catastrophe Recap report for the…
Recent U.S. winter storms cost preliminary insured losses of US$2.3 billion: Munich Re
April 8, 2015 by Canadian UnderwriterThe cold and snowy winter of 2014/2015 in the United States caused preliminary direct economic losses of US$3.2 billion and industry-wide insured losses of US$2.3 billion, compared with US$4.4 billion direct economic losses and US$2.5 billion insured losses for the…
Water board: Californians saved less water in February than any other month with drought data
April 7, 2015 Fenit Nirappil - THE ASSOCIATED PRESSSACRAMENTO, Calif. – California’s water board said Tuesday that February was the worst month for conservation since officials began tracking savings efforts nine months ago in response to the state’s historic drought. Figures reported by local water departments showed statewide…