Canadian Underwriter

Topic
Catastrophes


News CatastrophesInsuranceMergers and Aqcuisitions

Ohio geologists link seismic activity to hydraulic fracturing, issue new permit conditions

April 11, 2014 Julie Carr Smyth, THE ASSOCIATED PRESS

COLUMBUS, Ohio – State geologists in Ohio believe they have for the first time linked earthquake activity in the Utica shale to hydraulic fracturing, and the state says it is issuing new permit conditions in seismic-sensitive areas. State Oil &

News CatastrophesInsuranceMergers and Aqcuisitions

6.1 magnitude earthquake rattles Nicaragua; dozens of homes damaged

April 11, 2014 THE ASSOCIATED PRESS

MANAGUA, Nicaragua – A strong earthquake damaged dozens of houses in western Nicaragua on Thursday, and authorities said that at least 23 people were injured by falling ceilings, beams and walls in one town. The 6.1-magnitude quake caused panicked Nicaraguans

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

New independent catastrophic loss index provider launches in Canada

April 9, 2014 by Canadian Underwriter

A new independent catastrophic loss index provider has launched in Canada, aiming to provide detailed analytical and meteorological information on Canadian natural and man-made catastrophes to the insurance and reinsurance industries. Catastrophe Indices and Quantification Inc. (CatIQ) has an online

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Global catastrophes cause $7 billion in insured losses during first quarter

April 9, 2014 by Canadian Underwriter

Natural catastrophes globally caused roughly $7 billion in insured losses during the first quarter of the year, and $20 billion in economic losses, according to the latest recap report from Aon Benfield’s catastrophe model development arm Impact Forecasting. Severe winter

News CatastrophesInsuranceMergers and Aqcuisitions

Chile says services being restored after quake, but many still suffer outages, scarcity

April 4, 2014 Luis Hidalgo and Luis Andres Henao, THE ASSOCIATED PRESS

IQUIQUE, Chile –  Chilean officials said Friday that water, fuel, electricity and other essential services are being re-established three days after a powerful magnitude-8.2 earthquake and hundreds of aftershocks that have rattled the country’s far northern regions. But pockets of

News CatastrophesClimate ChangeInsuranceMarkets / Coverages

Reinsurers showed ‘strong underwriting profitability’ in 2013: A.M. Best

April 4, 2014 by Canadian Underwriter

Ratings firm A.M. Best Company released Friday a special report on global reinsurance, reporting an improvement in loss ratios in both the Lloyd’s and United States and Bermuda markets and “relatively healthy” investment income in the sector. “An A.M. Best

News CatastrophesInsuranceMergers and Aqcuisitions

Chile quakes cause huge evacuations, leave damaged homes, high prices and long lines

April 3, 2014 Luis Hidalgo and Luis Andres Henao, THE ASSOCIATED PRESS

IQUIQUE, Chile – Coastal residents of Chile’s far north spent a second sleepless night outside their homes as major aftershocks continued Thursday following a magnitude-8.2 earthquake that damaged several thousand homes and caused six deaths. No new major damage or

News CatastrophesInsuranceMergers and Aqcuisitions

Payouts for New Zealand’s Canterbury earthquake more than $11 billion to date

April 2, 2014 by Canadian Underwriter

The payouts by insurance companies in New Zealand in the wake of the 2011 Canterbury earthquake crossed the $11 billion mark as of the end of February. Insurance companies have paid out $11.103 billion in commercial and residential Canterbury earthquake

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

ICLR talk to discuss forest fire risk management

April 2, 2014 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction will be holding a workshop focused on forest fires from a risk management perspective. The April 11 event, part of ICLR’s ongoing Friday Forum series, will host David Martell a professor in the Faculty

News CatastrophesInsuranceMergers and Aqcuisitions

Magnitude 8.2 quake kills only 6 in Chile; seismologists say bigger quake likely someday

April 2, 2014 Luis Andres Henao, THE ASSOCIATED PRESS

SANTIAGO, Chile – Authorities lifted tsunami warnings for Chile’s long coastline early Wednesday after a magnitude-8.2 earthquake struck the South American nation’s northern coast. Six people were crushed to death or suffered fatal heart attacks, a remarkably low toll for

News CatastrophesClimate ChangeInsurance

Focus northern emergency response on people who live there, not tourists: report

March 31, 2014 Bob Weber, THE CANADIAN PRESS

A study done across the North is suggesting that emergency planners in the Arctic should start thinking about the people who live there and stop talking about tourists on cruise ships. “Everyone’s focused on what happens when the cruise ship

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Deadly Washington state mudslide highlights lack of national landslide tracking, maps

March 31, 2014 Phuong Le and Gosia Wozniacka, THE ASSOCIATED PRESS

SEATTLE – People living in the path of a deadly Washington state landslide had virtually no warning before a wall of mud, trees and other debris thundered down the mountain. Some of the homeowners didn’t even know the hillside could