Topic
Catastrophes
Insured losses from cyclone Niklas in Europe estimated at 1.0 billion to 1.9 euros: AIR Worldwide
April 7, 2015 by Canadian UnderwriterAIR Worldwide is estimating that insured losses from extratropical cyclone Niklas – which hit Europe in late March and early April – could range from 1.0 billion to 1.9 billion euros, with Germany expected to see the majority of losses.…
Toronto City Council calls for automatic shutoff valves on Enbridge pipeline crossing watercourses
April 6, 2015 by Canadian UnderwriterToronto City Council recently voted to ask Enbridge Pipelines Inc. to install automatic shut-off valves – on both sides of major watercourses crossed by one of the firm’s oil pipelines running through the Toronto area – and that the National…
Ontario bill providing for license suspensions for drug-impaired drivers ready for third reading
April 6, 2015 by Canadian UnderwriterThe Ontario legislature has adopted a committee report on a bill that, if passed into law, would increase the maximum fine for distracted driving to $1,000, introduce licence suspensions for drug impairment and change the branding program for vehicles written…
Alberta funds flood prevention projects
April 2, 2015 Bill Graveland - THE CANADIAN PRESSCALGARY – The Alberta government is giving cash to 16 municipalities to prevent flooding and deal with future droughts. Most of the grants will go to municipalities hit hard by the 2013 floods in southern Alberta. They include Calgary, High…
Supreme Court will not hear legal dispute over alleged environmental contamination of Prince Albert, Saskatchewan property
April 2, 2015 by Canadian UnderwriterA lawsuit over environmental contamination, alleged to have affected groundwater flowing towards the North Saskatchewan River in Prince Albert, will not be heard by the Supreme Court of Canada. A drive-in theatre operator whose real estate sale fell through after…
Record of flood events may help predict future climate change, college professor says
April 1, 2015 by Canadian UnderwriterA college professor in the United States has created a 2,200-year-long record of flood events he says may also help predict future climate change. Rhawn Denniston, a professor of geology at Cornell College, a private liberal arts college in Mount…
Marketplace
April 1, 2015 by Canadian UnderwriterCANADIAN MARKET Quebec brokerage sector a model: Study Quebec’s brokerage industry is the driving model for damage insurance, notes a new study, sponsored by BMO Bank of Montreal. The Regroupement des cabinets de courtage d’assurance du Québec commissioned Raymond Chabot…
Over and Above
April 1, 2015 Sharon Ludlow, President, Aviva Insurance Company of CanadaWhy is now the time for homeowner overland water protection? With Canada seeing more rain every year, this type of protection will only become more important in future. The country’s first such coverage for residential properties, working in concert with sewer back-up protection, seeks to meet that need.
Extreme weather events can quickly change a good year to a bad one
March 31, 2015 Angela Stelmakowich, EditorFrequent extreme weather events are a new wild card that demand acknowledgment and preparation, Gregor Robinson, senior vice president of policy and chief economist for the Insurance Bureau of Canada (IBC), suggested Tuesday during Swiss Re’s 30th Canadian Industry Outlook…
Aviva Canada partners with the Canadian Red Cross to support disaster preparedness and response
March 31, 2015 by Canadian UnderwriterAviva Canada announced on Tuesday that is has become the first insurance company to join as a national corporate partner of the Canadian Red Cross’ Ready When the Time Comes program, committing over $500,000 to the partnership over the next…
Passenger liability claims and physical damage will comprise total insurance loss from Germanwings plane crash: A.M. Best
March 30, 2015 by Canadian UnderwriterThe majority of loss arising from the Germanwings plane crash in the French Alps last week will likely be absorbed by the Lloyd’s market, as well as a number of global insurers and reinsurers, suggested a briefing from ratings firm…
$1 billion water plan heads to California governor for signature as drought lingers
March 27, 2015 Fenit Nirappil -THE ASSOCIATED PRESSSACRAMENTO, Calif. – A plan to pump $1 billion of water spending into drought-stricken California cleared the Legislature on Thursday and was sent to Gov. Jerry Brown, who is expected to sign the legislation. The legislation includes $267 million in…