Canadian Underwriter

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Catastrophes


News CatastrophesClimate ChangeInsurance

Bipartisan gang of U.S. lawmakers push to delay big flood insurance premium increases

October 30, 2013 Andrew Taylor - THE ASSOCIATED PRESS

WASHINGTON – A bipartisan group of lawmakers Tuesday unveiled legislation that would delay for about four years several changes to the federal government’s flood insurance program that are threatening to sock thousands of people with unaffordable premium hikes. The move

News CatastrophesClimate ChangeInsurance

U.S. companies urge President Obama to move forward with climate action plan, combat severe weather’s effect on supply chains

October 30, 2013 by Canadian Underwriter

Twenty major businesses in the United States – all of which rely on the stability of global supply chains for growth and profitability – took the one-year anniversary of Superstorm Sandy as an opportunity to remind President Barack Obama and

Significant historic earthquakes in Canada (Insurance Bureau of Canada)
News CatastrophesInsurance

Study cautions that Canada not prepared for a major earthquake, both economic and insured costs would be significant

October 29, 2013 Angela Stelmakowich, Editor

There would be significant losses if modelled scenarios involving a 9.0-magnitude earthquake off the west coast of Vancouver Island and a 7.1-magnitude quake about 100 km northeast of Quebec City came to be, demonstrating the need for a national strategy

News CatastrophesInsuranceMergers and Aqcuisitions

Alberta introduces legislation to minimize future flood catastrophes

October 28, 2013 Dean Bennett - The Canadian Press

EDMONTON – Premier Alison Redford’s government opened the fall sitting of the Alberta legislature Monday by introducing a bill to mitigate damage from floods like the one that ravaged parts of southern Alberta this summer. ”We know that we will

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Almost 140 flood warnings, alerts still in effect after major Atlantic storm hits U.K.

October 28, 2013 by Canadian Underwriter

A total of 139 flood warnings or alerts remained in place Monday morning in the United Kingdom as a major Atlantic storm, bringing with it strong winds and rainfall, continued to make its way through the U.K. There were a

News CatastrophesClimate ChangeInsurance

Australian government says climate change is not causing latest wildfires after record heat

October 25, 2013 Rod McGuirk, THE ASSOCIATED PRESS

CANBERRA, Australia – The government staunchly rejected arguments that climate change is causing the wildfires ravaging parts of eastern Australia following a record hot start to the spring season. “That is complete hogwash,” Prime Minister Tony Abbott told News Corp.

News CatastrophesInsuranceLegal

Quebec rail victims could begin to see compensation in mid 2014: U.S. trustee

October 22, 2013 THE CANADIAN PRESS

MONTREAL – The U.S. bankruptcy trustee overseeing the insolvent railway involved in July’s deadly explosion in Lac-Megantic, Que., says he hopes to begin distributing “meaningful” compensation to victims in mid-2014. Robert Keach said he hopes to allocate the $25 million

News CatastrophesInsuranceMergers and Aqcuisitions

No timeline for residents to return to homes near Alberta derailment site

October 21, 2013 Bob Weber, THE CANADIAN PRESS

STONY PLAIN, Alta. – A spokesman for CN said Monday it was too early for residents of an Alberta community to be allowed to return to their homes near the site of a derailment. “We had hoped that that could

News CatastrophesInsuranceMergers and Aqcuisitions

Great BC ShakeOut earthquake drill breaks record for number of participants

October 17, 2013 by Canadian Underwriter

This year’s Great BC ShakeOut earthquake preparation drill had more than 690,000 participants, setting a new record and beating out last year by about 100,000. The annual drill took place Thursday morning at various locations across B.C., with participants including

News CatastrophesClimate ChangeInsurance

Federal government expects to invest in infrastructure, support community resilience

October 17, 2013 by Canadian Underwriter

Ottawa will invest $70 billion in federal, provincial, territorial and community infrastructure over the next decade, Governor General David Johnston said during the Speech from the Throne Wednesday. “Projects such as building subways in the Greater Toronto Area, replacing Montreal’s

News CatastrophesInsurance

Death toll in Philippines quake jumps to 93, most from Bohol epicenter

October 15, 2013 Bullit Marquez, THE ASSOCIATED PRESS

CEBU, Philippines – The death toll from a 7.2-magnitude earthquake that struck the central Philippine island of Bohol on Tuesday rose to 93, as rescuers struggled to reach patients in a collapsed hospital. Centuries-old stone churches crumbled and wide areas

News CatastrophesInsurance

Robotics examination may shed light on what happened with isolation condensers following Japan quake

October 15, 2013 Angela Stelmakowich, Editor

It is unlikely what went wrong with isolation condenser units at the nuclear reactor in Japan in 2011 will be known, if ever, until robotics can disassemble the associated valves and systems, attendees heard during the Canadian Boiler and Machinery