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Catastrophes


News CatastrophesClaimsInsuranceTechnology

Cyber catastrophe bonds: Coming soon?

July 13, 2018 by Greg Meckbach

With computer security incidents causing business interruption and privacy breaches, there is a “very real possibility” that a catastrophe bond covering cyber risk might be available, the head of a cyber risk modelling vendor predicts. Catastrophe bonds are a form

News CatastrophesClaimsInsurance

Tropical Storm Chris could make landfall on Newfoundland

July 10, 2018 by Greg Meckbach

Newfoundland’s Avalon Peninsula could get wind gusts of up to 100 km/h this week as a result of Tropical Storm Chris, which is expected to be upgraded to hurricane status Tuesday. Tropical Storm Chris was in the Atlantic Ocean more

News CatastrophesClaimsClimate Change

Tropical Storm Chris tracks towards Nova Scotia

July 9, 2018 by Greg Meckbach

Storm weather arising from a hurricane could hit Nova Scotia Wednesday night, with a low but not zero probability of hurricane-force winds hitting Canada’s east coast. Tropical Storm Chris is expected to start moving northeast and reach hurricane status Tuesday,

News CatastrophesClaimsInsurance

Why this city is billed as “progressive” in reducing flood risk

July 8, 2018 by Greg Meckbach

Toronto is one of the most progressive cities in taking steps to reduce basement flood risk, Institute for Catastrophic Loss Reduction (ICLR)  director of research Dan Sandink said Thursday in an interview. And a ban on below-grade garages is Exhibit A

News CatastrophesClaimsInsuranceRestoration

How the pieces of the puzzle fit together during a catastrophe

July 5, 2018 by Jason Contant

Following a catastrophe, policyholders are best served when adjusters and contractors adhere to their professional limitations in managing a loss, an industry executive said Tuesday. Jim Eso, senior vice president of property and casualty with Crawford and Company (Canada) Inc.,

News CatastrophesClaimsLegislation / Regulation

How Canada fares on rail risk five years after Lac-Mégantic

July 5, 2018 by Greg Meckbach

There is room for improvement in managing railway risk, the Transportation Safety Board of Canada suggested in a release marking the fifth anniversary of the Lac-Mégantic, Quebec, tragedy. For years, TSB has been calling for more ways to stop trains,

News Catastrophes

Wildfire evacuees to return to Southend, Saskatchewan

June 27, 2018 THE CANADIAN PRESS

SOUTHEND , Sask.  – Residents who had to leave their remote community in northern Saskatchewan because of a wildfire are being allowed to return. The wildfire was growing last week and was 13 kilometres away when an evacuation was ordered

News CatastrophesClaimsInsuranceMarkets / Coverages

Fort McMurray airport sues insurer for $34 million in wildfire losses

June 25, 2018 by Jason Contant

The Fort McMurray Airport Authority (FMAA) is suing FM Global for more than $34 million, contending that the insurer breached its obligations under a policy in place during the Fort McMurray wildfire in May 2016. In a statement of claim

News CatastrophesClaimsClimate Change

The province said to lead Canada in physical flood defences

June 21, 2018 by Greg Meckbach

Half a century after the completion of the Red River Floodway, Manitoba still provides the best examples of overland flood defence work in Canada, the founder of a property loss think tank suggests. The Manitoba government estimates that the Red

News CatastrophesInsurance

Canada’s best province for flood risk management

June 20, 2018 by Greg Meckbach

Five years after Albertans lost billions as a result of record floods, Ontario leads the nation when it comes to keeping properties out of high-risk areas, a catastrophe loss expert contends. “Ontario has been most aggressive at trying to make

News CatastrophesClaimsMarkets / Coverages

How training plays into claims adjusting during back-to-back cats

June 19, 2018 by Jason Contant

When Canada experiences back-to-back catastrophes, it can be a challenge to pull together all the required resources in a timely fashion. Part of the puzzle is ensuring that claims adjusters and other parties are properly trained for the files they

News CatastrophesClaims

One risk to your client if the neighbouring property is abandoned

June 18, 2018 by Greg Meckbach

Lindsay Bunce got a nasty shock one colder winter day when she and her husband went down to the basement of their Toronto home. “We were surprised to find about two inches of water across our basement and water coming