Topic
Catastrophes
Report: World to see more people displaced because of disasters, urbanization
September 18, 2014 Trenton Daniel, THE ASSOCIATED PRESSNatural disasters displaced almost 22 million people around the world last year and aid workers say they expect to see that number rise in the future, according to a report issued by a Norwegian humanitarian group on Wednesday. The study,…
Mayor of Alberta town urges Ottawa to act after sixth train derailment
September 18, 2014 THE CANADIAN PRESSSLAVE LAKE, Alta. – A mayor of a town in northern Alberta says he’s concerned after another train derailment near his community – the sixth since May. Four engines and 21 rail cars of a Canadian National train left the…
Town in southern New Brunswick experiences 2.6 magnitude earthquake
September 18, 2014 THE CANADIAN PRESSSAINT ANDREWS, N.B. – Natural Resources Canada says there was an earthquake in a small southern New Brunswick town on Wednesday. The department’s website says the 2.6-magnitude earthquake happened around 10:20 a.m. local time about 19 kilometres east of Saint…
Some insurers trying to broaden D&O environmental liability coverage
September 17, 2014 Greg Meckbach, ASSOCIATE EDITORWINNIPEG — Property losses often result in pollution losses, but there are “barriers” to getting environmental/pollution coverage on primary D&O insurance policies, speakers at RIMS Canada warned this week. “‘Hazardous substance’ is a catch-all term,” said Justin Perry, vice president…
Terrorism, cyber-attacks among main emerging risks facing reinsurance sector
September 17, 2014 by Canadian UnderwriterCyber-attacks and terrorism are among the main emerging risks currently facing the reinsurance sector, according to a new report from Guy Carpenter & Company. New compensation structures for long-term bodily injuries will also present a risk to the industry, according…
Global insurance premium reached record $4.9 trillion in 2013: Aon Benfield
September 17, 2014 by Canadian UnderwriterA risk study released this week by Aon Benfield indicates that relatively light catastrophe losses in 2013 compared with the two previous years helped the property and casualty industry achieve a global underwriting profit last year. Aon Benfield’s 9th edition…
Influx of new capital continues to reshape reinsurance market: Guy Carpenter
September 16, 2014 by Canadian UnderwriterInnovations – including more types of risk directly accessing capital markets in insurance-linked securities (ILS) form – are contributing to reshaping a reinsurance market that saw the entrance of about US$20 billion of new capital over the past 24 months,…
President Obama declares Napa, California earthquake a ‘major disaster’
September 12, 2014 by Canadian UnderwriterUnited States President Barack Obama declared Thursday the Aug. 24 California earthquake — which is estimated to have caused at least $2 billion in economic losses and killed at least one — was a “major disaster,” meaning federal aid is…
Tropical Storm Odile drifts off southern Mexico, expected to become hurricane on Friday
September 11, 2014 ASSOCIATED PRESSMEXICO CITY – Tropical Storm Odile gradually picked up strength as it drifted erratically off Mexico’s southern Pacific coast Thursday, and forecasters predicted it would turn into a hurricane but also track farther out to sea than expected earlier. The…
Flood-related deaths exceed 461 in India, Pakistan
September 11, 2014 Munir Ahmed And Ashok Sharma - THE ASSOCIATED PRESSISLAMABAD, Pakistan — Pakistani troops used helicopters and boats to evacuate thousands of marooned people from the country’s plains where raging monsoon floods inundated more villages Thursday, officials said. In neighbouring India, the military dropped food for hundreds of thousands…
Sensors meant to detect ‘characteristics of an earthquake’ to be placed at Vancouver-area schools
September 11, 2014 Steven Chua - THE CANADIAN PRESSVANCOUVER — New earthquake detectors could buy some students in British Columbia precious seconds to get to safety before the ground starts shaking. Program leader Prof. Carlos Ventura of the University of B.C. said as little as five seconds could…
Death toll exceeds 320 from flood, landslides in India, Pakistan
September 8, 2014 Nirmala George -THE ASSOCIATED PRESSNEW DELHI — Rescue workers in boats and helicopters worked to save thousands of people trapped in homes and on rooftops Monday after floods and landslides killed more than 320 people in the Himalayan region of Kashmir and eastern Pakistan.…