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Catastrophes


News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Damage caused by Balkans’ epic floods may exceed damage from wars in the 90s

May 21, 2014 Aida Cerkez and Jovana Gec, THE ASSOCIATED PRESS

SARAJEVO – Floodwaters receded Wednesday in Bosnia and Serbia, just enough to reveal the next shock: recovery from the historic flood will cost billions of euros that neither of the countries has. EU and NATO officials are visiting Bosnia Wednesday

News CatastrophesInsurance

Owner of railroad involved in deadly Quebec crash plans to ship oil again after track fixes

May 16, 2014 David Sharp, THE ASSOCIATED PRESS

PORTLAND, Maine – The company purchasing the assets of a railroad responsible for a fiery oil train derailment that claimed 47 lives in Quebec plans to resume oil shipments after track safety improvements are made, the firm’s top executive said

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Aviva plc’s 2014 Q1 financial results ‘reassuringly calm and stable’

May 15, 2014 by Canadian Underwriter

Aviva plc posted results in the first quarter of 2014 that were “reassuringly calm and stable, in marked contrast to the weather and regulatory developments,” the company reported Thursday. Overall, operating capital generation (OCG) in 2014 Q1 was £0.4 billion

News CatastrophesInsurance

Tornado confirmed near Mildmay, Ont.; house and 2 barns damaged by storm

May 14, 2014 The Canadian Press

MILDMAY, Ont. – Environment Canada says Ontario has its first confirmed tornado of the 2014 season. An Environment Canada survey team investigated wind damage from severe thunderstorms that roared across the Mildmay area southwest of Owen Sound on Tuesday afternoon.

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Wildfire threat eases in San Diego, residents start heading home after 20,000 homes evacuated

May 14, 2014 THE ASSOCIATED PRESS

SAN DIEGO – Wildfires pushed by gusty winds chewed through canyons parched by California’s drought, prompting evacuation orders for more than 20,000 homes on the outskirts of San Diego and another 1,200 homes and businesses in Santa Barbara County 250

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

ICLR to showcase homes demonstrating wildfire, flood risk reduction methods

May 13, 2014 Greg Meckbach, Associate Editor

The Institute for Catastrophic Loss Reduction (ICLR) is aiming to “influence” the construction of new homes in Canada and plans to demonstrate loss mitigation methods on two homes this year in Western Canada. In May 2013, ICLR showed the public

News CatastrophesInsurance

Canada changing tanker regulations, stops short of unlimited polluter liability

May 13, 2014 THE CANADIAN PRESS

SAINT JOHN, N.B. – The federal government says it is aiming to make polluters pay as it makes changes to legislation and regulations on oil tanker safety. But under proposed changes announced today by Transport Minister Lisa Raitt in Saint

News CatastrophesInsuranceMergers and Aqcuisitions

3 employees, railway company face charges in Quebec runaway oil train disaster that killed 47

May 13, 2014 Benjamin Shingler and Rob Gillies, THE ASSOCIATED PRESS

MONTREAL – Three employees of the railway company involved in last summer’s runaway oil train disaster that killed 47 people are due to appear in court Tuesday to face criminal negligence charges in the small Quebec town that was partially

News CatastrophesInsurance

Bill proposing compulsory insurance for ship owners reaches next stage

May 12, 2014 by Canadian Underwriter

Federal politicians debated last week a bill that would, if passed into law, make ship owners strictly liable for damage caused by hazardous or noxious substances and require them to maintain insurance for such losses. “The proposed amendments to the

News CatastrophesInsurance

Magnitude 5 earthquake rattles southern Pakistan, killing 1 person, injuring 70

May 9, 2014 Adil Jawad, THE ASSOCIATED PRESS

KARACHI, Pakistan – A moderate earthquake rattled several towns in southern Pakistan before dawn Friday, killing one person and injuring 70, a government official said. The magnitude 5 quake struck the district of Nawabshah, about 400 kilometres (240 miles) northeast

News CatastrophesInsurance

No leaks, injuries or hazard in Saskatchewan train derailment

May 9, 2014 THE CANADIAN PRESS

ESTEVAN, Sask. – Four tanker cars carrying crude oil derailed in Estevan, Sask., but officials say there were no spills or leaks. Estevan police chief Paul Ladouceur says a few businesses were initially evacuated as a precaution on Thursday morning,

News CatastrophesInsuranceMergers and Aqcuisitions

Powerful earthquake shakes Mexico City; workers evacuate buildings

May 8, 2014 THE ASSOCIATED PRESS

MEXICO CITY – A strong earthquake on the Pacific coast of Mexico shook the capital on Thursday, sending frightened office workers streaming into the streets away from high-rise buildings. The 6.4-magnitude temblor in southern Guerrero state had an epicenter about