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Rail, flood disasters prompt Saskatoon to stage large scale evacuation drill

October 8, 2013 THE CANADIAN PRESS

SASKATOON – About 180 people were evacuated from four high-rise buildings in Saskatoon as part of a multi-agency drill to test the city’s emergency preparedness. The people taking part in Exercise Domino were transported Monday morning to a reception centre

News CatastrophesInsurance

Fukushima plant reports another contaminated water leak after overfilling tank with no gauge

October 3, 2013 Mari Yamaguchi, THE ASSOCIATED PRESS

TOKYO – Another day, another radioactive-water spill. The operator of the meltdown-plagued Fukushima Dai-ichi nuclear plant says at least 430 litres (110 gallons) spilled when workers overfilled a storage tank without a gauge that could have warned them of the

Sharon Ludlow, President and CEO, Swiss Re Canada
Feature Catastrophes

Maturing Process

October 1, 2013 Sharon Ludlow, President and CEO, Swiss Re Canada

The staggering insurance losses following Hurricane Andrew not only served as a wake-up call for the industry, but the resulting scarcity of traditional coverage prompted the market to innovate and seek alternative sources of capacity. The response included insurance-linked securities, a market that has matured and witnessed significant growth in recent years.

Angela Stelmakowich, Editor
Feature CatastrophesMergers and Aqcuisitions

Pain and Gain

October 1, 2013 Angela Stelmakowich, Editor

Damage from severe weather events may be insurable; it may not be insurable. But whether covered or not, someone, somewhere is going to have to pick up the tab. In the case of flooding, that payer may be the insurer

Desmond Carroll Assistant Vice President, Guy Carpenter Canada
Feature Catastrophes

Knowing the Unknown

October 1, 2013 Desmond Carroll Assistant Vice President, Guy Carpenter Canada

Ice storm, wildfire and flood have all produced costly events in Canada. It used to be that accurately modelling perils such as flood and wildfire for a country like Canada was computationally unfeasible, but today that computational power exists.

News CatastrophesInsurance

ICLR workshop to look at lessons Canada can learn from worldwide damaging earthquakes

September 26, 2013 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction will be hosting a workshop on earthquakes and what Canada can learn from damaging events across the world. The Oct. 11 event, part of the ICLR’s ongoing Friday Forum series, will host Dr. Garry

News CatastrophesInsuranceMergers and Aqcuisitions

City council in New Zealand given green light to use modified method to conduct revaluation following quakes

September 26, 2013 by Canadian Underwriter

Christchurch City Council (CCC) in New Zealand is finally moving forward with a revaluation of more than 160,000 city properties, a long-awaited review that was delayed as a result of the Canterbury earthquakes in 2010 and 2011. The city-wide revaluation

News CatastrophesInsurance

Commercial broker explains how third-party logistics contracts can make underwriting more difficult

September 25, 2013 Greg Meckbach, Associate Editor

NICC 2013 – Some of the contracts that large retailers are asking their third-party logistics providers to sign make it difficult for insurance carriers to underwrite the risks those logistics firms are taking on, a marine risk expert for a

News CatastrophesClimate ChangeInsurance

Swiss Re among partners committed to building resilience of cities worldwide

September 25, 2013 by Canadian Underwriter

Swiss Re is among the organizations to accept the challenge and commit to supporting a network of member cities to build resilience to natural disasters and other risks. The announcement of a global commitment to action to the 100 Resilient

News AssociationsCatastrophesInsuranceMergers and Aqcuisitions

Earthquake risk model coming for Canada, no flood model yet

September 24, 2013 Harmeet Singh, Online Editor

NICC 2013 – Catastrophe modelling firm AIR Worldwide will be launching an earthquake risk model for Canada next year, after it conducted a major analysis for a study commissioned by the Insurance Bureau of Canada. In June 2014, the firm

News AssociationsCatastrophesInsurance

P&C industry must start dialogue on major earthquake risk in Canada, IBC says

September 23, 2013 Harmeet Singh, Online Editor

NICC 2013- A major earthquake is the most significant threat that the property and casualty insurance industry in Canada faces, and creating a dialogue with governments and consumers is critical for the industry’s continued solvency, the Insurance Bureau of Canada

News CatastrophesClimate ChangeInsurance

UN climate panel stresses solidity of new report on global warming

September 23, 2013 Karl Ritter, THE ASSOCIATED PRESS

STOCKHOLM, Sweden – Seeking to dispel any doubts over the credibility of their work, U.N. climate experts called their latest report an unbiased and reliable assessment of global warming as they presented it Monday to officials from 110 governments for