Topic
Catastrophes
Payouts for New Zealand’s Canterbury earthquake more than $11 billion to date
April 2, 2014 by Canadian UnderwriterThe payouts by insurance companies in New Zealand in the wake of the 2011 Canterbury earthquake crossed the $11 billion mark as of the end of February. Insurance companies have paid out $11.103 billion in commercial and residential Canterbury earthquake…
ICLR talk to discuss forest fire risk management
April 2, 2014 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction will be holding a workshop focused on forest fires from a risk management perspective. The April 11 event, part of ICLR’s ongoing Friday Forum series, will host David Martell a professor in the Faculty…
Magnitude 8.2 quake kills only 6 in Chile; seismologists say bigger quake likely someday
April 2, 2014 Luis Andres Henao, THE ASSOCIATED PRESSSANTIAGO, Chile – Authorities lifted tsunami warnings for Chile’s long coastline early Wednesday after a magnitude-8.2 earthquake struck the South American nation’s northern coast. Six people were crushed to death or suffered fatal heart attacks, a remarkably low toll for…
Focus northern emergency response on people who live there, not tourists: report
March 31, 2014 Bob Weber, THE CANADIAN PRESSA study done across the North is suggesting that emergency planners in the Arctic should start thinking about the people who live there and stop talking about tourists on cruise ships. “Everyone’s focused on what happens when the cruise ship…
Deadly Washington state mudslide highlights lack of national landslide tracking, maps
March 31, 2014 Phuong Le and Gosia Wozniacka, THE ASSOCIATED PRESSSEATTLE – People living in the path of a deadly Washington state landslide had virtually no warning before a wall of mud, trees and other debris thundered down the mountain. Some of the homeowners didn’t even know the hillside could…
High warming of climate presents challenges for responses to risk: climate panel
March 31, 2014 by Canadian UnderwriterThe Intergovernmental Panel on Climate Change (IPCC) reports there are opportunities for effective responses despite a changing climate that creates pervasive risks and challenges that will continue to be posed by high warming. In a report released Monday, IPCC notes…
Big quake from lesser known fault that shook Southern California could be catastrophic
March 30, 2014 - The Associated Press (APR)LA HABRA, Calif. – Experts say a bigger earthquake along the lesser-known fault that gave Southern California a moderate shake could do more damage to the region than the long-dreaded ”Big One” from the more famous San Andreas Fault. The…
50th anniversary of Great Alaskan Earthquake a reminder of current risk: IBC
March 28, 2014 by Canadian UnderwriterThe 50th anniversary of the Great Alaskan Earthquake this week highlights the current risk faced in Canada and worldwide of a catastrophic earthquake, the Insurance Bureau of Canada said Friday. The three-minute earthquake triggered a tsunami, causing ground fissures and collapsing…
Emergency Management BC ‘not adequately prepared’ for catastrophic earthquake: report
March 27, 2014 by Canadian UnderwriterEmergency Management BC is not prepared should a catastrophic earthquake occur in British Columbia, a new report from the province’s auditor general has concluded. Auditor General Russ Jones also found that neither the province nor EMBC has made preparing for…
MPs debate proposal to raise liability limits to $1 billion for nuclear operators, offshore oil and gas industry
March 27, 2014 by Canadian UnderwriterFederal politicians debated this week a proposed law that would increase the absolute liability for offshore oil and gas companies, as well as nuclear operators, to $1 billion. Bill C-22, the Energy Safety and Security Act, was tabled in January…
CN to phase out certain tank cars used in transporting dangerous goods
March 26, 2014 by Canadian UnderwriterCN has announced plans to phase out DOT-111 tank cars over the next four years as part of its ongoing efforts to strengthen the company’s safety management system (SMS) and improve transportation of dangerous goods. “We have developed a comprehensive…
Insured losses from 2013 global catastrophes totals $45 billion: Swiss Re
March 26, 2014 by Canadian UnderwriterGlobal insured losses from natural catastrophes and man-made disasters last year were $45 billion, with flooding and hail events contributing in large part, according to the latest sigma study from Swiss Re. That’s still down $81 billion over 2012, partially…