Topic
Catastrophes
Eastern Caribbean Sea hit by 6.5 earthquake
February 18, 2014 by Canadian UnderwriterThe Caribbean experienced a magnitude 6.5 earthquake early Tuesday morning, with an epicentre north of Barbados and east of Martinique in an area described as one of the most seismically active in the region. The quake occurred at 9:27 Greenwich…
Municipalities ready their pitches for federal infrastructure spending blitz
February 14, 2014 Steve Rennie, THE CANADIAN PRESSOTTAWA – Municipalities are lining up for a piece of the Conservative government’s $14-billion blitz on infrastructure spending, with proposals for projects ranging from wastewater treatment to public transit. Pitches have been in the works for weeks – if not…
Natural, man-made disasters caused $40 billion in insured losses last year
February 13, 2014 by Canadian UnderwriterNatural and man-made disasters caused insured losses of around $40 billion last year, well below the 10-year average of $60 billion, risk and reinsurance specialist firm Guy Carpenter said in a report released Thursday. “Last year will likely be known…
New Zealand insurers pay out more than $10 billion for Canterbury earthquake recovery
February 13, 2014 by Canadian UnderwriterInsurers in New Zealand have paid out more than $10 billion in commercial and residential settlements from the Canterbury earthquake recovery, the country’s Insurance Council said on Wednesday. As of the end of 2013, $6.7 billion has been paid out…
White House launches voluntary guidelines for US industries to prevent against cyberattacks
February 13, 2014 Nedra Pickler, THE ASSOCIATED PRESSWASHINGTON – The White House on Wednesday offered to help U.S. businesses protect their computer systems from cyberattacks that President Barack Obama called “one the gravest national security dangers that the United States faces.” Administration officials warned during an event…
Federal proposals for residential flood insurance, disaster mitigation get kudos from Insurance Bureau
February 12, 2014 by Canadian UnderwriterThe federal government’s announcement Tuesday that it plans to consult with the industry for a “national approach to residential flood insurance” and to start funding projects such as flood control infrastructure in 2015, has been well received by the Insurance…
Powerful earthquake rocks remote western China; no casualties reported
February 12, 2014 THE ASSOCIATED PRESSBEIJING – A powerful earthquake struck a sparsely populated area of China’s far western region of Xinjiang on Wednesday, damaging some houses, though no casualties were reported. The U.S. Geological Survey said the magnitude-6.9 quake was centred 268 kilometres (167…
Ottawa lifts ceiling on funds for Lac Megantic decontamination and rebuilding
February 12, 2014 THE CANADIAN PRESSQUEBEC – Ottawa has agreed to lift the ceiling on the amount of money it will allocate to the decontamination and rebuilding of Lac-Megantic, the Quebec government announced Tuesday. The agreement provides for Ottawa to assume 50 per cent of…
Wildfires raging across southeast Australia destroy 20 homes, injure firefighter
February 10, 2014 THE ASSOCIATED PRESSMELBOURNE, Australia – Scores of wildfires raging across southeast Australia in dry and windy summer conditions have destroyed 20 homes and injured a firefighter, authorities said Monday. Victoria state Country Fire Authority chief officer Euan Ferguson said 20 homes had…
NDP calls on Tory government to ban all urban drilling in Alberta
February 7, 2014 THE CANADIAN PRESSLETHBRIDGE, Alta. – The Alberta New Democrats are calling on the provincial government to ban all drilling in urban areas. NDP Leader Brian Mason spoke with Lethbridge media Thursday just two kilometres from where GoldenKey Oil wants to drill three…
U.S. winter weather causes $1.5 billion in insured losses in January
February 6, 2014 by Canadian UnderwriterSevere winter weather in the United States in January caused insured losses in excess of $1.5 billion, according to the latest global recap report from Aon Benfield’s catastrophe model development arm, Impact Forecasting. The most severe and costliest weather occurred…
Storms, floods, disasters demonstrate importance of home emergency plans
February 5, 2014 Helen Branswell, THE CANADIAN PRESSTORONTO – Last summer, surging flood waters forced the evacuation of a section of Calgary that is home to 80,000 people. Over Christmas, an estimated three million people were affected by power outages caused by an ice storm that hit…