Topic
Catastrophes
Another CN Freight train derails in New Brunswick, second in three weeks
January 27, 2014 THE CANADIAN PRESSSAINT BASILE, N.B. – Another CN freight train has derailed in New Brunswick, the second to run off the tracks in the province this month. Local authorities say at least three cars derailed late Sunday night in the Edmunston-area parish…
‘Garbage in, garbage out’: High-quality data key for sound use of earthquake risk models
January 24, 2014 by Canadian UnderwriterHaving complete and comprehensive data before running a catastrophe model is crucial when assessing earthquake risk, AIR Worldwide’s experts argue, reiterating a point stressed by the federal regulator in its recently-revised guideline on the issue. Uncertainty in data input creates uncertainty…
Yet another Quebec town reeling as fatal fire rips through seniors’ residence
January 24, 2014 Andy Blatchford, THE CANADIAN PRESSL’ISLE-VERTE, Que. – A Quebec village was jolted awake Thursday to the chaos of people scrambling to free neighbours from a seniors’ residence as wind-fuelled flames rushed to swallow the building. Pascal Fillion, who lives near the seniors’ home…
Investigators: Oil train crash could cause ‘major loss of life;’ issue safety recommendations
January 23, 2014 by Canadian UnderwriterWASHINGTON – Warning that a “major loss of life” could result from an accident involving the increasing use of trains to transport large amounts of crude oil, U.S. and Canadian accident investigators urged their governments Thursday to impose new safety…
Transportation Safety Board calls for tougher standards for rail tank cars
January 23, 2014 THE CANADIAN PRESSOTTAWA – The Transportation Safety Board is calling for better protection standards for tanker cars used to haul flammable liquids by rail. Acting in the aftermath of the deadly Lac-Megantic disaster, the board is recommending that so-called DOT-111 cars used…
Municipal federation says emergency response plans needed for oil transport
January 22, 2014 THE CANADIAN PRESSOTTAWA – Municipal leaders say they are making headway with the federal government on rail safety issues, but would like to see emergency response assistance plans for the transport of crude oil and ethanol. Transport Minister Lisa Raitt met today…
Railway in Lac Megantic crash that killed 47 sold in closed door auction
January 22, 2014 David Sharp, THE ASSOCIATED PRESSPORTLAND, Maine – The Maine-based railway that went bankrupt after a fiery oil train derailment killed 47 people last summer in Lac-Megantic, Que., was sold at auction Tuesday to a subsidiary of a New York City-based investment management company. Railroad…
A look at British Columbia’s biggest earthquakes
January 21, 2014 THE CANADIAN PRESSBritish Columbia has a history as Canada’s hub of seismic activity, with fully half of the country’s top 10 temblors taking place in that province. Here are the five most significant earthquakes to hit the area: 1700: When a quake…
‘Jell O and cheese’ effect could really shake up Vancouver during earthquake
January 21, 2014 Vivian Luk, THE CANADIAN PRESSVANCOUVER – New research is shaking up the entire notion of what could happen to the Vancouver area during an earthquake, indicating bridges and tall buildings would rattle and sway a whole lot more than previously thought. Two studies published…
Insurance companies in Canada see record-breaking, $3.2-billion severe weather insured loss in 2013: IBC
January 20, 2014 by Canadian UnderwriterThe $3.2 billion in insured losses from severe weather represents the highest ever in Canadian history, the Insurance Bureau of Canada (IBC) reports. The late-year ice storm – which wreaked havoc on parts of southern Ontario and eastern Canada –…
Australia governments funding for property clean-up after bushfire to protect insured entitlements: insurance council
January 20, 2014 by Canadian UnderwriterThe move by the federal and Western Australia (WA) governments to make more funds available for cleaning up properties destroyed or damaged in the Parkerville bushfire will help to protect property owner entitlements, suggests the Insurance Council of Australia (ICA).…
Make catastrophic loss an insured peril, insurance executive says
January 17, 2014 Greg Meckbach, Associate EditorProperty insurers should consider offering “catastrophic” coverage for policyholders to address the lack of overland flood coverage in Canada, while an aging population is going to affect property and casualty insurers as governments try to download health costs to carriers…