Topic
Catastrophes
San Francisco airline crash highlights issues with cockpit culture
December 12, 2013 Stephen Braun and Martha Mendoza, THE ASSOCIATED PRESSWASHINGTON – The investigation into the crash-landing of an Asiana Airlines flight at San Francisco’s airport last summer has highlighted problems with cockpit culture and the trainee pilot’s lack of confidence in his ability to safely land the Boeing 777.…
Vancouver gets updated earthquake preparedness plan
December 4, 2013 by Canadian UnderwriterThe city of Vancouver now has an updated earthquake preparedness plan, which uses lessons learned from major overseas disasters. City Council received a staff report Tuesday outlining 56 actions to improve Vancouver’s preparedness for a major earthquake event. Read more:…
Adherence to polluter pays principle should remain at the core of Canada’s preparedness, response to oil spills
December 4, 2013 by Canadian UnderwriterEnsuring Canadian taxpayers do not bear any liability for tanker oil spills in Canadian waters – adhering to the polluter pays principle – are among the key assumptions underpinning recommendations for improving the country’s preparedness and response to ship-source oil…
California company offers discount for homeowners who buy earthquake insurance coverage
December 3, 2013 by Canadian UnderwriterThe Automobile Club of Southern California has announced what it says is the first-ever homeowners insurance discount for policyholders who obtain earthquake coverage through the California Earthquake Authority. Beginning Jan. 1, the Auto Club is offering a discount of up…
Consistent profitability ‘eludes’ American home insurance carriers: A.M. Best
December 3, 2013 by Canadian UnderwriterHomeowners insurance is frequently unprofitable for United States carriers and but those who use tools such as exposure mapping software and “more rigorous property inspections” can manage their risk exposures better, suggests a new report from credit rating provider A.M.…
Global pandemic, food and water crisis among top ranked ‘extreme risks’
December 3, 2013 by Canadian UnderwriterA global pandemic, a large-scale natural catastrophe and a food/water/energy crisis are the top three “extreme risks” over the long-term, according to a survey of global insurance industry executives conducted by Towers Watson. Cyber-warfare, an economic depression, a banking crisis…
Expect the Unexpected
December 1, 2013 Angela Stelmakowich, EditorA robust risk management approach should not stop at a particular percentile and a holistic risk management framework should include very unlikely, but potentially high-impact, events.
Best to Assess
December 1, 2013 Angela Stelmakowich, EditorIt is hoped a new pilot project involving three different municipalities in three different provinces will offer similar outlooks regarding the value of being able to assess municipal infrastructure before the next severe weather event occurs.
‘Emotive factors’ play key role in risk-related behaviours, earthquake study suggests
November 29, 2013 by Canadian UnderwriterLloyd’s announced Friday that a psychology professor from University College London won the Lloyd’s Science of Risk prize for a paper on people’s attitudes towards earthquake risk. Helene Joffe, a professor at UCL’s division of psychology and language sciences, submitted,…
CN Rail to invest $10 million for monitoring technology as part of safety effort
November 29, 2013 THE CANADIAN PRESSMONTREAL – Canadian National Railway Co. (TSX:CNR) says it’s investing $10 million in a special program to enhance its ability to detect equipment defects, such as hot wheels and bearings in its rolling stock. The Montreal-based company, one of North…
Talk to the animals: Calgary Zoo fully reopens after flooding
November 28, 2013 Bill Graveland - THE CANADIAN PRESSCALGARY – Hundreds of grownups and children pressed up behind a purple banner Thursday as they waited for the chance to reconnect with furry, feathery, scaly and leathery friends at the Calgary Zoo. A cheer went up when Mayor Naheed…
Direct relationship between higher risk maturity and better return on equity: Aon
November 27, 2013 by Canadian UnderwriterThere is a direct relationship between a higher “risk maturity rating” and better relative stock performance, as well as higher return on equity for an organization, according to a new report from Aon. The Aon Risk Maturity Index Insight Report…