Topic
Catastrophes
Quebec rail victims could begin to see compensation in mid 2014: U.S. trustee
October 22, 2013 THE CANADIAN PRESSMONTREAL – The U.S. bankruptcy trustee overseeing the insolvent railway involved in July’s deadly explosion in Lac-Megantic, Que., says he hopes to begin distributing “meaningful” compensation to victims in mid-2014. Robert Keach said he hopes to allocate the $25 million…
No timeline for residents to return to homes near Alberta derailment site
October 21, 2013 Bob Weber, THE CANADIAN PRESSSTONY PLAIN, Alta. – A spokesman for CN said Monday it was too early for residents of an Alberta community to be allowed to return to their homes near the site of a derailment. “We had hoped that that could…
Great BC ShakeOut earthquake drill breaks record for number of participants
October 17, 2013 by Canadian UnderwriterThis year’s Great BC ShakeOut earthquake preparation drill had more than 690,000 participants, setting a new record and beating out last year by about 100,000. The annual drill took place Thursday morning at various locations across B.C., with participants including…
Federal government expects to invest in infrastructure, support community resilience
October 17, 2013 by Canadian UnderwriterOttawa will invest $70 billion in federal, provincial, territorial and community infrastructure over the next decade, Governor General David Johnston said during the Speech from the Throne Wednesday. “Projects such as building subways in the Greater Toronto Area, replacing Montreal’s…
Death toll in Philippines quake jumps to 93, most from Bohol epicenter
October 15, 2013 Bullit Marquez, THE ASSOCIATED PRESSCEBU, Philippines – The death toll from a 7.2-magnitude earthquake that struck the central Philippine island of Bohol on Tuesday rose to 93, as rescuers struggled to reach patients in a collapsed hospital. Centuries-old stone churches crumbled and wide areas…
Robotics examination may shed light on what happened with isolation condensers following Japan quake
October 15, 2013 Angela Stelmakowich, EditorIt is unlikely what went wrong with isolation condenser units at the nuclear reactor in Japan in 2011 will be known, if ever, until robotics can disassemble the associated valves and systems, attendees heard during the Canadian Boiler and Machinery…
Rail, flood disasters prompt Saskatoon to stage large scale evacuation drill
October 8, 2013 THE CANADIAN PRESSSASKATOON – 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…
Fukushima plant reports another contaminated water leak after overfilling tank with no gauge
October 3, 2013 Mari Yamaguchi, THE ASSOCIATED PRESSTOKYO – 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…
Maturing Process
October 1, 2013 Sharon Ludlow, President and CEO, Swiss Re CanadaThe 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.
Pain and Gain
October 1, 2013 Angela Stelmakowich, EditorDamage 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…
Knowing the Unknown
October 1, 2013 Desmond Carroll Assistant Vice President, Guy Carpenter CanadaIce 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.
ICLR workshop to look at lessons Canada can learn from worldwide damaging earthquakes
September 26, 2013 by Canadian UnderwriterThe 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…