Canadian Underwriter

Topic
Catastrophes


News CatastrophesInsuranceMarkets / Coverages

‘Different financial model’ needed for flood coverage: IBC

November 14, 2017 Greg Meckbach, Associate Editor

The National Roundtable on Flood Risk, scheduled Thursday in Regina, presents a “terrific opportunity launch a national conversation on flood risk,” said Craig Stewart, vice president of federal affairs for Insurance Bureau of Canada. Along with IBC president and CEO

News CatastrophesInsuranceMarkets / Coverages

Insurers’ advice to brokers about overland flood policies

November 14, 2017 Greg Meckbach, Associate Editor

Amid concerns about the frequency and severity of flooding in Canada, insurers are advising brokers to “stay on top” of the various water coverage products in the market, as well as to bear in mind that different carriers are taking

News CatastrophesInsuranceMarkets / Coverages

Powerful earthquake on Iran-Iraq border kills over 350

November 13, 2017 Nasser Karimi and Amir Vahdat - THE ASSOCIATED PRESS

TEHRAN, Iran – A powerful 7.3 magnitude earthquake near the Iraq-Iran border killed over 350 people across both countries, sent residents fleeing their homes into the night and was felt as far away as the Mediterranean coast, authorities said Monday.

insPRESS AnnouncementsAppointmentsAssociationsCatastrophesClaimsClimate ChangeConstructionEarnings / RatingsInsuranceLegalLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsProductsProfessional DevelopmentReinsuranceTechnology

New Editor-in-Chief for Canadian Underwriter as veteran journalist David Gambrill returns

November 13, 2017 Canadian Underwriter

TORONTO, Nov. 13, 2017 /insPRESS/ – Newcom Business Media Inc. is pleased to announce the appointment of David Gambrill as Editor-in-Chief of Canadian Underwriter. “David is an award-winning writer and editor who’s arguably Canada’s most experienced and knowledgeable insurance journalist,”

News CatastrophesEarnings / RatingsInsurance

Hurricanes Harvey, Irma & Maria make it “critical” to address shortcomings of NFIP: A.M. Best

November 11, 2017 by Canadian Underwriter

The United States National Flood Insurance Program – which expires next month – “remains essential and has a purpose,” A.M. Best Company Inc. said in a recent report. But without billions in relief provided in a law passed Oct. 26,

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

Munich Re reports Q3 combined ratio of 160.9%, predicts 112% for full year

November 9, 2017 by Canadian Underwriter

Despite losing about 2.7 billion euros on three recent North Atlantic hurricanes alone, Munich Re said Thursday it is “expecting to generate a small profit” this year. Munich Re released its financial results for the period ending Sept. 30, reporting

News CatastrophesClaimsInsuranceMarkets / Coverages

California wildfires could cost insurers up to US$8 billion: Aon Benfield

November 9, 2017 by Canadian Underwriter

Historic wildfires in portions of California last month could cost insurers as much as US$8 billion, according to Aon Benfield’s Global Catastrophe Recap for October. The report, released on Thursday by Impact Forecasting, the catastrophe modelling development centre of Aon

News CatastrophesClaimsInsuranceMarkets / Coverages

Insured losses from Cyclone Debbie reach AUS$1.5 billion, 85% of claims closed

November 7, 2017 by Canadian Underwriter

Insurers have paid AUS$1 billion in claims related to Cyclone Debbie, with more than 85% of claims now closed, the Insurance Council of Australia (ICA) reported on Monday. Cyclone Debbie now ranks as the second-most expensive cyclone in Australian history,

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

North American commercial insurance buyers likely to face rate increases in 2018: Willis Towers Watson

November 7, 2017 by Canadian Underwriter

Commercial insurance buyers in North America are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most “active and financially disruptive hurricane seasons in history,” according to Willis Towers

News CatastrophesClaimsInsuranceMarkets / Coverages

ICLR to hold webinar on homes impacted by Hurricane Irma

November 7, 2017 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) will soon be hosting its final Friday Forum of the year, focusing on Hurricane Irma and impacted homes in Florida. The webinar – Hurricane Irma Damage Assessment: Investigating the performance of Florida’s homes

News CatastrophesClaimsInsuranceMarkets / Coverages

California asks US for $7.4 billion for wildfire rebuilding

November 6, 2017 Olga R. Rodriguez - THE ASSOCIATED PRESS

SAN FRANCISCO – California Gov. Jerry Brown and lawmakers asked the U.S. government Friday for $7.4 billion to help rebuild after a cluster of fires tore through the heart of wine country, killing more than 40 people and leaving thousands

News CatastrophesClaimsInsuranceMarkets / Coverages

Moving dangerous product by rail continues to be popular, despite Lac-Mégantic disaster: speaker

November 6, 2017 Jason Contant, Online Editor

Despite the Lac-Mégantic train derailment in July 2013 that claimed the lives of 47 people, destroyed more than 30 buildings and released about 6.3 million litres of oil into the environment, “moving any type of dangerous product by rail continues