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News Catastrophes

What’s new: In brief (August 04, 2004)

August 4, 2004 by Canadian Underwriter

Toronto-based Lindsey Morden has a new CEO who will also take on the top role at Cunningham Lindsey U.S.. Jan Christiansen was named to the position upon the resignation of Karen Murphy after four years. Christiansen was most recently CFO

News Catastrophes

Hurricane Alex a mild brother to Isabel

August 3, 2004 by Canadian Underwriter

The insurance industry was spared the full wrath of the first Atlantic hurricane Tuesday as Hurricane Alex made just a glancing blow on the North Carolina coast. Earlier it was feared Alex would be the first storm to cause major

News CatastrophesMergers and Aqcuisitions

What’s new: In brief (August 03, 2004)

August 3, 2004 by Canadian Underwriter

Pafco Insurance has commenced writing business as a stand-alone company in Ontario and New Brunswick as of Tuesday. The brand used to fall under the Pembridge mantle, but Pembridge CEO Bob Tisdale explains the separate Pafco licenses are intended to

News Catastrophes

Japan storms cost US$137 million; Europe’s oil industry hit by refinery fires

July 26, 2004 by Canadian Underwriter

Last week’s heavy rains in Japan are expected to cost insurers US$137 million, according to the General Insurance Association of Japan. At the same time, the oil industry in Europe is reeling from two refinery firs in the past month

News Catastrophes

U.S. Senate considers TRIA extension

July 22, 2004 by Canadian Underwriter

The U.S. Senate will consider a bipartisan bill to extend the Terrorism Risk Insurance Act (TRIA) until the end of 2007, much to the delight of insurers. The Property Casualty Insurers Association of America (PCI) says it is pleased to

News Catastrophes

B.C. earthquakes a “wake up call”

July 21, 2004 by Canadian Underwriter

Earthquakes which shook British Columbia this week point to the need for homeowners to ensure they have adequate coverage in place to deal with the earthquake risk, and to the need for disaster preparation to be in place in homes.The

News CatastrophesMergers and Aqcuisitions

Edmonton storm losses top $87 million

July 20, 2004 by Canadian Underwriter

Insured losses from the hail and rainstorm which caused widespread flooding in the Edmonton area have already caused insurers to post at least $87 million in reserves, and the total is sure to rise, says Louise Bremness, manager of regional

News Catastrophes

What’s new: In brief (July 18, 2004)

July 18, 2004 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is urging homeowners affected by the Peterborough, Ontario floods to check their insurance coverage with their insurer or representative as soon as possible to see if they are covered for sewer back-up. While flooding

News Catastrophes

Update: Edmonton storms could prove costly

July 15, 2004 by Canadian Underwriter

(Note change in last two paragraphs.)While claims figures are not yet available for flooding and hail damage in the Edmonton area this past weekend, the storms are likely to prove costly for insurers, says Jim Rivait, vice president of the

News Catastrophes

State of emergency declared following Peterborough floods

July 15, 2004 by Canadian Underwriter

Adjusters have already made their way to Peterborough, Ontario, where flooding has left the city in a state of emergency. While no damage figures are yet available, the city faces massive clean-up as basements flooded and roads washed away in

News Catastrophes

Actuaries say industry not ready to assume terrorism risk

July 14, 2004 by Canadian Underwriter

With the future of the Terrorism Risk Insurance Act (TRIA) currently being debated by U.S. legislators, the American Academy of Actuaries (AAA) says the insurance industry will not be prepared to assume the risk if TRIA is not renewed beyond

News Catastrophes

Global warming will lead to more extreme weather events: Benfield

July 13, 2004 by Canadian Underwriter

Even as some countries prepare to comply with the Kyoto Protocol, new research suggests greenhouse gas emissions are on the rise, and the global warming impact of these emissions will surely cause more intense weather events for insurers to deal