Canadian Underwriter

Topic Catastrophes

News Catastrophes

Pritchard Woodall handles BC ferry claims (August 31, 2005)

August 31, 2005 by Canadian Underwriter

Regional adjusting firm Pritchard Woodall & Associates were recently called upon to deal with the aftermath of the Queen of Oak Bay Ferry damaging some 29 vessels and a commercial wharf located at Horseshoe Bay in North Vancouver, BC.Working with

News Catastrophes

Catastrophe bonds not likely to attach, S&P’s reports

August 30, 2005 by Canadian Underwriter

Standard & Poor’s Ratings Services recently began monitoring the effects of Hurricane Katrina on the economy and on credit, industrial, energy and utility, financial services, insurance, and public finance issuers and reports, based on a preliminary analysis, that the damage

News Catastrophes

Cunningham Lindsey responds to Katrina

August 30, 2005 by Canadian Underwriter

Cunningham Lindsey Canada recently began processing calls from the Company’s Echo Intake Solutions call center in response to Hurricane Katrina.“Our call center provides support around the clock so in catastrophe’s such as Hurricane Katrina, we have trained staff available to

News CatastrophesMergers and Aqcuisitions

Suspending licenses immediately may reduce DUIs

August 29, 2005 by Canadian Underwriter

Automatically suspending the licenses of people charged with impaired driving is helping reduce the number of drunk drivers on the province’s roads, according to a study completed for the Alberta government.The study shows that there was a 24% drop in

News Catastrophes

Katrina damage estimates range from $9 to $26 billion

August 29, 2005 by Canadian Underwriter

Estimates for property damages incurred as a result of Hurricane Katrina range from $9 billion to $26 billion, according to three separate sources.Estimates of insured losses on the Gulf Coast could range from $9 to $16 billion, according to Oakland,

News Catastrophes

AIR Worldwide estimates loss estimate, Hurricane Katrina

August 26, 2005 by Canadian Underwriter

AIR Worldwide has estimated the insured losses from the initial landfall of Hurricane Katrina should not exceed US$600 million. Katrina, with maximum sustained wind speeds of 80 mph at landfall, was a fairly weak Category 1 storm. However, the AIR

News CatastrophesMergers and Aqcuisitions

Allstate backs taxpayer insurance pool (August 26, 2005)

August 26, 2005 by Canadian Underwriter

A catastrophe insurance pool bolstered by taxpayers may be the best bet for US consumers, according to Allstate Corp.Natural and manmade disasters from hurricanes to flooding and explosions and even terrorism are inevitable yet the US private insurance system is

News CatastrophesMergers and Aqcuisitions

GTA flood costs over $100 million

August 24, 2005 by Canadian Underwriter

The series of thunderstorms and tornadoes that recently hit southern Ontario will cost over $100-million in claims, according to the Insurance Bureau of Canada (IBC).Mark Yakabuski, vice president federal affairs and Ontario, IBC, says already 5,200 homeowner insurance claims and

News CatastrophesMergers and Aqcuisitions

Tropical storm forms in the Atlantic

August 24, 2005 by Canadian Underwriter

The 12th depression of the Atlantic hurricane season recently gained strength en route from Nassau, Bahamas to southeastern Florida reaching 39 mph upgrading it to Tropical Storm Katrina.According to the U.S. National Hurricane Center forecast, the storm is expected to

News CatastrophesMergers and Aqcuisitions

Flood costs mount, over 5,000 claims filed

August 23, 2005 by Canadian Underwriter

Approximately 4,500 homeowners, 50 businesses and 500 vehicle owners are in the process of sending their insurance adjusters claims as a result of the torrential storms that recently swept across the greater Toronto area from Oshawa to Brampton, ON with

News Catastrophes

August record month for airline losses

August 22, 2005 by Canadian Underwriter

The four recent airline crashes that occurred in Canada, Italy, Venezuela and Greece, have put August on the map as the worst month for airline losses in more than three years, according to Aon Corp. The value of the most

News CatastrophesMergers and Aqcuisitions

Clean up ensues following southern Ontario storms

August 22, 2005 by Canadian Underwriter

A series of storms, including two tornadoes, recently wreaked havoc on southern Ontario destroying homes, flipping cars, downing power lines and more. Environment Canada reports the F-2 (a “Strong” rating on the Fujita scale) tornadoes traveled with winds ranging between