Topic Catastrophes
Canada not fully prepared for terrorist attack (July 12, 2005)
July 12, 2005 by Canadian UnderwriterAlmost immediately after London’s deadly terrorist bombings, Canada’s 24-hour emergency preparedness system kicked into effect and worked as intended. However, in a recent speech at an international conference on disaster management, federal public safety Minister Anne McLellan also highlighted the…
What’s New: In brief (July 12, 2005)
July 12, 2005 by Canadian UnderwriterB.C. Ferries are continuing to experience trouble with vessels, as another ferry recently lost power last night while approaching a berth in the southern Gulf Islands. Before it docked at Sturdees Bay on Galliano, the Queen of Cumberland lost three…
ING compensates flood victims in Alberta
July 8, 2005 by Canadian UnderwriterING’s insurance subsidiaries are assisting more than 5,000 customers to clean up and repair the water and hail damage incurred as a result of recent storms in southern Alberta. Jetse de Vries, chief operating officer for ING Canada, Western Region,…
Analysis of recent acts of terrors measures risk
July 8, 2005 by Canadian UnderwriterRecent terrorist attacks in London were strategically formulated to occur during the G8 meeting a tactic that risk analysts from Risk Management Solutions (RMS) say is characteristic of a Islamic militant terrorist attack., according to terrorism risk analysts at Risk…
Canada transit security heightened in response to London bombings
July 7, 2005 by Canadian UnderwriterIn response to recent bombings in London, security officials warn that Canada’s transit system may also be a target for similar attacks.Public Safety Minister Anne McLellan reports that security has been tightened for all transportation systems across Canada, specifically in…
Montreal highways hit with flash floods
July 7, 2005 by Canadian UnderwriterMontreal highways were recently flooded by a heavy flash flood. According to Const. Chantal Mackels, with the Quebec provincial police, no one was injured. However, she adds some drivers were caught in flood waters and had to be rescued by…
BC owners demand fair compensation following watery crash
July 5, 2005 by Canadian UnderwriterA mechanical fault in a 7,000-tonne BC-based ferry, recently caused the vessel to loose power and subsequently crush approximately 22 boats in the Horseshoe Bay ferry terminal in West Vancouver, according to Transportation Safety Board investigators. BC Ferries are now…
Tropical storm warnings mark hurricane season’s second month
July 5, 2005 by Canadian UnderwriterTropical storm Cindy the third named storm of the Atlantic hurricane season recently formed and is set to hit the coast of Louisiana coast. The National Hurricane Center in Miami expects Cindy may strengthen before hitting Louisiana, well exceeding it’s…
Insurers may lose terrorist protection
June 30, 2005 by Canadian UnderwriterThe U.S. Treasury Department recently released a report on the state of terrorism suggesting the Terrorism Risk Insurance Act (TRIA) should not be extended in its present form.Treasury secretary John Snow says, in a letter concurrent with the reports recent…
As climate heats up, Allianz premiums get fired-up
June 29, 2005 by Canadian UnderwriterEuropean insurer Allianz AG is set to increase future insurance premiums in direct response to the risk posed by global warming, which increases claims resulting from increased flood frequency and heat waves. In order to reduce greenhouse gas emissions caused…
Cost of storm damage to increase insured and uninsured loses by two-thirds
June 29, 2005 by Canadian UnderwriterCombined, global costs resulting from catastrophic storm damage may show an increase of two-thirds by the 2080s, according to the Association of British Insurers (ABI).The new report, “Financial Risks of Climate Change,” provides a global analysis of the projected climate-change…
Cunningham Lindsey Canada sends CAT team to Alberta
June 28, 2005 by Canadian UnderwriterCunningham Lindsey Canada is sending numerous catastrophe adjusters to devastated southern Alberta, where recent mass flooding has caused insurmountable damage. The Company is sending over 30 CAT adjusters who have been working on Alberta’s claims resulting from flood and hail…