Canadian Underwriter

Topic Catastrophes

News Catastrophes

2003’s busy hurricane season could be repeated in 2004

December 8, 2003 by Canadian Underwriter

Eminent hurricane forecaster Prof. William Gray of Colorado State University says the above average hurricane season experienced in 2003 could well be repeated in 2004. “The recent upturn in Atlantic basin major hurricane activity which began in 1995 is expected

News Catastrophes

California wildfire loss estimate $2 billion: ISO

November 20, 2003 by Canadian Underwriter

Despite rating agency estimates of a much higher insured loss from last month’s California wildfires, insurers should face a bill of about US$2.04 billion says the US Insurance Services Office (ISO). The ISO’s property claim services unit says the fires

News Catastrophes

Moody’s ups California wildfire estimate to US$2.5 billion

November 13, 2003 by Canadian Underwriter

Rating agency Moody’s predicts insured losses stemming from the wildfires that raged through Southern California this fall will be in the US$2.5 billion-US$3.5 billion range.Nonetheless, Moody’s does not expect the fires to materially impact the ratings or the overall outlook

News Catastrophes

Hurricane Juan damage pegged at $85 million

November 7, 2003 by Canadian Underwriter

Damage in the wake of Hurricane Juan in Nova Scotia and PEI will cost insurers more than $85 million, says the Insurance Bureau of Canada (IBC).In Nova Scotia, property damage is estimated at $76.5 million, with PEI hitting $5.7 million.

News Catastrophes

III pegs California wildfire loss at US$2 billion

November 6, 2003 by Canadian Underwriter

While much of the wildfires raging through California are now under control, the US Insurance Information Institute (III) says damage could easily top US$2 billion, making these the worst fires in California history.As of Monday, 5,980 claims had been filed