Topic Catastrophes
What’s New: In brief (June 20, 2005)
June 20, 2005 by Canadian UnderwriterCORRECTION NOTICE: Royal & Sun Alliance Insurance Group Plc. is not calling for bids as was stated in the news release published on June 20, 2005. A Royal & Sun representative says the Company has no plans to call for…
Integro Canada recruits another ex-Marsh to its team
June 15, 2005 by Canadian UnderwriterIntegro USA an insurance brokerage firm offering brokerage and risk management services recently appointed John Chippindale as the new managing director and president of Integro Canada. Chippindale is another ex-Marsh Canada employee the New York-based firm has recruited to its…
Antarctic polluters liable for environmental damage
June 15, 2005 by Canadian UnderwriterAn international treaty has recently been developed to protect the Antarctic environment and under this pact, anyone who causes an environmental accident in the region will be held liable, according to the government of New Zealand the country chaired negotiations…
Tornadoes and tsunami’s threaten Canadian residents
June 15, 2005 by Canadian UnderwriterEnvironment Canada recently issued two tornado warnings for southwestern Ontario due to a report from a Ontario Provincial Police officer referencing a tornado touching down northeast of Fergus, Ontario and further reports that a tornado touched down in Elmvale.A funnel…
What’s New: In brief (June 15, 2005)
June 15, 2005 by Canadian UnderwriterFlood registration centers recently opened to assist Albertans who have been impacted by recent flooding. Claims can be made at any registration center call 1-888-671-1111 for more information on the claims process. The $55 million disaster recovery program covers damage…
Ontario legislation to fine ‘polluters’ for accidental spills
June 13, 2005 by Canadian UnderwriterThe Ontario government has passed a law mandating that companies found polluting the environment will be fined on the spot.Under Bill 133, government inspectors are now awarded the power to fine companies up to $100,000 a day and individual employees…
What’s New: In brief (June 10, 2005)
June 10, 2005 by Canadian UnderwriterFGIC Corp. recently appointed Eric Rosensweig to the position of managing director, international finance. Offering seven years of experience with MBIA, Rosensweig will be responsible for new business opportunities in the emerging markets and Canada. Most recently, he served as…
Alberta residents to receive financial aid on uninsurable flood damage
June 9, 2005 by Canadian UnderwriterIn response to damages incurred from recent flash floods in southern Alberta, the province has approved a $55 million disaster recovery program. The funds will aid residents of 17 Alberta municipalities and three First Nations, compensating for uninsurable severe weather-related…
IBC releases flood precaution advisory for Alberta
June 8, 2005 by Canadian UnderwriterA recent advisory released by the Insurance Bureau of Canada (IBC) warns policyholders in southern Alberta to prepare in advance of possible flooding.Policyholders are told to contact their insurance company or representative as soon as possible if flooding occurs and…
FM Global places catastrophe bond on BC fault line
June 8, 2005 by Canadian UnderwriterFactory Mutual Insurance Co. recently issued its first private placement of a US$300 million catastrophe bond as insurance against earthquake loss in the Pacific Northwest region of the United States and Canada. Operating as FM Global, a mutual commercial and…
What’s New: In Brief (June 07, 2005)
June 7, 2005 by Canadian UnderwriterOntario’s Ministry of Transportation has launched a three-day truck and bus safety inspection blitz running from June 7 to 9, 2005. Inspection stations province wide are manned by provincial enforcement officers to inspect the condition of buses, trucks and trailers,…
What’s New: In brief (June 03, 2005)
June 3, 2005 by Canadian UnderwriterToyota Motor Co’s (TM.NYS) Prius petrol-electric hybrid sedan is facing investigation by the US regulatory authority, due to complaints of a sudden stalling of its engine. Preliminary evaluation of approximately 75,000 Prius models manufactured in 2004-2005 is being implemented by…