Topic Claims
Widespread flooding in San Juan as first Cat 4 hurricane in 85 years makes landfall in Puerto Rico
September 21, 2017 by Canadian UnderwriterHurricane Maria is causing river levels to approach or exceed record levels in the United States territory of Puerto Rico, while Hurricane Irma could cause total economic losses of up to US$95 billion in the U.S. and the Caribbean, catastrophe…
Reduction in prejudgment interest rate in Ontario auto lawsuits applies retrospectively: Court
September 21, 2017 by Canadian UnderwriterA reduction two years ago, in Ontario’s prejudgment interest rate for pain and suffering damages awarded in auto bodily injury lawsuits, was intended to apply to lawsuits arising from vehicle collisions before 2015 if they go to trial after Bill…
Rescuers dig through collapsed buildings as Mexico quake kills 225
September 20, 2017 by Christopher Sherman, Peter Orsi and Mark Stevenson - THE ASSOCIATED PRESSMEXICO CITY – Rescuers said Wednesday they have found a surviving child in the ruins of a school that collapsed in Mexico’s magnitude 7.1 earthquake, one of many efforts across the city to save people trapped in under schools, homes…
Quebec announces new measures for flooding victims
September 12, 2017 by The Canadian Press (CPSTF)MONTREAL – Quebec’s public security minister says new measures to assist flood victims who feel they’ve been abandoned by the province will help them cut through the bureaucracy. Martin Coiteux was in Montreal on Tuesday to announce personalized meeting days…
Hurricane Harvey highlights magnitude of insurance protection gap: Aon Benfield
September 12, 2017 by Canadian UnderwriterFlood losses from Hurricane Harvey have again highlighted the global insurance protection gap, Aon Benfield said in a newly released report. On Monday, Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, released the September edition of…
Death toll rises to 35 from powerful, magnitude 8.1 earthquake in Mexico
September 8, 2017 by Mark Stevenson - THE ASSOCIATED PRESSMEXICO CITY – One of the most powerful earthquakes ever recorded in Mexico struck off the country’s southern coast, toppling hundreds of buildings, triggering tsunami evacuations and sending panicked people fleeing into the streets in the middle of the night.…
8.5 million properties in Florida at significant risk of potential wind damage from Hurricane Irma: CoreLogic
September 8, 2017 by Canadian UnderwriterNearly 8.5 million residential and commercial properties in Florida are at either “extreme,” “very high” or “high” risk of wind damage from Hurricane Irma, new data from CoreLogic shows. According to data analysis from the global property information, analytics and…
Third-party drone services developing, immediate post-incident use still a challenge
September 8, 2017 by Angela StelmakowichA trend seems poised to take flight whereby companies in need of drone services to gain specific insights will increasingly tap the expertise of third-party providers. “I think third-party companies who provide services utilizing drones will be more common than…
Total property damage from Hurricane Harvey’s flooding estimated at between US$65-75 billion: AIR Worldwide
September 7, 2017 by Canadian UnderwriterProperty losses from flooding in Texas caused by Hurricane Harvey’s record-breaking rainfall will be between US$65 billion and US$75 billion, catastrophe modelling firm AIR Worldwide estimated in a press release issued late Wednesday. The estimate includes damage to all properties…
PERILS discloses extratropical cyclone Zeus’ third loss estimate at 284 million euros
September 6, 2017 by Canadian UnderwriterPERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has disclosed a third loss estimate of 284 million euros for extratropical cyclone Zeus, which affected France on March 6 and 7. The revised estimate of the property insurance…
“Drastic action” needed to address ICBC ails, remedy hefty rate hikes
September 6, 2017 by Canadian UnderwriterThe British Columbia government has taken the reins to protect drivers and address mounting financial concerns at the Insurance Corporation of B.C. (ICBC), including by limiting rate increases that threatened to reach double-digits. “Drastic action is needed to fix ICBC’s…
Free online offering hopes to bolster catastrophe modelling understanding
September 5, 2017 by Canadian UnderwriterWhat has been described as the first free and neutral open online catastrophe modelling course was launched today to help those working in climate change and disaster loss mitigation, academia and insurance better understand the use of models in nat-Cat…