Canadian Underwriter

Topic Construction

News CatastrophesConstructionMergers and Aqcuisitions

More than 6.8 million U.S. homes with reconstruction value of US$1.5 trillion at risk from hurricane storm surge: CoreLogic

June 1, 2016 by Canadian Underwriter

More than 6.8 million homes on the Atlantic and Gulf coasts of the United States are at potential risk of damage from hurricane storm surge inundation, with a total reconstruction cost value of more than US$1.5 trillion, CoreLogic said on

News CatastrophesConstruction

Too many unknowns to recommend fracking in western Newfoundland: review panel

May 31, 2016 by Sue Bailey - THE CANADIAN PRESS

ST. JOHN’S, N.L. – There are too many unknown risks and data gaps to green-light fracking, says a government-appointed panel that studied hydraulic fracturing in western Newfoundland. In a report released Tuesday, it recommends that the province continue its freeze

News CatastrophesConstruction

Climate change scientists ask federal government to reject B.C. LNG project

May 30, 2016 by Gemma Karstens-Smith - THE CANADIAN PRESS

VANCOUVER – Dozens of international climate scientists are calling on the Canadian government to reject a proposed liquefied natural gas project in northwestern British Columbia, saying it would have dire environmental effects. Ninety academics from Canada, the United States, Australia

News ConstructionLegal

XL Catlin adds rectification expense cover to contractor’s professional and pollution legal liability insurance

May 30, 2016 by Canadian Underwriter

Contractors and environmental consultants in Canada and the United States now have access to enhanced protection under XL Catlin’s contractor’s professional and pollution legal liability insurance with the addition of rectification expense coverage. Standard professional liability coverage addresses third-party claims

News CatastrophesConstructionMergers and Aqcuisitions

Passage of U.S. flood insurance bill would boost development of private market: A.M. Best

May 27, 2016 by Canadian Underwriter

Insurance rating firm A.M. Best Company said on Thursday that it believes that pending legislation that would encourage more private insurers to write flood insurance in the United States would be a positive development for the current flood insurance marketplace

News CatastrophesConstructionMergers and Aqcuisitions

Verisk Insurance Solutions expands FireLine to Western Canada

May 26, 2016 by Canadian Underwriter

Verisk Insurance Solutions announced on Thursday that it is expanding its FireLine wildfire risk management service to include the provinces of Alberta and British Columbia. FireLine, which is well-established in the western United States, enables property-specific assessment of wildfire risk

News CatastrophesConstructionMergers and Aqcuisitions

B.C. provides $1.47 million for flood mitigation project near Fairmont Hot Springs Resort

May 24, 2016 by Canadian Underwriter

The province of British Columbia announced on Friday that it is committing nearly $1.5 million toward a flood mitigation project in East Kootenay. The $1.47 million in funding will go toward a flood mitigation project near Fairmont Hot Springs that

News CatastrophesConstructionLegalMergers and Aqcuisitions

National Energy Board recommends conditional approval of the Trans Mountain Expansion Project

May 20, 2016 by Canadian Underwriter

Canada’s National Energy Board (NEB) has issued a 533-page report recommending the approval of the Trans Mountain Expansion Project (Project), subject to 157 conditions. The recommendation from the NEB, an independent federal regulator of pipelines, energy development and trade, follows a

News CatastrophesConstructionMergers and Aqcuisitions

Earthquakes triggered by oil and gas activity have been happening in Texas since at least 1925, new study says

May 20, 2016 by Canadian Underwriter

Earthquakes triggered by oil and gas activity have been happening in Texas since at least 1925, and they have been widespread throughout the state ever since, according to a new historical review published online. A Historical Review of Induced Earthquakes

News CatastrophesConstructionMergers and Aqcuisitions

ICLR launches ‘Insurers Rebuild Better Homes’ program to help reduce risk of loss and damage from natural hazards, including wildfire

May 18, 2016 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) has launched what it’s calling the first program in the world that sets out actions that insurance companies can take to strengthen the disaster preparedness of homeowners by “building back better” homes after

News CatastrophesConstructionLegalMergers and Aqcuisitions

AIR estimates Fort McMurray wildfire insured losses at between $4.4 billion and $9 billion

May 17, 2016 by Canadian Underwriter

Industry insured losses from the Fort McMurray wildfire that began May 1 and is still being fought today is estimated at $4.4 billion to $9.0 billion, AIR Worldwide reported late Monday. The catastrophe modelling firm notes the estimate reflects insured

News CatastrophesConstructionMergers and Aqcuisitions

Contractors say co-ordination needed as focus turns to rebuilding Fort McMurray

May 13, 2016 by Ian Bickis - THE CANADIAN PRESS

CALGARY – Construction and cleanup firms are already mobilizing to help rebuild Fort McMurray, Alta., after the wildfires, a monumental effort that’s expected to take years. Ben Dutton at the Casman Group of Companies says he has crews heading up