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Weather risk accounts for an estimated US$56 billion in untapped wind energy asset values globally: GCube

January 31, 2017 by Canadian Underwriter

Resource underperformance has surpassed mechanical breakdown and component damage as the major obstacle to achieving bankable wind energy projects, GCube Underwriting Ltd. notes in a report estimating the untapped asset values of wind energy stakeholders around the world at US$56

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Manitoba to streamline farm building code requirements

January 25, 2017 by Canadian Underwriter

The government of Manitoba announced on Wednesday that it is removing “unnecessary regulatory requirements” on the construction of farm buildings. Manitoba Agriculture Minister Ralph Eichler suggested in a statement that the removal of the regulations will support the long-term, sustainable

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Canadian pipeline applications to require more emergency response information

January 12, 2017 by Canadian Underwriter

The National Energy Board (NEB), an independent federal regulator of several parts of Canada’s energy industry, announced on Wednesday that it will require companies to provide additional emergency response detail during the pipeline application phase of a project. NEB said

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City of Toronto announces road safety plan for 2017, including 76 new red light camera sites

January 11, 2017 by Canadian Underwriter

The City of Toronto has announced its Vision Zero Road Safety Plan for 2017, which includes 45 new measures that will be introduced this year targeted at eliminating fatalities and reducing serious injuries, with an emphasis on pedestrians, aggressive and

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CMW Insurance Services, Capri Insurance Services merger positions new company for growth

January 10, 2017 by Canadian Underwriter

The merger of CMW Insurance Services Ltd. and Capri Insurance Services Ltd. creates one of the largest independent, employee-owned insurance brokerages and risk management firms in Western Canada, the companies reported Monday. Effective Jan. 1, 2017, “the merger leverages the

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Severe weather, nat-cats cause record insurable damage in Canada: IBC/CatIQ

January 6, 2017 by Canadian Underwriter

Severe weather last year exacted a heavy toll in terms of insured losses, with the $4.9 billion hit dwarfing the previous annual record of $3.2 billion in 2013, Insurance Bureau of Canada (IBC) reports. Flooding in southern Alberta and the

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Dufferin County offers rebates to property owners who install hurricane straps

December 13, 2016 by Canadian Underwriter

Developers and property owners in Ontario’s Dufferin County are eligible for rebates if they install hurricane straps in their buildings, a county official says. Hurricane straps, which are metal bands that wrap around trusses and connect to walls, “can largely

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Chubb introduces Cyber COPE, a new model for underwriting cyber insurance

December 13, 2016 by Canadian Underwriter

Chubb announced on Tuesday that it has introduced Cyber COPE, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks. Authored by Ross Cohen, director of cyber/privacy services

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Death toll grows to 36 at Oakland warehouse fire

December 5, 2016 by Kristin J. Bender and Brian Melley - THE ASSOCIATED PRESS

OAKLAND, Calif. – The death toll in the Oakland warehouse fire has grown to 36 and authorities say they expect the number to rise when they resume work later Monday following a temporary work stoppage. A wall is leaning inward,

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Saskatchewan government introduces act aimed at enhancing regulatory oversight of provincial pipelines

November 29, 2016 by Canadian Underwriter

The Government of Saskatchewan announced on Monday that it has introduced new legislation aimed at enhancing regulatory oversight of the province’s oil and gas industry. The government introduced The Pipelines Amendment Act in the Legislature, replacing The Pipelines Act, the

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Preparing Canada for inevitable earthquake recognized as a national social and economic threat: IBC’s Forgeron

November 22, 2016 by Canadian Underwriter

Preparing Canada for an inevitable earthquake is a priority for the insurance industry, as this is recognized as a “national social and economic threat,” said Don Forgeron, president and CEO of the Insurance Bureau of Canada (IBC), in response to

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Federal government should consider emergency back-stop mechanism for catastrophic earthquake: conference board

November 22, 2016 by Canadian Underwriter

The Conference Board of Canada is echoing a recent recommendation by a former federal superintendent of financial institutions for Ottawa to consider adopting a last-resort, emergency back-stop mechanism for a catastrophic earthquake given the long-reaching, adverse effects that the event