Powerful aftershocks have shaken New Zealand since a magnitude-7.8 earthquake struck South Island near Hanmer Springs at 12:02 a.m. local time on Nov. 14, some as strong as magnitude-6.5, AIR Worldwide said on Monday. Although damage has been relatively light,…
Having as much solid information as possible – as early as possible – can help open up the marketplace when it comes to available coverages for construction projects, Peter Campbell, Halifax branch manager for Jardine Lloyd Thompson Canada, suggested during…
The outlook for surety in Canada is healthy, but a number of developments are introducing increased risk that need to be taken into account and properly managed, speakers suggested during the Toronto Risk and Insurance Education Forum last week in…
A “work performed” exclusion in a commercial general liability policy for a building contractor does not apply if a lawsuit against a contractor alleges consequential damage, the Court of Appeal for Ontario suggested in a ruling released Tuesday. Parkhill Excavating…
Hurricane Matthew, which swept through parts of the Caribbean and United States last month, is expected to cost up to US$15 billion to both economies, according to Aon Benfield’s latest Global Catastrophe Recap. Released on Wednesday, the report from Aon…
OKLAHOMA CITY – Oklahoma regulators are ordering the shutdown of more disposal wells and restricting the volume of others near where a magnitude 5.0 earthquake struck. The plan released Tuesday by the Oklahoma Corporation Commission’s Oil and Gas Division requires…
“Sitting on the sidelines is not an option while climate change threatens our future,” Vancouver Mayor Gregor Robertson emphasized last week in announcing the city’s next moves to prepare for sea level rise over the next century. “The massive costs…
All 10 Canadian provinces and Yukon are not making the grade when it comes to flood preparedness, signalling the need for change, including not allowing municipalities to override provincial or territorial direction on development in flood-prone areas, argues a new…
Arch Capital Group Ltd. of Hamilton, Bermuda, reporting a 7.5% overall increase in net premiums written, a 2.1-point improvement in loss ratio and a drop in reinsurance premiums partly due to a decline in casualty, marine and aviation lines premiums.…
A disputed $14.5-million claim on a course of construction policy, arising from an incident when concrete slabs over-deflected during the building of a hospital addition, was recently remanded by the Supreme Court of Canada to the British Columbia Court of…
More than US$625 million in property damages were prevented during Hurricane Sandy in 2012 by coastal wetlands along the coast northeast coast of the United States, according to a new report released on Tuesday. Using the latest modelling techniques, scientists…
RMS has estimated Hurricane Matthew will produce insured losses of US$1.5 billion to US$5 billion for the United States and US$1 billion to US$3 billion in the Caribbean, making it the reinsurance industry’s costliest Atlantic hurricane since Sandy four years…