Canadian Underwriter

Topic Construction

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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

News CatastrophesConstructionMergers and Aqcuisitions

Catastrophic Fort McMurray wildfire shows need for fire resilience

May 6, 2016 by Canadian Underwriter

The devastating wildfire in and around Fort McMurray – an event that has been estimated could produce insured losses of as much as $9 billion, becoming the most cost disaster event ever in Canada – clearly illustrates the pressing need

News CatastrophesConstructionMergers and Aqcuisitions

Alberta, TransAlta reach agreement to protect Calgary and other Bow River communities from flood and drought

April 28, 2016 by Canadian Underwriter

The province of Alberta has entered into a five-year agreement with power generation and wholesale marketing company TransAlta that will provide flood protection to Calgary, reduce the impacts of drought and help communities adapt to a changing climate. The five-year

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Cyber incidents in mining a complex topic for risk managers, mining product development has not kept pace with needs: Munich Re

April 12, 2016 by Angela Stelmakowich, Editor

SAN DIEGO – It is important for risk managers in the mining sector to understand the most critical scenarios for their companies and to analyze the true impacts of cyber incidents, suggests Günter Becker, head of mining for Munich Re.

News CatastrophesConstructionMergers and Aqcuisitions

Disasters at ports can cause ‘major accumulated losses across multiple lines of business,’ Swiss Re warns

March 30, 2016 by Canadian Underwriter

For the second year in a row, Canada had “few natural disasters” in 2015, while the Aug. 12 explosions arising from sodium cyanide in the Chinese port of Tianjin shows that insurers need “more risk mapping in aggregation points,” Swiss

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U.S. Justice Dept. announces charges in dam cyberattack

March 24, 2016 by Tami Abdollah and Eric Tucker - THE ASSOCIATED PRESS

WASHINGTON – Seven hackers tied to the Iranian government were charged Thursday in a series of punishing cyberattacks on a small dam outside New York City and on dozens of banks – intrusions that reached into American infrastructure and disrupted