Topic Construction
Fire at historic church just outside Halifax a ‘devastating’ blow: member
March 22, 2017 by The Canadian PressNORTH PRESTON, N.S. – Fire has caused extensive damage to a large, historic church considered the cornerstone of a small community just east of Halifax. Firefighters from five stations were called Wednesday at 9:30 a.m. to extinguish a stubborn blaze…
Home Fire Sprinkler Coalition launches Canadian website
March 14, 2017 by Canadian UnderwriterA new website from the non-profit Home Fire Sprinkler Coalition (HFSC) – HomeFireSprinklerCanada.ca – seeks to help increase interest in the life-saving benefits of installed home fire sprinklers in new construction homes. In partnership with and funding from the Co-operators…
Ironshore Specialty Casualty construction cover now addresses M&A transition exposures
March 10, 2017 by Canadian UnderwriterBermuda-based Ironshore Specialty Casualty has enhanced its Transition Protection policy form to address contractual exposures associated with an organizational merger or acquisition (M&A) specific to the construction industry. Construction companies typically have contractual requirements to obtain insurance coverage for work…
XL Catlin quadruples North American builder’s risk capacity to US$1 billion
March 9, 2017 by Canadian UnderwriterXL Catlin announced on Wednesday that it has quadrupled its builder’s risk insurance capacity to US$1 billion from US$250 million for construction firms in North America. The increased coverage for high-value commercial real estate projects is the result of a…
IBC congratulates federal government on National Research Council decision to update Canada’s building codes
February 28, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is congratulating the federal government on the National Research Council Canada (NRC) decision to update the country’s building codes to reflect the realities of climate change. “This is something that Canada’s property and casualty…
Government of Alberta advances Disaster Recovery Program funding to help with Fort McMurray uninsurable costs
February 24, 2017 by Canadian UnderwriterThe government of Alberta announced on Thursday that it is advancing $20 million in Disaster Recovery Program funding to help with uninsurable costs related to the Fort McMurray wildfire. The funding is intended to help with uninsurable costs, such as…
Two U.S. dams illustrate challenge of maintaining older designs
February 22, 2017 by Michael R. Blood - THE ASSOCIATED PRESSLOS ANGELES – Twelve years ago, widespread destruction from Hurricane Katrina on the Gulf Coast helped compel federal engineers 2,000 miles away in California to remake a 1950s-era dam by constructing a massive steel-and-concrete gutter that would manage surging waters…
Weather risk accounts for an estimated US$56 billion in untapped wind energy asset values globally: GCube
January 31, 2017 by Canadian UnderwriterResource 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…
Manitoba to streamline farm building code requirements
January 25, 2017 by Canadian UnderwriterThe 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…
Canadian pipeline applications to require more emergency response information
January 12, 2017 by Canadian UnderwriterThe 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…
City of Toronto announces road safety plan for 2017, including 76 new red light camera sites
January 11, 2017 by Canadian UnderwriterThe 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…
CMW Insurance Services, Capri Insurance Services merger positions new company for growth
January 10, 2017 by Canadian UnderwriterThe 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…