Canadian Underwriter

Topic Construction

News CatastrophesConstruction

Italy prepares for reconstruction, starts post quake probe

September 2, 2016 by Nicole Winfield - THE ASSOCIATED PRESS

ROME – Italy began looking to the future Wednesday a week after an earthquake flattened three towns, with Premier Matteo Renzi tapping a reconstruction czar to oversee the rebuilding and investigators acquiring the first documentation into the construction blamed for

News CatastrophesConstructionMergers and Aqcuisitions

Nearly 60,000 single-family homes in New Orleans to move out of special flood hazard areas by end of September: CoreLogic

August 30, 2016 by Canadian Underwriter

Nearly 60,000 single-family homes in New Orleans with a reconstruction cost value (RCV) of more than US$12 billion will move out of Special Flood Hazard Areas (SFHAs), according to updated maps published by the Federal Emergency Management Agency (FEMA). Officially

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“Limited impact” expected for Italian insurers following earthquake: Fitch

August 29, 2016 by Canadian Underwriter

The impact on Italian insurers from the earthquake that struck the central part of the country is likely to be limited, ratings firm Fitch Ratings said on Friday. Fitch Ratings estimates insured losses of 100 million to 200 million euros,

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Saskatchewan law enforcement officers issued more than 5,000 speeding or aggressive driving-related tickets in July: SGI

August 26, 2016 by Canadian Underwriter

Saskatchewan Government Insurance (SGI) announced on Thursday that law enforcement officers in the province issued more than 5,000 speeding or aggressive driving-related tickets last month. July’s traffic safety spotlight focused on work zones and aggressive driving, SGI, the province’s self-sustaining

News CatastrophesConstructionInsurersMergers and Aqcuisitions

Recent earthquakes a reminder that events can happen anywhere: I.I.I.

August 26, 2016 by Canadian Underwriter

The recent earthquakes in Italy and Myanmar are a warning to homeowners and business owners in regions that may also be at risk to consider purchasing earthquake insurance, notes the Insurance Information Institute (I.I.I.). Just 10% of homeowners in the U.S. have

News CatastrophesConstructionInsurersMergers and Aqcuisitions

Low-quality cement, inadequate supporting rods among issues in Italian region hit by earthquake: Aon

August 24, 2016 by Canadian Underwriter

The region of Italy hit by an earthquake early Wednesday morning, which killed at least 65, has buildings with “inadequate supporting iron rods” and a “relatively low” penetration of earthquake insurance for residential property, Aon plc’s Impact Forecasting LLC subsidiary

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Homes more resistant to ignition by embers had improved survival in Fort Mac wildfire, “luck” not a factor: ICLR report

August 22, 2016 by Canadian Underwriter

Surviving homes in otherwise decimated neighbourhoods of Fort McMurray hit by this spring’s massive wildfire were more resistant to ignition by embers, notes a preliminary report issued by the Institute for Catastrophic Loss Reduction (ICLR). Home survival is not random

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Fire sprinkler installation projects in retirement homes, supportive housing, eligible for new Ontario government funding

August 19, 2016 by Canadian Underwriter

Three years after the Ontario government mandated automatic sprinklers in retirement homes and other facilities housing vulnerable people within five years, the province’s community and social services ministry announced Thursday it will provide $6.5 million to more than 130 facilities

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AIG Canada launches risk management and mitigation service for residential construction projects with budgets of $5 million or more

August 10, 2016 by Canadian Underwriter

AIG Insurance Company of Canada (AIG Canada) has announced the launch of Smart Build, a risk management and mitigation service for residential construction projects with budgets of $5 million or more. Calling it the first-of-its-kind program in Canada, the Canadian-based

News CatastrophesConstruction

Alberta fires torch economy, biggest monthly GDP decline in more than 7 years

July 31, 2016 by Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Alberta wildfires torched the Canadian economy in May, driving the country into its worst one-month performance since the darkest days of the Great Recession. On Friday, Statistics Canada’s latest reading for real gross domestic product showed a

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Thousands without power in Quebec after brief wind storm

July 19, 2016 by The Canadian Press

Almost 13,000 Hydro Quebec customers were without electricity late Monday following a brief but powerful wind storm earlier in the day. The community of Roxton Falls east of Montreal appeared to bear the brunt of the storm, with trees and

News CatastrophesConstructionMergers and Aqcuisitions

Fort McMurray #468 First Nation selected by SPECS to carry out wildfire debris removal

July 18, 2016 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) has announced that Fort McMurray #468 First Nation has been selected by Specialized Property Evaluation Control Services Ltd. (SPECS) to carry out the coordinated demolition and debris removal initiative following the Fort McMurray wildfire.