Topic Construction
Federal decision is at hand for proposed LNG plant in northern B.C.
September 26, 2016 by Bruce Cheadle - THE CANADIAN PRESSOTTAWA – Environment Minister Catherine McKenna has a final environmental assessment of the Pacific NorthWest LNG project in hand, with the federal Liberal cabinet set to meet Tuesday in the national capital. A decision from the Liberal government on the…
4.8 magnitude earthquake in Texas in 2012 triggered by wastewater injection, study confirms
September 26, 2016 by Canadian UnderwriterA 4.8 magnitude earthquake that “rattled residents” and damaged buildings in East Texas in 2012 was triggered by the injection of large volumes of wastewater from oil and gas activities into rocks deep beneath the surface, confirmed a new satellite…
West Virginia Governor calls special legislative session to address “unprecedented” June flood costs
September 19, 2016 by Canadian UnderwriterEarl Ray Tomblin, the Governor of West Virginia, announced on Friday an extraordinary session of the state legislature to address the state’s share of costs associated with flooding in late June of this year. “The June flooding was unprecedented in…
Port Lands of Toronto receive nearly $49 million in federal and provincial funding for flood protection
September 15, 2016 by Canadian UnderwriterThe governments of Canada and Ontario have announced a bilateral agreement that will make more than $1.1 billion in combined funding available under the new Clean Water and Wastewater Fund (CWWF). Amarjeet Sohi, the federal Minister of Infrastructure and Communities,…
Change in exposure driving widening gap between insured, economic losses following disaster events
September 14, 2016 by Angela StelmakowichCALGARY – A dramatic loss scenario around disaster events is developing globally, contributing to a widening gap between insured and economic losses, Alex Kaplan, senior vice president of global partnerships for Swiss Re, suggested earlier this week during the RIMS…
Oilsands carbon capture and storage project reaches one-year milestone
September 14, 2016 by Canadian UnderwriterShell Canada has announced that the Quest carbon capture and storage (CCS) project has captured and stored one million tonnes of carbon dioxide (CO2) underground “ahead of schedule” in its first year of operation. Quest is the first CCS project…
PACICC warns of ‘risk of financial contagion’ if earthquake losses exceed $30 billion
September 6, 2016 by Canadian UnderwriterProperty and Casualty Insurance Compensation Corp. is urging federal finance minister Bill Morneau to “carefully look” at recommendations made last month in a C.D. Howe Institute report, including a suggestion that Ottawa make arrangements to provide financial assistance to PACICC…
Italy prepares for reconstruction, starts post quake probe
September 2, 2016 by Nicole Winfield - THE ASSOCIATED PRESSROME – 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…
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 UnderwriterNearly 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…
“Limited impact” expected for Italian insurers following earthquake: Fitch
August 29, 2016 by Canadian UnderwriterThe 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,…
Saskatchewan law enforcement officers issued more than 5,000 speeding or aggressive driving-related tickets in July: SGI
August 26, 2016 by Canadian UnderwriterSaskatchewan 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…
Recent earthquakes a reminder that events can happen anywhere: I.I.I.
August 26, 2016 by Canadian UnderwriterThe 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…