Topic Construction
Too many unknowns to recommend fracking in western Newfoundland: review panel
May 31, 2016 by Sue Bailey - THE CANADIAN PRESSST. JOHN’S, N.L. – There are too many unknown risks and data gaps to green-light fracking, says a government-appointed panel that studied hydraulic fracturing in western Newfoundland. In a report released Tuesday, it recommends that the province continue its freeze…
Climate change scientists ask federal government to reject B.C. LNG project
May 30, 2016 by Gemma Karstens-Smith - THE CANADIAN PRESSVANCOUVER – Dozens of international climate scientists are calling on the Canadian government to reject a proposed liquefied natural gas project in northwestern British Columbia, saying it would have dire environmental effects. Ninety academics from Canada, the United States, Australia…
XL Catlin adds rectification expense cover to contractor’s professional and pollution legal liability insurance
May 30, 2016 by Canadian UnderwriterContractors and environmental consultants in Canada and the United States now have access to enhanced protection under XL Catlin’s contractor’s professional and pollution legal liability insurance with the addition of rectification expense coverage. Standard professional liability coverage addresses third-party claims…
Passage of U.S. flood insurance bill would boost development of private market: A.M. Best
May 27, 2016 by Canadian UnderwriterInsurance rating firm A.M. Best Company said on Thursday that it believes that pending legislation that would encourage more private insurers to write flood insurance in the United States would be a positive development for the current flood insurance marketplace…
Verisk Insurance Solutions expands FireLine to Western Canada
May 26, 2016 by Canadian UnderwriterVerisk Insurance Solutions announced on Thursday that it is expanding its FireLine wildfire risk management service to include the provinces of Alberta and British Columbia. FireLine, which is well-established in the western United States, enables property-specific assessment of wildfire risk…
B.C. provides $1.47 million for flood mitigation project near Fairmont Hot Springs Resort
May 24, 2016 by Canadian UnderwriterThe 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…
National Energy Board recommends conditional approval of the Trans Mountain Expansion Project
May 20, 2016 by Canadian UnderwriterCanada’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…
Earthquakes triggered by oil and gas activity have been happening in Texas since at least 1925, new study says
May 20, 2016 by Canadian UnderwriterEarthquakes 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…
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 UnderwriterThe 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…
AIR estimates Fort McMurray wildfire insured losses at between $4.4 billion and $9 billion
May 17, 2016 by Canadian UnderwriterIndustry 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…
Contractors say co-ordination needed as focus turns to rebuilding Fort McMurray
May 13, 2016 by Ian Bickis - THE CANADIAN PRESSCALGARY – 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…
Catastrophic Fort McMurray wildfire shows need for fire resilience
May 6, 2016 by Canadian UnderwriterThe 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…