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CatIQ enters into agreement with Impact Forecasting to use cat event flood response footprints for Canada

August 11, 2017 Jason Contant, Online Editor

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ) announced that they have entered into an agreement whereby Impact Forecasting’s cat event response flood footprints for Canada will be made available as a layer on CatIQ’s CatHUB module. “Aon Impact Forecasting’s Canadian

News CatastrophesInsuranceMergers and Aqcuisitions

Saskatoon thunderstorm estimated to cost over US$30 million, floods and convective storms cost global economy US$5 billion in June: Aon Benfield

July 6, 2017 by Canadian Underwriter

A thunderstorm over Saskatoon on June 2 that spawned ping pong ball-sized hail is estimated to cost more than US$30 million, Aon Benfield said in its Global Catastrophe Recap report for the month of June. The fast-developing thunderstorm caused the

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesReinsuranceTechnology

New Zealand proposes shaking up earthquake commission scheme to smooth claims resolution

June 27, 2017 by Canadian Underwriter

New Zealand will continue to flesh out the details of proposed changes aimed at simplifying and improving the Earthquake Commission (EQC) scheme to help support more timely response to affected policyholders. Reforms to the Earthquake Commission Act seek to “simplify

News CatastrophesInsuranceMergers and Aqcuisitions

Worst flooding since 1998 leaves US$33 billion economic toll in China: Aon’s Impact Forecasting

August 4, 2016 by Canadian Underwriter

Flooding in China in July caused an estimated US$33 billion in economic losses, but claims payouts represented less than 2% of the cost, according to Impact Forecasting’s monthly Global Catastrophe Recap. The report from Impact Forecasting, Aon Benfield’s catastrophe model

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

Impact Forecasting launches new cat modelling platform, including new flood models for Canada

July 12, 2016 by Canadian Underwriter

Impact Forecasting announced on Tuesday that it has launched ELEMENTS 10, its complete catastrophe modelling platform, which includes new flood models for Canada. ELEMENTS 10 offers the ability to run insurers’ own or third-party model, plus access to new flood

News CatastrophesInsuranceMergers and Aqcuisitions

Global disasters in May, including Fort McMurray wildfire, leading to US$7 billion in claims: Aon Benfield

June 8, 2016 by Canadian Underwriter

Global disasters in May led to at least US$7 billion in claims, including anticipated insured losses in excess of US$3.1 billion from the Fort McMurray wildfire, according to Aon Benfield’s Global Catastrophe Recap for May. The Global Catastrophe Recap report,