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Keyword
catastrophe


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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

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsTechnology

The Co-operators reports net loss of $39.1 million in 2016 Q2 for Co-operators General Insurance Company

July 29, 2016 by Canadian Underwriter

Co-operators General Insurance Company, part of The Co-operators Group, took a hit from the devastating Fort McMurray wildfire, reporting a consolidated net loss of $39.1 million for 2016 Q2 compared to a net income of $58.2 million for 2015 Q2.

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Chubb Limited’s net income for 2016 Q2 down 22.8% from 2015 Q2

July 28, 2016 by Canadian Underwriter

Higher natural catastrophe losses globally were among the factors contributing to Chubb Limited reporting US$726 million in net income for the three months ended June 30, 2016 compared to US$942 million for the prior-year quarter. Chubb’s net income was also

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Worldwide mid-sized firms may fall short on insurance, risk management: Assurex Global survey

July 18, 2016 by Canadian Underwriter

Many mid-sized firms may lack adequate insurance, continuity planning, risk management and civil infrastructure support to prepare for and recover from large-scale natural disasters, suggests a new report from Assurex Global, a privately-held commercial insurance, risk management and employee benefits

News CatastrophesClimate ChangeEarnings / RatingsInsurance

Argo Group International Holdings Ltd., Blue Capital Reinsurance Holdings Ltd. report Alberta wildfires will have second-quarter impact

July 18, 2016 by Canadian Underwriter

Estimated losses from the Fort McMurray wildfires have hit another two companies operating in the reinsurance industry, with Bermuda-based Argo Group International Holdings Ltd. and Blue Capital Reinsurance Holdings Ltd. reporting late last week the event will have an impact

News CatastrophesClimate ChangeEarnings / RatingsInsuranceTechnology

Endurance’s estimated financial impact of several Cat events in 2016 Q2, including Alberta wildfires, is US$55.5 million

July 15, 2016 by Canadian Underwriter

Bermuda-based Endurance Specialty Holdings Ltd. reported Thursday that the company’s initial estimated net negative financial impact of several catastrophic events in 2016 Q2, including the wildfires in Alberta, is US$55.5 million. The events included in the initial estimate include the

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

XL Group’s preliminary loss estimate for nat-Cats in 2016 Q2 US$240 million, Fort Mac wildfires largest loss

July 14, 2016 by Canadian Underwriter

XL Group plc’s preliminary net loss estimate relating to natural catastrophes – including the largest single loss from the Alberta wildfires – is US$240 million for the second quarter of 2016, the company announced Wednesday. This estimate – pretax and

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Higher catastrophe losses, lower investment income fuel reduced growth in underwriting gain for U.S. p&c insurance

July 11, 2016 by Canadian Underwriter

The highest level of catastrophe losses in five years contributed to the U.S. property and casualty insurance industry witnessing deteriorated underwriting results in the first quarter of 2016 compared to the prior-year quarter, notes a special report issued Friday by

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsTechnology

200-year loss scenario from flood in Canada could produce insured losses of $5.7 billion: Swiss Re

June 15, 2016 by Canadian Underwriter

Flood is clearly the number one peril in Canada, with Swiss Re estimating that a “perfect storm” flood scenario would result in economic losses of $13.8 billion and insured losses of $5.7 billion. Developed using the company’s new probabilistic flood

News CatastrophesInsuranceMergers and Aqcuisitions

2016 Canadian wildfire season has already “greatly surpassed” average hectares burned, even excluding Fort McMurray event, CIFF conference hears

May 26, 2016 Jason Contant, Online Editor

The 2016 wildfire season in Canada has already greatly surpassed the average hectares burned in recent years, even excluding the massive Fort McMurray wildfire, attendees to the 2016 Canadian Insurance Financial Forum (CIFF) heard on Wednesday. Carolyn Rennie, managing director

News CatastrophesConstructionInsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

AIR estimates Fort McMurray wildfire insured losses at between $4.4 billion and $9 billion

May 17, 2016 by Canadian Underwriter

Industry 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

News CatastrophesInsuranceMergers and Aqcuisitions

Alberta government releases Fort McMurray fire damage surveillance app

May 16, 2016 The Canadian Press

EDMONTON – The Alberta government has released an app that will give Fort McMurray residents a good look at their properties. A message from Municipal Affairs Minister Danielle Larivee warns that viewing the satellite images may be traumatic, and the