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Field crews measure record flooding along Mississippi, Ohio Rivers
January 8, 2016 by Canadian UnderwriterField crews with the U.S. Geological Survey (USGS) are measuring record flooding on rivers and streams in 12 states across the country, with more than 50 preliminary record-high flood measurements along the Mississippi and Ohio Rivers and their tributaries. The…
Alberta government meets with residents affected by last summer’s flood
January 8, 2016 The Canadian PressCHESTERMERE, Alta. – The Alberta government is beginning to meet with residents affected by a massive rain and hail storm which flooded streets in Chestermere last July. Residents in Chestermere and Rocky View County will have until March 16 to…
Final property market loss estimate for Europe’s windstorm Elon-Felix totals 329 million euros: PERILS
January 8, 2016 by Canadian UnderwriterWindstorm Elon-Felix, which affected western and northern Europe in January 2015, resulted in a final loss estimate of 329 million euros, according to PERILS AG, a Zurich-based insurance industry initiative that provides exposure and event loss data. Issued on Friday,…
AGCS launches crisis management division in North America
January 7, 2016 by Canadian UnderwriterAllianz Global Corporate & Specialty (AGCS) is looking to help its North American clients with preventing, preparing for and recovering from crisis incidents with the launch of a new division. The company’s new Crisis Management division will operate from within…
Global insured losses in December likely to approach or exceed US$2 billion: Impact Forecasting
January 6, 2016 by Canadian UnderwriterPreliminary estimates suggest that total economic losses from weather events in December – including significant storms in the United States and United Kingdom – will exceed US$4 billion, with insured losses “likely to approach or exceed US$2 billion,” Aon Benfield…
Precipitation contributes to major flooding on Mississippi River
January 4, 2016 by Canadian UnderwriterFlooding on the Mississippi River is “approaching or even exceeding” the flood levels reached in 2011, Verisk Analytics Inc.’s AIR Worldwide unit warned last week. The United States mid-western region “has endured repeated precipitation events in the last month, including…
Winter storms in northeast Canada and U.S. costliest global nat cat in 2015: Munich Re
January 4, 2016 by Canadian UnderwriterThe costliest global natural catastrophe for the insurance industry was a series of winter storms that struck the northeast United States and Canada, Munich Re said in its 2015 nat cat review, released on Monday. According to a press release…
Winnipeg business owners, residents say snow clearing crews causing damage
December 30, 2015 The Canadian PressWINNIPEG – A winter storm that hit Winnipeg just before Christmas took a big chunk out of the city’s budget due to snow clearing, but now it appears it may cost even more. Some residents and business owners have filed…
Disaster assistance available for flood-affected residents in Chestermere, Rocky View County, Alberta
December 23, 2015 by Canadian UnderwriterSouthern Alberta residents affected by an intense rainstorm in July may be eligible for provincial disaster funding to help repair damages, the provincial government announced on Dec. 18. On July 12, nearly 300 residential property owners in Chestermere and Rocky…
Nearly half of Canada’s First Nation reserves have ‘little to no’ fire protection: Report
December 21, 2015 Chinta Puxley - THE CANADIAN PRESSWINNIPEG – An internal federal government report says almost half the First Nations across Canada have “little to no fire protection” and rely too heavily on poorly trained volunteer firefighters who can’t do the job. The 2011 report examining insurance…
Construction waste landslide buries buildings in Shenzhen, China; 85 people missing
December 21, 2015 Paul Traynor - THE ASSOCIATED PRESSSHENZHEN, China – Rescuers searched Monday for 85 missing people a day after the collapse of a mountain of excavated soil and construction waste that had been piled up over two years in China’s manufacturing centre of Shenzhen. Authorities said…
Economic losses from global catastrophes estimated at US$85 billion in 2015, but only US$32 billion in insured losses: Swiss Re
December 18, 2015 by Canadian UnderwriterPreliminary sigma estimates indicate total global economic losses from natural catastrophes and man-made disasters will total approximately US$85 billion in 2015, but just US$32 billion in insured losses, Swiss Re reported on Friday. Insured losses from natural catastrophes were lower…