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Cyber capability should be on parity with established aspects of terrorist armory: Pool Re
November 23, 2015 by Canadian UnderwriterA potential shift toward cyber terrorism is among the factors contributing to the United Kingdom’s move last week to double funds set aside to combat cyber attacks, Julian Enoizi, chief executive of Pool Reinsurance Company Limited, notes in a recent…
Driver missing near Hope, B.C., after storm sweeps logging truck from road
November 19, 2015 The Canadian PressHOPE, B.C. – Search and rescue crews are looking for a man missing in the mountains north of Hope, B.C. Police say a logging truck is believed to have been washed off of a forest service road in Tuesday’s storm.…
Washington governor declares state of emergency for all counties after damage from storm
November 19, 2015 Lisa Baumann - THE ASSOCIATED PRESSSEATTLE – Gov. Jay Inslee declared a state of emergency Wednesday in Washington state after days of rain and a powerful storm Tuesday killed three people, cut power to more than 350,000 residents and flooded rivers. The winds on Tuesday…
Climate change could present more threat than anticipated to insurance industry: Standard & Poor’s
November 19, 2015 by Canadian UnderwriterInsurers’ capital positions could be affected by lower investment income and higher capital requirements, as well as by an anticipated increase in weather-related claims due to climate change, Standard and Poor’s Rating Services said in an analyst article earlier this…
Honda has the most models on government’s high risk list in Takata air bag inflator recall
November 18, 2015 Tom Krisher - THE ASSOCIATED PRESSDETROIT – Cars and trucks from the 2008 model year or older that were originally sold or registered in high humidity areas along the U.S. Gulf Coast are getting top priority for repairs as the government commences the massive Takata…
Powerful winds knock power out for tens of thousands of BC Hydro customers
November 18, 2015 Tamsyn Burgmann - THE CANADIAN PRESSVANCOUVER – A vigorous cold front swept across southern British Columbia on Tuesday, bringing gale-force winds that cut power to tens of thousands of BC Hydro customers. The utility announced Tuesday night that strong wind gusts during the dinner hour…
Security, protecting property not top of mind for some U.S. homeowners: Allstate
November 17, 2015 by Canadian UnderwriterVisions of sugar-plums – not thoughts of how best to protect property – seem to be dancing in the heads of more than a third of polled homeowners in the United States as the festive season approaches, suggests a new…
Most Canadians not aware of common home insurance condition that could result in a denied claim: Square One Insurance
November 16, 2015 by Canadian UnderwriterVancouver-based Square One Insurance Services Inc. has found that the majority of Canadians are not aware of a common home insurance condition that, if not met, eliminates coverage for damage from frozen pipes. Square One Insurance said on Monday that…
Alberta invests in natural flood and drought protection with nearly $3 million in grants
November 13, 2015 by Canadian UnderwriterThe government of Alberta announced on Friday that it is providing grants totalling nearly $3 million to 12 organizations to help improve the flood and drought resiliency of communities across the province. The grants, through the Watershed Resiliency and Restoration…
Texas storms in April and May result in paid residential property losses of nearly US$900 million, state insurance council reports
November 13, 2015 by Canadian UnderwriterSevere storms in Texas in April and May of this year have resulted in paid residential property losses close to US$900 million from 114,000 claims, the Insurance Council of Texas (ICT) said on Thursday. Beginning in late March, multiple severe…
Accused plead not guilty on federal charges laid in Lac-Mgantic derailment
November 13, 2015 The Canadian PressLAC-MÉGANTIC, Que. – A number of accused have pleaded not guilty to federal charges laid in connection with the 2013 Lac-Mégantic train derailment. The accused are all former employees of now-defunct Montreal, Maine and Atlantic Railway Ltd., and most were…
‘Fresh water’ flood coverage available Nov. 17 for new RSA Canada homeowner policies
November 12, 2015 Greg Meckbach, Associate EditorStarting Nov. 17, Canadian insurance brokers will be able to offer policies covering fresh water flooding written by RSA Canada to some homeowners purchasing sewer backup coverage, a senior RSA Canada official said Thursday. A new RSA Canada endorsement, called…