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Social media analytics not being used to full potential in corporate investigations: Deloitte
October 15, 2015 by Canadian UnderwriterSocial media analytics can help organizations scan for both previously and not-yet identified threats, but these tools are underutilized in corporate investigations, suggest findings of an online poll in the United States released this week by Deloitte Advisory. In all,…
Tianjin explosions could cost PartnerRe $70 million
October 14, 2015 by Canadian UnderwriterBermuda insurance carrier PartnerRe Ltd. announced Tuesday it is estimating its losses from the Aug. 12 explosions in Tianjin, China will be up to US$70 million. The Associated Press reported in August that the explosions originated at a warehouse where…
Fire crews battle another multimillion dollar blaze on southern Alberta reserve
October 14, 2015 The Canadian PressSTANDOFF, Alta. – Fire crews were fighting another multimillion-dollar fire on a reserve in southern Alberta. Oscar Cotton, chief of Blood Tribe Emergency Services, said the blaze broke out late Friday night in a forage-processing plant near Standoff. It continued…
Strong winds on Prairies knock out power and rip roof off polling station
October 13, 2015 by Canadian UnderwriterELIE, Man. – Howling winds that exceeded forecasts knocked out power across parts of the Prairies, and even ripped the roof off an advance polling station in Manitoba. The original wind warning for southern Saskatchewan on Sunday was wind at…
Federal investigator discusses Lac-Mgantic at Engineering Insurance Conference
October 9, 2015 Greg Meckbach, Associate EditorPollution problems resulting from the 2013 fatal railway derailment in Lac-Mégantic, Quebec will persist for years, while officials with the railway company involved were “not exactly leaders” in safety management, a Transportation Safety Board of Canada official suggested to insurance…
Three-quarters of recent car thefts in Manitoba involved the use of keys: Manitoba Public Insurance
October 9, 2015 by Canadian UnderwriterOf the 400 vehicles reported stolen to Manitoba Public Insurance (MPI) this past spring, 75% involved the use of keys, the Crown corporation reported recently. The percentage represents an 11% increase for key-related thefts compared to the spring of 2014,…
As dams bulge and rivers rise, South Carolina still on edge; 2 people die driving into water
October 8, 2015 Adam Beam and Meg Kinnard - THE ASSOCIATED PRESSCOLUMBIA, S.C. – It could take until the weekend for the threat of flooding to ease in storm-tattered South Carolina, where a senator warned of a potential billion-dollar cleanup bill, two more people died in the floodwaters and the flagship…
National economic losses from drought conditions in western Canada exceed US$1 billion: Impact Forecasting
October 8, 2015 by Canadian UnderwriterDrought conditions across western Canada during September were expected to cost the Alberta’s Agriculture Financial Services Corporation (AFSC) between $700 million and $900 million (US$525 million and US$675 million), according to Impact Forecasting, Aon Benfield’s catastrophe model development team. This…
Canadian Pacific ready to drop appeal in Lac-Mgantic case for legal protection
October 7, 2015 Giuseppe Valiante - THE CANADIAN PRESSMONTREAL – Canadian Pacific Railway is willing to drop its appeal of the $450-million settlement fund for victims of the Lac-Megantic tragedy if it is granted certain legal protections, lawyers said Tuesday. Lawyers for Montreal Maine and Atlantic Railway Ltd.…
Protection gap remains at an estimated US$1.3 trillion: Swiss Re
October 7, 2015 by Canadian UnderwriterDisaster risks are increasing, but insurance hasn’t kept pace as the estimated US$1.3 trillion gap between insured and total losses remains stubbornly large, said a new report from Swiss Re. Launched at the World Bank/IMF annual meetings in Lima, Peru,…
Insured damages from August B.C. storm estimated at over $25 million
October 6, 2015 by Canadian UnderwriterInsured damage arising from a windstorm Aug. 29 in British Columbia probably exceeded $25 million, Insurance Bureau of Canada suggested in a release Tuesday. Quoting from Toronto-based Catastrophe Indices and Quantification Inc., IBC said a preliminary estimate of insured damage…
South Carolina governor declares state of emergency after record rainfall
October 6, 2015 by Canadian UnderwriterSouth Carolina Governor Nikki Haley has declared a state of emergency for the state, as flash flood warnings were issued for Berkeley, Charleston and Dorchester in anticipation of rainfall between 10 and 15 inches. Much more rain than that already…