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Vancouver planning additional measures to combat damage, costs associated with sea level rise

October 31, 2016 by Canadian Underwriter

“Sitting on the sidelines is not an option while climate change threatens our future,” Vancouver Mayor Gregor Robertson emphasized last week in announcing the city’s next moves to prepare for sea level rise over the next century. “The massive costs

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Nearly 2 million homes in Florida, the Carolinas and Georgia at risk of storm surge damage from Hurricane Matthew: CoreLogic

October 6, 2016 by Canadian Underwriter

Nearly two million homes in Florida, North and South Carolina and Georgia are risk of storm surge damage from Hurricane Matthew as it makes its way toward the United States’ Atlantic Coast, according to new data from CoreLogic, Inc. On

News CatastrophesInsuranceMarkets / Coverages

Alberta emergency relief funding following wildfire to end this month

October 6, 2016 by Canadian Underwriter

The emergency payment program that has helped approximately 96,000 Wood Buffalo evacuees, forced from their homes in the wake of the massive Fort McMurray wildfire this past May, is ending Oct. 31. The program – which has provided wildfire relief

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Flash estimate for insured losses from Hurricane Hermine US$500 million: KCC

September 6, 2016 by Canadian Underwriter

The current flash estimate of insured losses associated with Hurricane Hermine – likely to produce in excess of 50,000 claims – approaches US$500 million, with total economic damages almost US$1 billion, Karen Clark & Company (KCC) reported Friday. “The storm

News CatastrophesConstructionInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Recent earthquakes a reminder that events can happen anywhere: I.I.I.

August 26, 2016 by Canadian Underwriter

The recent earthquakes in Italy and Myanmar are a warning to homeowners and business owners in regions that may also be at risk to consider purchasing earthquake insurance, notes the Insurance Information Institute (I.I.I.). Just 10% of homeowners in the U.S. have

News CatastrophesInsurance

[Updated]: Possible tornado in Windsor, Ont., area damages homes; 3 injured

August 25, 2016 The Canadian Press

WINDSOR, Ont. – More than a dozen homes were damaged and at least three people injured Wednesday evening amid multiple reports of a possible tornado touching down in southwestern Ontario. Environment Canada said an eyewitness saw a tornado near LaSalle,

Tornado storm sky
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Possible tornado touches down in Windsor area causing damage

August 24, 2016 The Canadian Press

WINDSOR, Ont. – Multiple reports of a possible tornado touching down in southwestern Ontario flooded social media as a wild storm passed through Wednesday evening. Video of the funnel cloud forming over LaSalle from @TheWindsorStar reader Katie Lynn Maheux #YQG

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Almost $65 million in insured damage from severe summer storm in Alberta, Saskatchewan

August 24, 2016 by Canadian Underwriter

A severe storm that swept through southern Alberta and Saskatchewan in the third week of July has prompted an insured damage estimate of almost $65 million, reports Insurance Bureau of Canada (IBC), based on figures provided by Catastrophe Indices and

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Impact of Fort Mac wildfire adds to Alberta’s economic challenges, increases deficit: province

August 24, 2016 by Angela Stelmakowich

Costs associated with the wildfire that ravaged parts of Alberta’s Wood Buffalo region this past May, coupled with the impact of ongoing low oil prices, has set the provincial government on a continuing cautious course to its finances. “In the

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Tornado shuts down Canadian company’s solar cell factory in China, no material impact anticipated

June 28, 2016 by Canadian Underwriter

Emergency team members have been dispatched to help employees and communities affected by the tornado that damaged and shut down Canadian Solar’s solar cell factory in China, although it is not anticipated the event will have a material impact on

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Voluntary evacuation of homes and cottages in southern Manitoba remains in effect following flooding, road washouts

June 28, 2016 by Canadian Underwriter

A voluntary evacuation of homes and cottages in southern Manitoba near the Ontario border remains in effect several days after a heavy rain event caused flooding and road washouts. Manitoba Sustainable Development (MSD) said in a press release on Monday

News InsuranceMergers and Aqcuisitions

Ironshore International releases political risk coverage for film producers

June 7, 2016 by Canadian Underwriter

Ironshore International has announced the availability of a political risk product to address the risk exposure of film production companies shooting in at-risk locations worldwide. The Political Risk film production specialty insurance product will be offered within the company’s War