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disaster

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Why your clients will buy insurance only after a disaster

February 12, 2019 by Jason Contant

Due to six decision biases, consumers will typically not protect themselves against low-probability, high-consequence events until it is too late, a keynote speaker said recently at the CatIQ Connect conference in Toronto. When consumers decide not to purchase insurance or

News Insurance

Integrating disaster risk, resilience into broader systems key to unlocking climate adaptation abilities

October 13, 2017 by Angela Stelmakowich

A systemic disconnect between material natural disaster risk, asset valuation and infrastructure investment demands that disaster risk and resilience be integrated into broader financial, accounting and reporting systems, David Greenall, senior director of sustainable business solutions for PwC Canada, told

News CatastrophesClaimsClimate ChangeInsuranceMergers and AqcuisitionsProfessional DevelopmentReinsuranceTechnology

Free online offering hopes to bolster catastrophe modelling understanding

September 5, 2017 by Canadian Underwriter

What has been described as the first free and neutral open online catastrophe modelling course was launched today to help those working in climate change and disaster loss mitigation, academia and insurance better understand the use of models in nat-Cat

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Insured losses from Harvey’s wind, storm surge as much as US$2.3 billion: AIR Worldwide

August 29, 2017 by Canadian Underwriter

Harvey-related winds and storm surge in Texas are expected to produce industry insured losses amounting to between US$1.2 billion and US$2.3 billion, AIR Worldwide reported Monday afternoon as flooding in southeastern Texas continued to strand residents and wreak havoc. Included

News CatastrophesInsuranceMergers and AqcuisitionsReinsuranceTechnology

Allianz Risk Transfer, Nephila Capital successfully pilot blockchain for Cat swap

June 14, 2017 by Canadian Underwriter

Allianz Risk Transfer AG (ART) and Nephila Capital Limited report successfully piloting the use of blockchain smart contract technology for transacting a natural catastrophe swap, an approach they suggest offers benefits for this and other types of insurance transactions. The

News AssociationsCatastrophesEarnings / RatingsInsuranceLegislation / RegulationMergers and AqcuisitionsReinsurance

Relying on government to solve “big shake” problem courts continued procrastination: Tannas

May 25, 2017 by Angela Stelmakowich

The potential for procrastination to address the consequences of a large earthquake in Canada are persistent and pervasive, demanding implementation of a tactical plan that could see “the issue dealt with, one way or another, in the next 12 months,”

News AssociationsCatastrophesClimate ChangeConstructionInsuranceMergers and AqcuisitionsReinsurance

Construction of mitigation infrastructure to protect against flood should be seen as nation-building projects: Australian insurers

April 12, 2017 by Canadian Underwriter

The Insurance Council of Australia (ICA) cited the Canadian government’s budget commitment to create a Disaster Mitigation and Adaptation Fund in a recommendation to its own federal government to treat the construction of mitigation infrastructure to protect flood-prone towns as

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsReinsurance

Global insured losses from disasters up 42%, economic losses almost double in 2016 over 2015: Swiss Re

March 28, 2017 by Canadian Underwriter

Both economic and insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012 – reversing a four-year downtrend – amounting to US$54 billion and US$175 billion, respectively, notes the latest sigma study from the Swiss

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsReinsurance

Risk management overhaul necessary for cities to become more resilient to catastrophic events: report

March 27, 2017 by Canadian Underwriter

Officials for cities, investors and insurers will increasingly need to “build resilience within and between infrastructure systems as a complementary approach to address infrastructure risk and uncertainty,” argues a new report from Lloyd’s and Arup. “While risk management remains a

News CatastrophesInsuranceMarkets / Coverages

Federal disaster mitigation funding “a leap forward”: ICLR

March 23, 2017 Angela Stelmakowich

The federal budget’s commitment to create a $2 billion Disaster Mitigation and Adaptation Fund demonstrates Ottawa’s increasing support for disaster risk reduction, suggests Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR). “For many years, the federal

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Record new Cat bond, ILS issuance in 2016 spurs highest-ever outstanding market size: Artemis.bm

January 3, 2017 by Canadian Underwriter

Catastrophe bonds and similarly structured insurance-linked securities (ILS) deals in 2016 propelled the market to record levels, with the approximately US$7 billion in new issuance resulting in an outstanding market size of US$26.82 billion at year-end, notes the latest edition

News AssociationsCatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Great British Columbia ShakeOut attracts record number of registrants

October 20, 2016 by Canadian Underwriter

The Great British Columbia ShakeOut is clearly gaining more traction, with a record 800,000 British Columbians registering for today’s “Drop, Cover and Hold On” drill, joining almost 41.5 million others around the world. “This year, we saw the largest number