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earthquake

News CatastrophesInsuranceMarkets / Coverages

Why insurers aren’t rushing to offer earthquake insurance in Quebec

February 4, 2018 by David Gambrill

Canadian insurers are not rushing in to correct a gap in earthquake coverage in eastern Canada right now, primarily because they have a lot of risk on their plates already, an industry representative told the C4 2018 conference in Ottawa

News InsuranceMarkets / Coverages

What if the Alaskan earthquake happened in Canada?

January 24, 2018 by Jason Contant

A recent earthquake off the coast of Alaska, which prompted a brief tsunami warning for British Columbia, resulted in no immediate reports of damage — but what if it did strike Canada’s westernmost province? A 2013 study by catastrophe modelling

News Insurance

Tsunami fears send people in B.C. to higher ground

January 23, 2018 Terri Theodore and Beth Leighton - THE CANADIAN PRESS

VANCOUVER – A tsunami warning issued for coastal British Columbia was cancelled Tuesday morning after people living along parts of the province’s coast evacuated to higher ground when a powerful earthquake struck off Alaska. Residents in some coastal communities were

News InsuranceMarkets / Coverages

Study defines link between fracking, earthquakes in northern Alberta

January 18, 2018 Bob Weber - THE CANADIAN PRESS

EDMONTON – Scientists have figured out how hydraulic fracking causes earthquakes in northern Alberta, but they have a way to go before they can use that knowledge to predict if it will cause temblors in other areas. “Right now, there

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Guess how much a magnitude-5.8 earthquake in eastern Canada could cost insurers?

January 15, 2018 Peter Rakobowchuk - THE CANADIAN PRESS

MONTREAL – While people in British Columbia are mindful of the fact they could eventually face some of the strongest earthquakes in the world, at least one study warns there’s a lack of awareness of the risk in Eastern Canada.

News ClaimsInsuranceMarkets / Coverages

Eastern Canadian earthquake risk a “huge opportunity” for industry

December 21, 2017 Greg Meckbach, Associate Editor

Complacency about real risks, such as an earthquake affecting Eastern Canada, present a “huge opportunity” for insurance providers to educate consumers, a former Economical Insurance CEO said Monday. “Human beings really don’t like thinking about the bad things that could

News CatastrophesInsuranceMarkets / Coverages

Powerful earthquake on Iran-Iraq border kills over 350

November 13, 2017 Nasser Karimi and Amir Vahdat - THE ASSOCIATED PRESS

TEHRAN, Iran – A powerful 7.3 magnitude earthquake near the Iraq-Iran border killed over 350 people across both countries, sent residents fleeing their homes into the night and was felt as far away as the Mediterranean coast, authorities said Monday.

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsuranceReinsurance

Cats a significant driver in Everest Re Group’s posting US$639.4 million net loss in 2017 Q3

October 31, 2017 by Canadian Underwriter

Losses from hurricanes Harvey, Irma, Maria (HIM) and the Mexico City earthquake contributed to Everest Re Group, Ltd. posting a US$639.4 million net loss for 2017 Q3 compared to net income of US$295.4 million for the prior-year quarter. For the

News CatastrophesClaimsEarnings / RatingsInsuranceReinsurance

Hurricanes expected to deliver 1.4 billion euro hit to Munich Re in third quarter, total tally estimated at 2.7 billion euros

October 26, 2017 by Canadian Underwriter

Exceptional major-loss expenditure related to hurricanes Harvey, Irma and Maria (HIM) are expected to result in Munich Re posting a loss of 1.4 billion euros in 2017 Q3, reducing the (re)insurer’s previously anticipated full-year profit. Emphasizing that current estimates “are

News AnnouncementsAssociationsCatastrophesInsurance

Record number of registrants in 2017 Great British Columbia ShakeOut earthquake drill: IBC

October 20, 2017 by Canadian Underwriter

Awareness of earthquake risk in British Columbia looks to be on the rise if registrants for the 2017 Great British Columbia ShakeOut, which reached record numbers this year, is any indicator. A record 886,000 British Columbians participated Thursday, joining millions

News AssociationsCatastrophesInsurance

Understanding of quake protective measures, insurance coverage faulty in Quebec: survey

October 19, 2017 by Canadian Underwriter

The lion’s share of polled Quebecers remain unprepared for an earthquake, with a mere 8% of respondents understanding the immediate protective measures that should be taken in the event of a quake, Insurance Bureau of Canada (IBC) reports. The concerning

News CatastrophesClaimsInsuranceReinsurance

Hurricanes to date a capital event for reinsurers, 2017 could be even more costly Cat year than 2005

October 16, 2017 by Canadian Underwriter

The above-average activity for the Atlantic hurricanes season so far – a season that is not yet done – is already a capital event for p&c reinsurers and the remainder plus wildfire activity likely only contributes to nervousness, S&P Global