Keyword
earthquake
B.C. earthquake warning technology ShakeAlarm goes global
September 28, 2016 by Canadian UnderwriterTwo Canadian companies have entered into a global preferred service provider agreement that will bring “affordable and reliable” British Columbia-developed earthquake early warning system (EEWS) technology to countries with high seismic risk that currently do not have proven systems in…
4.8 magnitude earthquake in Texas in 2012 triggered by wastewater injection, study confirms
September 26, 2016 by Canadian UnderwriterA 4.8 magnitude earthquake that “rattled residents” and damaged buildings in East Texas in 2012 was triggered by the injection of large volumes of wastewater from oil and gas activities into rocks deep beneath the surface, confirmed a new satellite…
Oklahoma experiences strongest earthquake in five years, officials probing possible connection with oil and gas activities
September 4, 2016 by Canadian UnderwriterThe governor of Oklahoma has declared a state of emergency for Pawnee County following a magnitude 5.6 earthquake that occurred early Saturday morning. The earthquake was felt in multiple states and was the strongest the state has experienced since November…
Italy prepares for reconstruction, starts post quake probe
September 2, 2016 Nicole Winfield - THE ASSOCIATED PRESSROME – Italy began looking to the future Wednesday a week after an earthquake flattened three towns, with Premier Matteo Renzi tapping a reconstruction czar to oversee the rebuilding and investigators acquiring the first documentation into the construction blamed for…
“Limited impact” expected for Italian insurers following earthquake: Fitch
August 29, 2016 by Canadian UnderwriterThe impact on Italian insurers from the earthquake that struck the central part of the country is likely to be limited, ratings firm Fitch Ratings said on Friday. Fitch Ratings estimates insured losses of 100 million to 200 million euros,…
Recent earthquakes a reminder that events can happen anywhere: I.I.I.
August 26, 2016 by Canadian UnderwriterThe 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…
Low-quality cement, inadequate supporting rods among issues in Italian region hit by earthquake: Aon
August 24, 2016 by Canadian UnderwriterThe region of Italy hit by an earthquake early Wednesday morning, which killed at least 65, has buildings with “inadequate supporting iron rods” and a “relatively low” penetration of earthquake insurance for residential property, Aon plc’s Impact Forecasting LLC subsidiary…
Italian rescuers pull victims out of rubble after 6.2 earthquake hits northeast of Rome
August 24, 2016 Paolo Santalucia And Nicole Winfield - THE ASSOCIATED PRESSAMATRICE, Italy – A strong earthquake rocked central Italy early Wednesday, collapsing homes on top of residents as they slept. At least 11 people were reported dead in two hard-hit towns where rescue crews raced to dig survivors out of…
RMS estimates potential 1-in-500 year catastrophe loss at 10 sea ports
August 8, 2016 by Canadian UnderwriterSix of the ten ports with the highest potential insured loss from natural catastrophes are on the United States gulf coast, Risk Management Solutions (RMS) Inc. said in a release Monday. Newark, Calif.-based RMS ranked the top 10 ports in…
“Entire new sponsors” will enter insurance linked securities market: Swiss Re
August 5, 2016 by Canadian UnderwriterThe total value of outstanding insurance-linked securities issuance dropped from $24 billion to $22.3 billion between Jan. 1 and June 30, Swiss Re Capital Markets Corp. said in a report released Thursday, observing that issuance “came to a screeching halt”…
Hannover Re sees dip in net income, lower gross written premiums for 2016 H1 compared to 2015 H1
August 4, 2016 by Canadian UnderwriterHannover Re saw net income fall 8.6% to 486.1 million euros for the first half of 2016 from 531.9 million euros in the prior-year half, but remains confident the company is on track to achieve its full-year target of at…
C.D. Howe Institute report calls for federal emergency backstop arrangement for earthquakes
August 3, 2016 by Canadian UnderwriterA former federal Superintendent of Financial Institutions is calling for a last-resort federal emergency backstop arrangement for P&C insurers to minimize the systemic financial impact resulting from a “catastrophic and likely uninsurable natural disaster,” such as earthquake. “A federal emergency…