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earthquake


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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

News CatastrophesConstructionInsuranceMarkets / Coverages

B.C. researchers develop “earthquake-resistant” concrete

October 10, 2017 The Canadian Press (CPSTF)

VANCOUVER – Researchers in British Columbia have developed a spray-on concrete they say will protect schools from even the strongest earthquakes and cut the cost of seismic retrofits in half. The new material will be used in the next few

News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Mexico earthquake and three hurricanes could cost the industry US$95 billion: SCOR

October 10, 2017 by Canadian Underwriter

Catastrophe losses “should reach” US$95 billion, for the private insurance market, from three recent North Atlantic hurricanes and the earthquake in Mexico, SCOR SE suggested Monday. That figure is the “total private insured market loss for the combined Harvey-Irma-Maria hurricanes

News CatastrophesClaimsInsuranceMergers and AqcuisitionsReinsurance

Insured losses from latest Mexico earthquake not expected to exceed US$1.2 billion: RMS

September 25, 2017 by Canadian Underwriter

Low insurance penetration rates across Mexico, particularly in residential lines, has prompted RMS to issue a preliminary estimate that insured losses from the Puebla earthquake in central Mexico on Sept. 19 will not exceed US$1.2 billion. “This estimate accounts for

News CatastrophesClaimsInsuranceMergers and Aqcuisitions

Rescuers dig through collapsed buildings as Mexico quake kills 225

September 20, 2017 Christopher Sherman, Peter Orsi and Mark Stevenson - THE ASSOCIATED PRESS

MEXICO CITY – Rescuers said Wednesday they have found a surviving child in the ruins of a school that collapsed in Mexico’s magnitude 7.1 earthquake, one of many efforts across the city to save people trapped in under schools, homes

News CatastrophesClaimsConstructionInsuranceMergers and Aqcuisitions

Death toll rises to 35 from powerful, magnitude 8.1 earthquake in Mexico

September 8, 2017 Mark Stevenson - THE ASSOCIATED PRESS

MEXICO CITY – One of the most powerful earthquakes ever recorded in Mexico struck off the country’s southern coast, toppling hundreds of buildings, triggering tsunami evacuations and sending panicked people fleeing into the streets in the middle of the night.