Canadian Underwriter

Keyword
earthquake


News CatastrophesClimate ChangeInsuranceMarkets / Coverages

Changing climate patterns, nat cats affecting electrical grid, Swiss Re and Johns Hopkins study finds

July 25, 2017 by Canadian Underwriter

Changing climate patterns are putting additional strain on both power generation and transmission, and presenting another risk factor for natural disaster mitigation and recovery in North America’s Pacific Northwest region, suggests a new study from Swiss Re and the Johns

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Possible melted fuel seen for first time at Fukushima plant

July 24, 2017 Mari Yamaguchi - THE ASSOCIATED PRESS

TOKYO – An underwater robot captured images of solidified lava-like rocks Friday inside a damaged reactor at Japan’s crippled Fukushima nuclear plant, spotting for the first time what is believed to be nuclear fuel that melted six years ago. Plant

News Catastrophes

Quake damages buildings on Greek island; 2 killed, 120 hurt

July 21, 2017 THE ASSOCIATED PRESS

KOS, Greece – A powerful earthquake shook the Greek island of Kos early Friday morning, damaging several buildings and the main port, killing at least two people and causing more than 120 injuries, authorities said. The 6.5-magnitude quake rattled Turkey’s

News CatastrophesConstructionEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsProductsReinsuranceTechnology

Stilling quake risk in eastern Canada demands greater focus, awareness and effort: Swiss Re

July 11, 2017 by Angela Stelmakowich

Risk awareness is severely lacking and not enough attention is being paid to quake risk in eastern Canada, a region with “huge” loss-inflicting potential that a Swiss Re model projects could produce the country’s largest nat-Cat loss ever if the

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesReinsuranceTechnology

New Zealand proposes shaking up earthquake commission scheme to smooth claims resolution

June 27, 2017 by Canadian Underwriter

New Zealand will continue to flesh out the details of proposed changes aimed at simplifying and improving the Earthquake Commission (EQC) scheme to help support more timely response to affected policyholders. Reforms to the Earthquake Commission Act seek to “simplify

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Cyclones Debbie, Cook in New Zealand combine to produce insured losses of NZ$84 million so far

June 19, 2017 by Canadian Underwriter

The two cyclones that pounded New Zealand in April have spurred insured costs of NZ$84 million to date, setting the stage for what could become one of the most damaging year in recent years and leading to wrong-headed government actions

News CatastrophesInsuranceMarkets / CoveragesProducts

RMS updates North America quake models for U.S., Canada and Mexico

June 9, 2017 by Canadian Underwriter

RMS’s latest North America earthquake models – covering the United States, Canada, and Mexico – are designed to help company clients manage their risk accumulations with more confidence and help with underwriting a better book of business. Version 17.0 benefits

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsTechnology

Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey

June 6, 2017 by Canadian Underwriter

Greater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review

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 CatastrophesConstructionInsuranceReinsurance

Insurance industry should look ahead to even larger losses than Fort McMurray, ICLR chair suggests

May 5, 2017 by Canadian Underwriter

The insurance industry should start thinking about what “could have been” if the Fort McMurray wildfire had been an even larger loss, the chair of Institute for Catastrophic Loss Reduction (ICLR) said on Friday at the institute’s annual general meeting.

News CatastrophesInsuranceTechnology

Mobile earthquake simulator to visit Quebec in May and June

May 3, 2017 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is inviting Quebecers to experience the Quake Cottage, a mobile earthquake simulator, this month and next. As part of its earthquake preparedness campaign, IBC will be touring Quebec cities and shopping centres from La

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Canada lacks ‘commercially widely available wildfire models,’ Aviva Canada reinsurance VP warns

May 2, 2017 Greg Meckbach, Associate Editor

Insurers have no “meaningful way of modelling wildfire” losses, a senior executive for Swiss Re Ltd. recently suggested to industry professionals. “If you look at it globally speaking, usually about half of the total insured losses globally are unmodelled perils,”