Canadian Underwriter

Keyword
earthquake


News InsuranceLegislation / Regulation

PACICC to participate in federal government’s review of insolvency legislation next year

April 18, 2017 Jason Contant, Online Editor

The Property and Casualty Insurance Compensation Corporation (PACICC) will participate in the federal government’s review of financial sector regulations next year, including the examination of an act that has not “really been reviewed” in more than a century. The Winding-up

News AssociationsCatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron

April 7, 2017 by Angela Stelmakowich

When talk turns to the possibility of a major earthquake in Canada, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), advises that the response should be to prepare, not to panic. “No one should spend their day

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

More action needed to better prepare for earthquake in Canada: Scotti

April 6, 2017 by Angela Stelmakowich

Canada would be well-advised to take a cue from other nations and do more to establish partnerships and requirements that better protect property owners in the event of an earthquake, says Veronica Scotti, president and CEO of Swiss Re Canada.

News CatastrophesInsuranceMarkets / CoveragesTechnology

Government of British Columbia invests in tsunami, earthquake warning systems

March 28, 2017 by Canadian Underwriter

The government of British Columbia has announced $550,000 in funding for increased capability for tsunami warnings and the potential to provide earthquake early warnings. British Columbia’s Ministry of Transportation and Infrastructure said in a statement on Tuesday that the $550,000

News Insurance

Japanese court holds government, electrical utility liable for safety failures in 2011 tsunami

March 17, 2017 Mari Yamaguchi - THE ASSOCIATED PRESS

TOKYO – A court Friday held Japan’s government and a utility liable for neglecting tsunami safety measures at the Fukushima nuclear plant and ordered them to pay more money to dozens out of the thousands of people who fled radiation

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Study: California fault could cause magnitude 7.4 quake

March 8, 2017 The Associated Press

SAN DIEGO – An earthquake fault running from San Diego Bay to Los Angeles is capable of producing a magnitude-7.4 earthquake that could affect some of the region’s most densely populated areas, according to a study released Tuesday. The study

News CatastrophesInsuranceMergers and Aqcuisitions

Severe weather outbreaks in U.S. in February lead to billion-dollar payout for insurance industry: Aon Benfield

March 8, 2017 by Canadian Underwriter

Prolific severe weather outbreaks in the United States lead to an expected billion-dollar payout for the insurance industry as no fewer than five outbreaks of severe weather impacted portions of the country during February, according to Impact Forecasting’s latest Global

Feature CatastrophesMergers and Aqcuisitions

Split Personality

March 2, 2017 Angela Stelmakowich, Editor

Can earthquakes be damaging? Yes. Would a severe quake have an adverse impact on
government, the economy, home and business owners and Canada’s property and casualty insurance industry? Perhaps. So, has everyone taken steps to ensure they have coverage? No.

News Earnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

Canadian non-life insurance market poised for 2017 profit recovery: Fitch

January 25, 2017 by Canadian Underwriter

The Canadian non-life insurance industry is likely to return to an underwriting profit in 2017, according to Fitch Ratings’ new report on the Canadian non-life insurance market. Following a significant improvement in 2015 underwriting performance, the market in aggregate will

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Economic losses from nat cat events in 2016 total US$210 billion, the highest loss amount in four years: Aon Benfield

January 17, 2017 by Canadian Underwriter

Three hundred and fifteen natural catastrophe events in 2016 generated economic losses of US$210 billion, the highest loss amount in four years and 21% above the 16-average of US$174 billion, according to Aon Benfield’s 2016 Annual Global Climate and Catastrophe

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

2016 Q4 preliminary loss estimate for natural catastrophes US$245 million: XL Group

January 10, 2017 by Canadian Underwriter

XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

PERILS AG almost doubles initial property loss estimate for Central Italy earthquake

November 24, 2016 by Canadian Underwriter

PERILS AG’s second loss estimate for insured property loss associated with Central Italy’s earthquake in August has almost doubled from 34 million euros to 66 million euros. The third loss estimate for the quake is scheduled to be published Feb.