Canadian Underwriter

Keyword
earthquake


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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,”

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