Canadian Underwriter

Keyword
earthquake


News CatastrophesInsuranceMergers and Aqcuisitions

Earthquake could impact northern and southern California simultaneously, doubling previous residential property damage estimate: CoreLogic

November 15, 2016 by Canadian Underwriter

A large earthquake along the San Andreas fault impacting both northern and southern California simultaneously – once considered impossible – could cause up to 126% more residential property damage than previously thought, according to a new data analysis from CoreLogic,

News CatastrophesInsuranceMarkets / Coverages

At least two dead in 7.8-magnitude New Zealand quake, widespread damage reported

November 14, 2016 by Canadian Underwriter

A powerful magnitude-7.8 earthquake and several large aftershocks struck New Zealand’s South Island in the early morning hours of Monday local time, killing at least two people and injuring several others, Impact Forecasting has reported. The U.S. Geological Survey (USGS)-registered

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Insurance rates decrease continued to moderate for third quarter in a row: Marsh

November 11, 2016 by Canadian Underwriter

The third quarter of 2016 marked the third consecutive quarter that the rate of decline for global insurance rates has moderated by weighted average, Marsh notes in its newly released Global Insurance Market Index Q3 – 2016. Pointing out that

News CatastrophesConstructionInsuranceLegislation / RegulationMarkets / Coverages

Regulators: Close more disposal wells after Oklahoma quake

November 9, 2016 The Associated Press

OKLAHOMA CITY – Oklahoma regulators are ordering the shutdown of more disposal wells and restricting the volume of others near where a magnitude 5.0 earthquake struck. The plan released Tuesday by the Oklahoma Corporation Commission’s Oil and Gas Division requires

News CatastrophesInsuranceMergers and Aqcuisitions

New Zealand insurers settle NZ$19 billion Canterbury claims

November 2, 2016 by Canadian Underwriter

Private insurers in New Zealand have paid out almost NZ$19 billion to settle commercial and residential claims since the Canterbury earthquakes in 2010 and 2011, the Insurance Council of New Zealand (ICNZ) announced Tuesday. Of that total, almost NZ$9 billion

Feature Catastrophes

Quake Stakes

November 1, 2016 Angela Stelmakowich, Editor

It may be time to consider not only the unthinkable, but the uninsurable, when it comes to natural disasters. A large earthquake could be a solid candidate for such a scenario, demanding measures that give property and casualty insurers a fighting chance against insolvency.

News CatastrophesMergers and Aqcuisitions

More than 15,000 Italians displaced by 6.6 earthquake

October 31, 2016 Carlo Piovano And Colleen Barry - THE ASSOCIATED PRESS

NORCIA, Italy – Italy’s premier pledged Monday to find temporary housing for all those displaced by a series of powerful earthquakes in a central mountainous region, as the nation’s strongest temblor in 36 years pushed those needing assistance to more

News CatastrophesLegislation / RegulationMergers and AqcuisitionsReinsurance

5.1 earthquake likely caused by wastewater disposal: U.S. Geological Survey

October 24, 2016 by Canadian Underwriter

FAIRVIEW, Okla. – The third-largest earthquake in Oklahoma was likely triggered by underground disposal of wastewater from oil and natural gas production, the United States Geological Survey found in a report issued Monday. The magnitude 5.1 quake that struck northwest

News AssociationsCatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Great British Columbia ShakeOut attracts record number of registrants

October 20, 2016 by Canadian Underwriter

The Great British Columbia ShakeOut is clearly gaining more traction, with a record 800,000 British Columbians registering for today’s “Drop, Cover and Hold On” drill, joining almost 41.5 million others around the world. “This year, we saw the largest number

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Cat bond issuance so far in 2016 down 15% compared to same period in 2015, Fort Mac reviving talk about unmodelled risks: PCS

October 5, 2016 by Canadian Underwriter

Year-to-date Cat bond issuance was down more than 15% compared to the prior-year period as a result of a usually light third quarter and a less usual quiet second quarter, notes a new report from Property Claim Services (PCS). The

Feature CatastrophesInsuranceMergers and Aqcuisitions

Quake Coverage

October 4, 2016 Ted Harman, President, Accent Insurance Solutions

Brokers in Quebec should offer earthquake coverage on every new policy sold and carefully document customers’ refusals to purchase such coverage.

News CatastrophesInsuranceMarkets / Coverages

Balance crucial for capital requirements on earthquake, OSFI superintendent Rudin says at NICC

September 30, 2016 Angela Stelmakowich, Editor

VANCOUVER – Capital requirements could always be increased to cover an extreme event, such as a huge earthquake in British Columbia, but a balance must be struck, Jeremy Rudin, superintendent of the Office of the Superintendent of Financial Institutions (OSFI),