Keyword
earthquake
RMS updates North America quake models for U.S., Canada and Mexico
June 9, 2017 by Canadian UnderwriterRMS’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…
Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey
June 6, 2017 by Canadian UnderwriterGreater 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…
Relying on government to solve “big shake” problem courts continued procrastination: Tannas
May 25, 2017 by Angela StelmakowichThe 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,”…
Insurance industry should look ahead to even larger losses than Fort McMurray, ICLR chair suggests
May 5, 2017 by Canadian UnderwriterThe 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.…
Mobile earthquake simulator to visit Quebec in May and June
May 3, 2017 by Canadian UnderwriterThe 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…
Canada lacks ‘commercially widely available wildfire models,’ Aviva Canada reinsurance VP warns
May 2, 2017 Greg Meckbach, Associate EditorInsurers 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,”…
PACICC to participate in federal government’s review of insolvency legislation next year
April 18, 2017 Jason Contant, Online EditorThe 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…
Preparation, not panic, is the way to address earthquake risk: IBC’s Don Forgeron
April 7, 2017 by Angela StelmakowichWhen 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…
More action needed to better prepare for earthquake in Canada: Scotti
April 6, 2017 by Angela StelmakowichCanada 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.…
Government of British Columbia invests in tsunami, earthquake warning systems
March 28, 2017 by Canadian UnderwriterThe 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…
Japanese court holds government, electrical utility liable for safety failures in 2011 tsunami
March 17, 2017 Mari Yamaguchi - THE ASSOCIATED PRESSTOKYO – 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…
Study: California fault could cause magnitude 7.4 quake
March 8, 2017 The Associated PressSAN 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…