Keyword
earthquakes
PERILS discloses second property loss estimate of 234 million euros for extratropical cyclone Egon
April 12, 2017 by Canadian UnderwriterPERILS AG has disclosed its second loss estimate of 234 million euros for extratropical cyclone Egon, which affected France and Germany on Jan. 12 and 13 of this year. The cold front associated with Egon resulted in heavy rain and…
Global insured losses from disasters up 42%, economic losses almost double in 2016 over 2015: Swiss Re
March 28, 2017 by Canadian UnderwriterBoth economic and insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012 – reversing a four-year downtrend – amounting to US$54 billion and US$175 billion, respectively, notes the latest sigma study from the Swiss…
Largest single loss for Hannover Re in 2016 was the Fort McMurray wildfire, with net cost of 127.9 million euros
March 10, 2017 by Canadian UnderwriterThe largest single loss for Hannover Re last year was the Fort McMurray wildfire, with a “net strain” of 127.9 million euros, the reinsurer reported on Thursday. Hannover Re released its financial results on Thursday, reporting a Group net income…
Series of October earthquakes in Italy spur 125 million euro loss estimate: PERILS
January 27, 2017 by Canadian UnderwriterThe series of earthquakes that hit central Italy in late October last year has prompted a property insurance market loss estimate of 125 million euros, PERILS AG reports. The quakes had on impact on the regions of Lazio, Marche and…
Joy erupts as Italian rescuers pull out avalanche survivors
January 20, 2017 Paolo Santalucia and Gregorio Borgia - THE ASSOCIATED PRESSFARINDOLA, Italy – With cheers of joy, rescue crews pulled survivors from the debris of an avalanche-crushed hotel in central Italy on Friday, an incredible discovery that boosted spirits two days after the massive snow slide buried around 30 people…
Research on earthquakes, tsunamis and climate change to benefit from federal investment of $46.6 million to Ocean Networks Canada
January 10, 2017 by Canadian UnderwriterThe federal government has provided a five-year $46.6 million investment to the University of Victoria’s (UVic) Ocean Networks Canada (ONC) to support its continued research and development. ONC pioneers ocean observatories that stream live data 24/7 to researchers across Canada…
2016 costliest 12 months for natural catastrophes in the last four years: Munich Re
January 4, 2017 by Canadian UnderwriterThe US$175 billion in natural catastrophes losses in 2016 – the lion’s share of which were uninsured – dwarfed those in the previous year and were just shy of 2012’s US$180 billion total, Munich Re reports. The research released Wednesday…
Oklahoma warns of more quakes from energy drilling
December 21, 2016 Tim Talley - THE ASSOCIATED PRESSOKLAHOMA CITY – Oklahoma regulators said Tuesday that the number of induced earthquakes could increase as oil and gas production expands in a broad area of the state, and they’re telling energy companies that they need to be ready to…
Total economic losses from nat, man-made disasters in 2016 at least US$158 billion: Swiss Re sigma estimate
December 15, 2016 by Canadian UnderwriterTotal economic losses from natural and man-made disasters in 2016 were at least US$158 billion, 68% higher than the US$94 billion losses in 2015, according to preliminary Swiss Re sigma estimates released on Thursday. The US$158 billion estimate in total…
After new energy regulations, Oklahoma’s earthquake rate drops
November 30, 2016 Seth Borenstein - THE ASSOCIATED PRESSWASHINGTON – The rate of earthquakes in Oklahoma has dropped dramatically since late May, when the state limited wastewater injections into energy wells, an Associated Press statistical analysis shows. And a new scientific study says the state is on its…
Powerful aftershocks, some as high as magnitude-6.5, strike New Zealand after original M7.8 earthquake: AIR
November 15, 2016 by Canadian UnderwriterPowerful aftershocks have shaken New Zealand since a magnitude-7.8 earthquake struck South Island near Hanmer Springs at 12:02 a.m. local time on Nov. 14, some as strong as magnitude-6.5, AIR Worldwide said on Monday. Although damage has been relatively light,…
Officials in quake ridden central Italy assess damage
October 28, 2016 Alessandra Tarantino and Colleen Barry - THE ASSOCIATED PRESSVISSO, Italy – Officials in central Italy began early Thursday to assess the damage caused by a pair of strong earthquakes in the same region of central Italy hit by a deadly quake in August, as an appeal went out…