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Nat-cats contribute to decrease in net income at SCOR for first three quarters of 2016 compared to prior-year period

October 27, 2016 by Canadian Underwriter

The Group net income for SCOR for the first nine months of 2016 took a hit, partly as a result of the impact of natural catastrophes, falling 11.0% to 438 million euros compared to 492 million euros for the first

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Large earthquakes more likely during periods of high tidal stress, study finds

September 14, 2016 by Canadian Underwriter

Large earthquakes are more probable during periods of high tidal stress, according to a study published in the journal Nature Geoscience earlier this week. The study Earthquake potential revealed by tidal influence on earthquake size-frequency statistics from researchers at the

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Drillers, regulators can lessen earthquakes likely caused by wastewater injection, new research reveals

August 29, 2016 by Canadian Underwriter

Actions taken by drillers and regulators can lessen risk in the case of earthquakes likely caused by the injection of industrial wastewater deep underground, according to new research from the U.S. Geological Survey (USGS) and the University of Colorado. While

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Cause of earthquakes that shook a New Brunswick village for months is a mystery

August 26, 2016 Kevin Bissett - THE CANADIAN PRESS

MCADAM, N.B. – The cause of more than 100 earthquakes that shook homes and rattled nerves in a New Brunswick village earlier this year may remain a mystery, says a seismologist. Stephen Halchuk at Earthquakes Canada said the kind of

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Concerns over fracking and earthquakes in B.C. disputed

August 16, 2016 by Canadian Underwriter

Senior officials with BC Hydro have “quietly feared for years that earthquakes triggered by natural gas industry fracking operations could damage its Peace River dams,” the Canadian Centre for Policy Alternatives (CCPA) has charged. In a statement posted to its

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Catastrophe bond issuance slowed during second quarter of 2016: Aon Securities

July 21, 2016 by Canadian Underwriter

Following a record breaking first quarter issuance of US$2.22 billion, catastrophe bond issuance for the second quarter of 2016 stood at US$800 across five transactions – a relatively low figure during a historically active quarter, Aon Securities said on Thursday.

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Total worldwide economic losses for first half of 2016 at US$70 billion, up US$11 billion from 2015 half-year totals: Munich Re

July 12, 2016 by Canadian Underwriter

Total worldwide economic losses for the first half of 2016 were US$70 billion, of which US$27 billion were insured, significantly higher than the first year losses of US$59 billion in 2015, of which US$19 billion were insured, Munich Re said

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$100 million cat bond issuance covers U.S. named storm, earthquake until June 1, 2017

July 11, 2016 by Canadian Underwriter

Laetere Re Ltd. has issued US$100 million worth of catastrophe bonds, covering certain named storms and earthquake in the United States, on behalf of three subsidiaries of United Insurance Holdings Corp. The issuance was announced July 7 by Swiss Re

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Earthquakes triggered by oil and gas activity have been happening in Texas since at least 1925, new study says

May 20, 2016 by Canadian Underwriter

Earthquakes triggered by oil and gas activity have been happening in Texas since at least 1925, and they have been widespread throughout the state ever since, according to a new historical review published online. A Historical Review of Induced Earthquakes

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Insured losses from Japan earthquakes in April could be between US$1.7 billion and US$2.9 billion

May 12, 2016 by Canadian Underwriter

Insured losses from the two earthquakes that struck Japan in April could be as high as US$1.7 billion to US$2.9 billion, with economic losses of US$5.5 billion to US$7.5 billion, industry experts suggested on Wednesday. Guy Carpenter & Company, a

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‘Fair amount of uncertainty’ of financial impact of Canadian earthquakes: OSFI deputy superintendent

April 14, 2016 Greg Meckbach, Associate Editor

The financial risk  from an earthquake in Quebec is “a lot bigger than maybe people think,” a Munich Re Canada executive suggested Wednesday, while the head of Aon Benfield Canada suggested Canadians on the west coast “may be” underinsured for

News CatastrophesInsuranceLegislation / Regulation

Fracking, not water disposal, behind earthquakes: study

March 29, 2016 Bob Weber - THE CANADIAN PRESS

EDMONTON – New research suggests that hydraulic fracking of oil and gas wells is behind earthquakes caused by humans in Western Canada. A study, published Tuesday by a group of top Canadian researchers, says problems in Alberta and British Columbia