Keyword
flood
Southern Alberta town ravaged by 2013 flood sees development as promising sign
June 8, 2017 The Canadian PressHIGH RIVER, Alta. – A new housing and retail development in High River, Alta., is being hailed as proof of renewed confidence in the town’s ability to handle another flood event. Massive floods that raged through southern Alberta in the…
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…
Reinsurance Association of America calls for increased competition in U.S. flood insurance
June 1, 2017 by Canadian UnderwriterThe Reinsurance Association of America is calling on the U.S. government to encourage private-sector insurers to compete with the National Flood Insurance Program, which is scheduled to expire Sept. 30. NFIP was created in 1968. A property cannot qualify for…
High lakes, variable weather, mean no foreseeable end to Okanagan flood: district
May 30, 2017 The Canadian PressKELOWNA, B.C. – Officials with the City of Kelowna say gusty winds are the latest threat that could add to flooding woes in the Central Okanagan. City spokesman Tom Wilson says winds of up to 25 kilometres per hour are…
Government of Alberta invests in debris dam to protect homes, businesses and infrastructure in Canmore
May 29, 2017 by Canadian UnderwriterThe Government of Alberta announced on Friday that it is investing an additional $10.3 million to protect homes, businesses and infrastructure in Canmore. The money represents the final funding towards a $48.6-million debris dam at Cougar Creek and is part…
More data-based use cases likely offers greater shot at success for insurers exploring connected insurance: expert
May 24, 2017 by Canadian UnderwriterThe greatest value to insurance industry players and their customers will likely not be realized without expanding the number of data-based use cases, Matteo Carbone, founder and director of the Connected Insurance Observatory, recently suggested. “Connected insurance is about gathering…
Residents airlifted out as rising Churchill River threatens Labrador town
May 17, 2017 The Canadian PressHAPPY VALLEY-GOOSE BAY, N.L. – Police in Labrador say residents of a small community surrounded by water are being evacuated as an ice jam causes a river to swell and flood the area. RCMP Cpl. Rick Mills says the air…
Threats of cyberattacks, natural disasters and supply chain failure most pressing global business performance risks: FM Global
May 11, 2017 by Canadian UnderwriterCyberattacks, natural disasters and supply chain failure are three of the most pressing risks to global business performance in the 21st century, according to the 2017 FM Global Resilience Index. The online, interactive annual index ranks 130 countries and territories…
No public-private flood coverage model a ‘lift and shift directly to Canada:’ Aviva Canada reinsurance VP
April 28, 2017 Greg Meckbach, Associate EditorBritain’s Flood Re program provides an “analogy for Canada” in insuring high-risk flood zones, while more research is needed to fully understand the economic impact of climate change, speakers suggested at Insurance Bureau of Canada’s recent Financial Affairs Symposium. Balz…
Damage to reputation/brand gets social, cyber jumps higher on risk list: Aon survey
April 24, 2017 by Angela StelmakowichPHILADELPHIA – Social media is amplifying the impact of the top-ranked risk for businesses – damage to reputation and brand – while cyber risk has fully entrenched itself in the Top 10, becoming the number one risk for respondents in…
Swiss Re losses from Cyclone Debbie currently estimated at US$350 million
April 13, 2017 by Canadian UnderwriterSwiss Re currently estimates its claims burden from tropical cyclone Debbie in Australia at about US$350 million, net of retrocession and before tax, while the total insured market losses associated with the event is estimated at around US$1.3 billion. The…
Government of Alberta boosts Calgary’s flood resilience with $13.4 million investment
April 12, 2017 by Canadian UnderwriterThe Government of Alberta announced on Wednesday that it is investing about $13.4 million to help the City of Calgary boost its flood readiness. Six provincial grants are part of $63 million earmarked in Budget 2017 to help Alberta communities…