Keyword
flood
Flood losses expected to dampen French, German insurers’ first-half earnings: A.M. Best
June 21, 2016 by Canadian UnderwriterFlood losses in the wake of storms Elvira and Friederike in late May and early June are not expected to result in ratings actions, but it is anticipated they will hit first-half results for French and German insurers, notes a…
200-year loss scenario from flood in Canada could produce insured losses of $5.7 billion: Swiss Re
June 15, 2016 by Canadian UnderwriterFlood is clearly the number one peril in Canada, with Swiss Re estimating that a “perfect storm” flood scenario would result in economic losses of $13.8 billion and insured losses of $5.7 billion. Developed using the company’s new probabilistic flood…
Swollen river feeds flooding near Houston as residents flee
May 31, 2016 John L. Mone - THE ASSOCIATED PRESSRICHMOND, Texas – Residents of some rural southeastern Texas counties were bracing for more flooding Tuesday along a river that had reached a record-high crest just two years after it had run dry in places because of drought. The National…
Floods in U.K. expected to produce repair bill of £1.3 billion, good progress on repairs to date
May 26, 2016 by Canadian UnderwriterThe average cost of a domestic claim for the floods caused by Storms Desmond, Eva and Frank – which hit the United Kingdom in December and early January – is higher than usual, with the Association of British Insurers (ABI)…
Houston, Texas airport has second wettest day on record: RMS
April 21, 2016 by Canadian UnderwriterWeather events this week in Texas may be producing “one of the most severe flood events” in history, in Houston, not caused by a tropical cyclone Risk Management Solutions Inc. stated Thursday. The Associated Press reported that the Houston area…
Work on refining IBC’s flood proposal continues, all properties must be covered under strategy: Forgeron
April 21, 2016 Angela Stelmakowich, EditorNo country offering flood protection has got things “100% right,” but Insurance Bureau of Canada (IBC) will continue to refine its proposal for a national flood strategy that ensures all areas, even high-risk areas, are covered and that works for…
More than half of all properties in New Orleans removed from special flood hazard areas
April 12, 2016 by Canadian UnderwriterDue to significant improvements in drainage and flood protection, more than 53% of all properties in New Orleans were removed from special flood hazard areas and, as a result, will benefit from more affordable flood insurance, the mayor of the…
Canada in better position than most to close protection gap, collaboration key: Scotti
April 6, 2016 by Angela Stelmakowich“Canada is in a better position than many other countries to actually close its protection gap,” Veronica Scotti, president and CEO of Swiss Re Canada, said Wednesday during Swiss Re’s Canadian Insurance Outlook in downtown Toronto. “Sometimes it takes an…
Healthy Brokerages
April 1, 2016 Greg Meckbach, Associate EditorVolunteering with industry associations is “about the health of the industry,” says Robyn Young, president of the Insurance Brokers Association of Alberta.
Prepare for Anything
April 1, 2016 Greg Meckbach, Associate Editor and Jason Contant, Online EditorCanadians are well-aware of events that can produce insured losses, including storms and cold weather. But the possible influence of other less-familiar perils, like earthquakes and cyber cats, should also be on the radar.
Overland flood coverage currently top product development priority: OMIA CEO
March 31, 2016 Angela Stelmakowich, EditorWith the increased risk appetite for new or expanded products among mutual insurers, overland flood coverage is the number one product development priority, John Taylor, president and CEO of the Ontario Mutual Insurance Association (OMIA), said Thursday during its Annual…
IBC, Tesera Systems announce transfer agreement for bureau’s Municipal Risk Assessment Tool
March 30, 2016 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has announced the intellectual property rights for its municipal risk assessment tool (MRAT) – a made-in-Canada solution to help communities be more resilient and adaptable to climate change – is being transferred to Tesera Systems…