Keyword
flooding
Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR
August 9, 2017 by Canadian UnderwriterIn a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk…
Changing climate patterns, nat cats affecting electrical grid, Swiss Re and Johns Hopkins study finds
July 25, 2017 by Canadian UnderwriterChanging climate patterns are putting additional strain on both power generation and transmission, and presenting another risk factor for natural disaster mitigation and recovery in North America’s Pacific Northwest region, suggests a new study from Swiss Re and the Johns…
Estimated insured damage for June storm in central Alberta upwards of $30 million
July 17, 2017 by Canadian UnderwriterA severe storm that swept through central Alberta in the third week of June is estimated to have caused more than $30 million in insured damage, reports Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc.…
Maintaining wetlands could slash riverine flooding-related damage, local pilot project has national applicability: study
July 12, 2017 by Angela StelmakowichJust leaving current wetlands in their natural state could cause riverine flooding-related flood damage to plummet as much as 38% and should provide the impetus for communities to view natural infrastructure as a climate adaptation solution, notes a study from…
U.S. Geological Survey scientists to track effects of historic Lake Ontario flooding
July 7, 2017 by Canadian UnderwriterScientists with the U.S. Geological Survey (USGS) announced on Friday that they will be conducting field work to gather up-to-date information to help emergency managers track and respond to historic levels of flooding on Lake Ontario. The scientists will begin…
Intact Financial Corporation announces $105 million Cat loss for 2017 Q2
July 6, 2017 by Canadian UnderwriterIntact Financial Corporation’s (IFC) estimated catastrophe losses, net of reinsurance, for 2017 Q2 is about $105 million on a pre-tax basis, reports Canada’s largest provider of property and casualty. On an after-tax basis, the estimated loss amounts to $77 million…
It will ‘take until the end of the year’ for Lake Ontario water level to drop to average level: Toronto city staff
July 4, 2017 by Canadian UnderwriterThe water level of Lake Ontario at Toronto will not drop to its average level until the end of the year and frost this winter could “further exacerbate” infrastructure damage, though the exact cost of infrastructure damage has yet to…
IBC applauds Toronto port lands flood protection funding
June 30, 2017 by Canadian UnderwriterInvestments in flood mitigation will help make Toronto’s under-used Port Lands safer for mixed-use development, Insurance Bureau of Canada suggested Thursday in reaction to a June 28 announcement that the federal and provincial governments will contribute $1.185-billion towards a project…
Toronto mayor: Hidden flooding damage will cost millions to repair
June 29, 2017 The Canadian Press (CPSTF)Toronto’s mayor says the cost of fixing the damage done to the city’s shorelines and the Toronto Islands by high water levels on Lake Ontario this summer will run to many millions of dollars. But John Tory warns the full…
Officials say damaged rail line to Churchill, Man. could be fixed in two months
June 23, 2017 The Canadian Press (CPSTF)WINNIPEG – Indigenous and municipal leaders from northern Manitoba say a broken rail line to Churchill could be fixed in about two months if governments and the railway owner are willing to spend the money. Chief Betsy Kennedy of the…
High River finishes rebuilding but abandoned neighbourhood reminder of flood
June 19, 2017 Bill Graveland - THE CANADIAN PRESSHIGH RIVER, Alta. – Even as High River finishes rebuilding, an abandoned neighbourhood full of million-dollar homes is a stark reminder of devastating flooding four years ago. Floods in parts of southern Alberta in June 2013 caused billions of dollars…
Cyclones Debbie, Cook in New Zealand combine to produce insured losses of NZ$84 million so far
June 19, 2017 by Canadian UnderwriterThe two cyclones that pounded New Zealand in April have spurred insured costs of NZ$84 million to date, setting the stage for what could become one of the most damaging year in recent years and leading to wrong-headed government actions…