Keyword
flooding
Hurricane Matthew causes up to US$15 billion impact to U.S. and Caribbean economies in October: Aon Benfield
November 9, 2016 by Canadian UnderwriterHurricane Matthew, which swept through parts of the Caribbean and United States last month, is expected to cost up to US$15 billion to both economies, according to Aon Benfield’s latest Global Catastrophe Recap. Released on Wednesday, the report from Aon…
Evacuation warning as rivers rise near Port Alberni, B.C.
November 8, 2016 The Canadian PressPORT ALBERNI, B.C. – The Tseshaht First Nation on central Vancouver Island says the Somass River rose rapidly Monday night and continues to swell today, threatening flooding in the community. Emergency Preparedness Co-ordinator Hugh Braker says residents have been warned…
IBC commends federal government’s focus on infrastructure and flood mitigation in 2016 fall economic statement
November 2, 2016 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is applauding the Government of Canada’s focus on infrastructure investments and flood mitigation in its recently released Fall Economic Statement 2016. In the statement, released on Tuesday, the federal government proposed $21.9 billion over…
Windsor floods spur insured damage of almost $108 million to date: IBC
November 2, 2016 by Canadian UnderwriterFlooding affecting the Windsor and Tecumseh areas in southwestern Ontario is estimated to have caused almost $108 million in insured damage as of Sept. 30, Insurance Bureau of Canada (IBC), citing figures from Catastrophe Indices and Quantification Inc., reported Wednesday.…
Barely passable grade on flood preparedness demands immediate action: report
October 31, 2016 by Canadian UnderwriterAll 10 Canadian provinces and Yukon are not making the grade when it comes to flood preparedness, signalling the need for change, including not allowing municipalities to override provincial or territorial direction on development in flood-prone areas, argues a new…
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 UnderwriterThe 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…
Estimated insured losses for U.S., Caribbean from Hurricane Matthew US$2.5 billion to US$8 billion: RMS
October 21, 2016 by Canadian UnderwriterRMS has estimated Hurricane Matthew will produce insured losses of US$1.5 billion to US$5 billion for the United States and US$1 billion to US$3 billion in the Caribbean, making it the reinsurance industry’s costliest Atlantic hurricane since Sandy four years…
Cleanup, damage assessment begins in Atlantic Canada after torrential rains
October 12, 2016 The Canadian PressSYDNEY, N.S. – Communities in Nova Scotia and Newfoundland are facing a costly and lengthy cleanup from widespread flooding damage after a storm brought torrential rain to the region over the long weekend. Premiers in both provinces were scheduled to…
B.C. government invests $2.5-million to address flood risk in Peace Region after June flooding
October 11, 2016 by Canadian UnderwriterAbout four months after a “substantive rainfall event” that lead to flooding in British Columbia’s Peace Region, the provincial government announced that it is providing $2.5 million to the Peace River Regional District (PRRD) to undertake debris removal and preventative…
Heavy rains and strong winds wreaking havoc in the Maritimes
October 11, 2016 The Canadian PressHALIFAX – Thousands of homes and businesses across Atlantic Canada were without electricity early Tuesday due to heavy rain and strong winds that lashed the region on Thanksgiving Monday. Environment Canada said much of mainland Nova Scotia had received more…
Insured losses in mainland China from Typhoon Meranti between US$650 million and US$1.15 billion: AIR
September 30, 2016 by Canadian UnderwriterCatastrophe modelling firm AIR Worldwide is estimating insured losses in mainland China from Typhoon Meranti earlier this month at between US$650 million and US$1.15 billion. Typhoon Meranti experienced rapid intensification on Sept. 11-12, with wind speed increasing more than 150…
Stalled weather system and remnants of tropical storm deluge roads, close schools in Virginia and North Carolina
September 22, 2016 The Associated PressNORFOLK, Va. – Flooding in coastal Virginia and North Carolina blocked roads and forced school closings Wednesday that affected for more than 100,000 students. A stalled weather system and the remnants of Tropical Storm Julia have brought days of rain…