Keyword
flooding
Southern Louisiana flooding results in significant property damage: AIR Worldwide
August 16, 2016 by Canadian UnderwriterExtensive precipitation-induced flooding in southern Louisiana, from west of Baton Rouge to Mississippi, has resulted in six deaths, tens of thousands of rescues and significant property damage, catastrophe modelling firm AIR Worldwide said in media advisory issued late Monday. AIR…
Louisiana, Mississippi flooding could exceed US$1.5 billion in economic damage, insured portion will be much less: Impact Forecasting
August 15, 2016 by Canadian UnderwriterRecent flooding across parts of Louisiana and southern Mississippi could approach or possibly exceed US$1.5 billion in economic damage, Impact Forecasting suggested in a cat alert issued on Sunday. “Based on the volume of river crest records that have been…
Worst flooding since 1998 leaves US$33 billion economic toll in China: Aon’s Impact Forecasting
August 4, 2016 by Canadian UnderwriterFlooding in China in July caused an estimated US$33 billion in economic losses, but claims payouts represented less than 2% of the cost, according to Impact Forecasting’s monthly Global Catastrophe Recap. The report from Impact Forecasting, Aon Benfield’s catastrophe model…
Rainfall that caused flooding subsides in Alberta region hit this spring by wildfire
August 2, 2016 by Canadian UnderwriterCrews for the Regional Municipality of Wood Buffalo removed numerous barricades erected after heavy rainfall caused flooding in the region that played unwelcome host to the devastating Fort McMurray wildfire this spring. “Following yesterday’s rainfall, ground support staff from Underground…
Challenging Climate
August 1, 2016 Thomas Coleman, Chief Research Officer; and Alex LaPlante, Research Associate, Global Risk InstituteThe world’s insurance industry is inherently susceptible to climate change-related risks. However, being so deeply integrated in society means insurers are well-positioned to promote global resilience to climate change through implementing related risk management and mitigation processes, as well as through continued international collaboration.
Alberta storm event in late June cost an estimated $70 million in insured property damage: PCS Canada
July 25, 2016 by Canadian UnderwriterA storm event with flooding, hail and wind from June 28 to June 30 in Alberta has cost an estimated $70,440,000 in insured property damage, according to a catastrophe bulletin from Property Claim Services (PCS) Canada. According to the bulletin,…
Flood recovery centres open in Estevan, Sask.
July 14, 2016 by Canadian UnderwriterThe government of Saskatchewan announced on Thursday that a temporary Provincial Disaster Assistance Program (PDAP) flood recovery centre will open in the city of Estevan to provide immediate support and advice to residents affected by recent severe weather and flooding.…
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 UnderwriterTotal 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…
SGI Canada assigning more adjusters to deal with Saskatchewan flooding claims following heavy rainfall
July 12, 2016 by Canadian UnderwriterSGI Canada will be assigning additional adjusters to Estevan, Saskatchewan – among the areas in the province hit by heavy rainfall that prompted localized flash flooding – to handle what is anticipated to be higher-than-normal claim volumes, the insurer reported…
No interruption in disaster financial assistance for B.C. flooding victims
July 8, 2016 by Canadian UnderwriterThose receiving payments for uninsurable disaster-related losses in the wake of the rain storm that washed across British Columbia’s Peace River Regional District in June, causing flooding, will not see any disruption should there be a postal strike. In collaboration…
Voluntary evacuation of homes and cottages in southern Manitoba remains in effect following flooding, road washouts
June 28, 2016 by Canadian UnderwriterA voluntary evacuation of homes and cottages in southern Manitoba near the Ontario border remains in effect several days after a heavy rain event caused flooding and road washouts. Manitoba Sustainable Development (MSD) said in a press release on Monday…
Latest estimate of insured losses from Eva-Frank flooding £538 million: PERILS AG
June 27, 2016 by Canadian UnderwriterPERILS AG Friday issued an estimate of £538 million for insured property market loss from flooding damage in the United Kingdom as a result of storms in late December and early January. Storms Eva and Frank hit the U.K. in…