Canadian Underwriter

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flooding


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Intact Financial Corporation announces $105 million Cat loss for 2017 Q2

July 6, 2017 by Canadian Underwriter

Intact 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

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

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 Underwriter

The 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

News CatastrophesConstructionInsurance

IBC applauds Toronto port lands flood protection funding

June 30, 2017 by Canadian Underwriter

Investments 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

News CatastrophesConstructionInsuranceMarkets / CoveragesMergers and Aqcuisitions

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

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

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

News CatastrophesConstructionInsurance

High River finishes rebuilding but abandoned neighbourhood reminder of flood

June 19, 2017 Bill Graveland - THE CANADIAN PRESS

HIGH 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

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Cyclones Debbie, Cook in New Zealand combine to produce insured losses of NZ$84 million so far

June 19, 2017 by Canadian Underwriter

The 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

News CatastrophesInsuranceMergers and Aqcuisitions

Quebec homeowners face potential post-flooding woes: mosquitoes, critters, parasites

June 12, 2017 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – Even as swollen rivers have receded in Quebec, some experts suggest historic flooding this year could mean critter and pest-related woes in months and years to come. For now, heavy water accumulation has created standing pools of water

News CatastrophesInsuranceMergers and Aqcuisitions

Remote Manitoba town reports temporary loss of rail line

June 9, 2017 by Canadian Underwriter

The Town of Churchill in Manitoba is reporting the “temporary loss of its rail line” into the community from recent flooding. According to a statement from the town released earlier this week, “unprecedented” snowfall in March that resulted in over

News CatastrophesInsuranceMergers and Aqcuisitions

B.C.’s River Forecast Centre issues high streamflow advisory, but flooding fears beginning to ease

June 8, 2017 by Canadian Underwriter

British Columbia’s River Forecast Centre (RFC) has issued a “high streamflow advisory” for the province’s South Peace region and surrounding areas. Issued at noon on Thursday, the advisory includes South Peace region and surrounding areas, including Pine Pass and tributaries

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

May storms in Ontario, Quebec and the Maritimes caused hundreds of millions in damage and damaged more than 5,200 homes: Aon Benfield

June 8, 2017 by Canadian Underwriter

Several low pressure systems that brought heavy rainfall to portions of Ontario, Quebec and the Maritimes last month caused “hundreds of millions” in U.S. dollars and damaged more than 5,200 homes, according to Impact Forecasting’s latest Global Catastrophe Recap for

News Climate ChangeConstructionInsuranceMarkets / CoveragesMergers and Aqcuisitions

Climate change raises new risk: Are inland bridges too low?

June 6, 2017 Scott McFetridge - THE ASSOCIATED PRESS

DES MOINES, Iowa – A century-old train trestle stands as one of the trophies of Des Moines’ push to spruce up its downtown. Bicyclists and pedestrians pose for pictures beside the brightly painted beams of the Red Bridge and gather