With the recent wildfire in Fort McMurray, Alta. being the most expensive natural disaster in Canadian history and in the same province as Canada’s second most expensive catastrophe, officials from Insurance Bureau of Canada recently suggested that building codes and…
The recent wildfires in Alberta cost Aspen Insurance Holdings Ltd. roughly US$30 million, net of reinsurance and reinstatement premiums, the Hamilton, Bermuda-based carrier suggested in a press release Wednesday. Aspen’s initial estimate, of pre-tax losses, net of reinsurance and reinstatement…
Chubb Limited has estimated that natural catastrophe losses in the second quarter of 2016 cost the insurer US$390 million pre-tax, or US$315 million after tax. According to Chubb’s estimate, released on Tuesday, of the pre-tax total, US$320 million is from…
OTTAWA – The Bank of Canada is cutting its economic outlook for the year, saying the extensive damage from the Alberta wildfires will result in an economic contraction in the second quarter. The central bank’s forecast was released Wednesday along…
Total 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…
CALGARY – Oilsands producers are not expected to be among the recipients of a record insurance payout arising from the wildfire in Fort McMurray, Alta., in May even though some of them had to halt production for weeks at a…
The peat bogs of the world, once waterlogged repositories of dead moss, are being converted into fuel-packed fire hazards that can burn for months and generate deadly smoke, warns a researcher from McMaster University in Hamilton, Ont. New research from…
FORT MCMURRAY, Alta. – The man who led the fight against the wildfire that devastated parts of Fort McMurray in May is urging changes to the way homes are rebuilt to avoid similar destruction in the future. Fort McMurray fire…
TORONTO – Severe weather events like wildfires and floods are becoming more frequent and more difficult to predict, forcing architects and engineers to rethink how they design buildings, infrastructure and cities. Brock Schroeder, managing director of engineering firm Entuitive, says…
The province of Alberta has announced that a new first responder radio system will launch on July 1. The Alberta First Responders Radio Communications System (AFRRCS) will let first responders communicate with each other more effectively, Alberta Justice and Solicitor…
Alberta’s Ministry of Agriculture and Forestry has reported that it is reviewing its response to the Fort McMurray wildfire, which is being held, but estimated to cover nearly 590,000 hectares as of Wednesday afternoon. The review will look at the…
CALGARY – Analysts say lost oilsands production from the Fort McMurray wildfires could top 30 million barrels and cost the industry upwards of $1.4 billion. Some of the largest oilsands producers in the province were forced to shut down or…