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Louisiana floods to cost U.S. economy between US$10-15 billion: Aon Benfield’s Impact Forecasting

September 8, 2016 by Canadian Underwriter

The recent flooding in Louisiana is expected to cost the economy of the United States between US$10 billion and US$15 billion, with public and private insured losses expected in the low-digit single billions, according to Aon Benfield’s latest Global Catastrophe

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Estimated $66 million in insured damage from severe summer storms in southern Prairies: IBC, CatIQ

September 8, 2016 by Canadian Underwriter

Recent severe storms that swept through the southern Prairies – producing heavy rainfall, large hail, high winds, tornadoes and extreme lightning – are estimated to result in insured damage topping $66 million. The damage estimate released by Insurance Bureau of

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Almost $65 million in insured damage from severe summer storm in Alberta, Saskatchewan

August 24, 2016 by Canadian Underwriter

A severe storm that swept through southern Alberta and Saskatchewan in the third week of July has prompted an insured damage estimate of almost $65 million, reports Insurance Bureau of Canada (IBC), based on figures provided by Catastrophe Indices and

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Total economic losses from disaster events in H1 2016 up 38% to US$71 billion, insurance industry covered 44%: Swiss Re

August 18, 2016 by Canadian Underwriter

Total economic losses from disaster events in the first half of the year rose by 38% to US$71 billion from the same time last year, primarily due to natural catastrophes, according to preliminary sigma estimates from Swiss Re. Of the

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Nearly $90 million in insured losses from Western Canada thunderstorm system: PCS

August 15, 2016 by Canadian Underwriter

Insured property damage from a thunderstorm system July 18-20 in Western Canada is pegged, in a preliminary estimate, at $89.06 million, Verisk Analytics Inc.’s Property Claims Services unit reported. “In Alberta, thunderstorms brought strong winds, heavy rain and hail primarily

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Tale of two summers: Farmers deal with drought in the east, rain on the prairies

August 11, 2016 Ian Bickis and Peter Goffin -THE CANADIAN PRESS

It’s a tale of two summers this year in Canada, with rain – and the lack of it – causing concerns about the state of the country’s crops. In Ontario, officials are forecasting a strong fruit harvest but add that

News CatastrophesInsuranceMergers and Aqcuisitions

Nearly 1,300 new hail claims created last week in Alberta, more than 3,000 waiting for an inspector: Agriculture Financial Services Corporation

August 11, 2016 by Canadian Underwriter

Alberta’s Agriculture Financial Services Corporation (AFSC) said on Wednesday 1,289 new hail claims were created last week, while 3,089 hail claims are currently waiting for an inspector. AFSC, the Crown corporation with a private sector board of directors that provides

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Severe summer storm in southern Ontario causes $30 million in insured damage: CatIQ

August 10, 2016 by Canadian Underwriter

A severe summer storm that swept through southern Ontario during the second week of July has resulted in more than $30 million in insured damages, according to Catastrophe Indices and Quantification Inc. (CatIQ). CatIQ, which delivers detailed analytical and meteorological

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Tornado causes damage on Manitoba reserve, but no injuries reported

August 9, 2016 The Canadian Press

WAYWAYSEECAPPO FIRST NATION, Man. – There were no reports of injuries but seven homes were damaged on a First Nation when a severe storm hit southern Manitoba on Monday. Environment Canada confirmed four tornadoes touched down in the region, including

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Worst flooding since 1998 leaves US$33 billion economic toll in China: Aon’s Impact Forecasting

August 4, 2016 by Canadian Underwriter

Flooding 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

News CatastrophesInsuranceMergers and Aqcuisitions

Alberta storm event in late June cost an estimated $70 million in insured property damage: PCS Canada

July 25, 2016 by Canadian Underwriter

A 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,

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Q2 catastrophe losses up 50.6% for Travelers after hail, wildfires

July 21, 2016 by Canadian Underwriter

The Travelers Companies Inc. reported Thursday its combined ratio deteriorated 2.3 points, it renewed July 1 a property catastrophe reinsurance contract for Canada covering losses between $200 and $600 million (plus 50% of losses over $100 million), and that it