Two storms this summer across Saskatchewan and Alberta caused a total of $120 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Severe storms beginning Aug. 31 brought flash flooding and large hail that…
A massive hailstorm that hit Calgary on July 2 caused $247 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Hail, rain and wind damage from the severe storm resulted in extensive flooding of…
Two hailstorms in late July have resulted in about 2,500 property and auto claims to date, a spokesman for Saskatchewan Government Insurance (SGI) told Canadian Underwriter Tuesday. The storms ripped through Saskatchewan on July 22-23 and July 27-28. The larger…
After going through a wildfire and multiple flooding events over the last few years, it’s reasonable to believe that businesses are re-thinking about being in Fort McMurray, Alta., says a Canadian P&C insurance executive. The executive’s comment applies to more…
Canada’s costliest-ever hailstorm contributed to the largest insured losses in North America since the first half of 2011, according to preliminary natural catastrophe estimates from Swiss Re. The hailstorm that struck Calgary in June cost the industry $1.2 billion based…
Aviva Canada and Hail Storm Products have teamed up, with the insurance company announcing on Tuesday that customers can now take advantage of an exclusive 20% discount on the Hail Protector Automobile Hail Protection System. “As the world’s only patented…
Hamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a combined ratio of 93.8% for the third quarter of 2016, up slightly from 93.4% in the third quarter of 2015. Aspen Insurance released its financial results on Wednesday, reporting a net…
Year-to-date Cat bond issuance was down more than 15% compared to the prior-year period as a result of a usually light third quarter and a less usual quiet second quarter, notes a new report from Property Claim Services (PCS). The…
A late July hailstorm that pelted the Colorado Springs area with golf- and tennis ball-sized hail cost an estimated US$352.8 million in insured losses, according to the non-profit Rocky Mountain Insurance Information Association (RMIIA), an organization affiliated with the Insurance…
CALGARY – “Hailstorm Alley” can be a very unforgiving place. The area – which runs from High River, just south of Calgary and north to central Alberta – hosts more than 40 hail storms every summer causing hundreds of millions…
XL Group plc’s preliminary net loss estimate relating to natural catastrophes – including the largest single loss from the Alberta wildfires – is US$240 million for the second quarter of 2016, the company announced Wednesday. This estimate – pretax and…
The Travelers Companies Inc. reported catastrophe losses of $318 million during the three months ending March 31, up 96% from $162 million during the same period in 2015, while Q1 earned premiums in personal insurance rose 6.2% year-over year. All…