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Louisiana flooding “one of the most significant” natural disasters since Superstorm Sandy, 40,000-60,000 properties affected: RMS

August 19, 2016 by Canadian Underwriter

Flooding in Louisiana is “one of the most significant U.S. natural disasters, let alone flood events, since Superstorm Sandy” in 2012, Risk Management Solutions, Inc. (RMS) said on Friday. Heavy rainfall since Friday, Aug. 12 has caused widespread riverine flooding

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Southern Louisiana flooding results in significant property damage: AIR Worldwide

August 16, 2016 by Canadian Underwriter

Extensive 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

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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 Underwriter

Recent 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

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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

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Direct economic impact of Fort McMurray wildfire expected to reach US$5 billion: Impact Forecasting

July 20, 2016 by Canadian Underwriter

The overall direct economic impact of the Fort McMurray wildfire is expected to approach US$5 billion once all attributable losses are realized, according to Impact Forecasting, Aon Benfield’s catastrophe model development centre of excellence. “The first half of 2016 ended

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Impact Forecasting launches new cat modelling platform, including new flood models for Canada

July 12, 2016 by Canadian Underwriter

Impact Forecasting announced on Tuesday that it has launched ELEMENTS 10, its complete catastrophe modelling platform, which includes new flood models for Canada. ELEMENTS 10 offers the ability to run insurers’ own or third-party model, plus access to new flood

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Global disasters in May, including Fort McMurray wildfire, leading to US$7 billion in claims: Aon Benfield

June 8, 2016 by Canadian Underwriter

Global disasters in May led to at least US$7 billion in claims, including anticipated insured losses in excess of US$3.1 billion from the Fort McMurray wildfire, according to Aon Benfield’s Global Catastrophe Recap for May. The Global Catastrophe Recap report,

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Catastrophic Fort McMurray wildfire shows need for fire resilience

May 6, 2016 by Canadian Underwriter

The devastating wildfire in and around Fort McMurray – an event that has been estimated could produce insured losses of as much as $9 billion, becoming the most cost disaster event ever in Canada – clearly illustrates the pressing need

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March storm in Ontario tops $25 million in insured damage: CatIQ estimate

April 20, 2016 by Canadian Underwriter

The cost of insured damage caused by the ice storm that swept through southern Ontario between March 23 and 26 is estimated at more than $25 million, according to preliminary estimates provided by Catastrophe Indices and Quantification Inc. (CatIQ). CatIQ

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Record rainfall in Texas prompts extensive flash flooding

April 19, 2016 by Canadian Underwriter

Record rainfall prompted extensive flash flooding across parts of Texas on Monday, closing schools and city offices and overtopping levees, Impact Forecasting said in an Aon Cat Alert. Impact Forecasting, Aon Benfield’s catastrophe model development team, said in the alert