Keyword
natural disaster
Flood Money
January 2, 2017 Greg Meckbach, Associate EditorWhile the federal government continues to “explore options” for a national approach to flood insurance, a major reinsurer warns coverage is unaffordable to many high-risk properties.
Vancouver planning additional measures to combat damage, costs associated with sea level rise
October 31, 2016 by Canadian Underwriter“Sitting on the sidelines is not an option while climate change threatens our future,” Vancouver Mayor Gregor Robertson emphasized last week in announcing the city’s next moves to prepare for sea level rise over the next century. “The massive costs…
Typhoons in September cost global economy more than US$4 billion: Aon
October 6, 2016 by Canadian UnderwriterTropical cyclones throughout the world in September have cost the global economy more than US$4 billion, according to the latest edition of Aon Benfield’s Global Catastrophe Recap report, released on Thursday. The Global Catastrophe Recap, from Impact Forecasting, Aon Benfield’s…
Changing climate is raising forest fire risk, says Natural Resources Canada annual report
September 28, 2016 Bruce Cheadle - THE CANADIAN PRESSOTTAWA – A new government report says that by the end of this century a changing climate is expected to at least double the area burned each year by forest fires in Canada. The 2015 annual forest assessment by Natural…
Change in exposure driving widening gap between insured, economic losses following disaster events
September 14, 2016 by Angela StelmakowichCALGARY – A dramatic loss scenario around disaster events is developing globally, contributing to a widening gap between insured and economic losses, Alex Kaplan, senior vice president of global partnerships for Swiss Re, suggested earlier this week during the RIMS…
Louisiana floods to cost U.S. economy between US$10-15 billion: Aon Benfield’s Impact Forecasting
September 8, 2016 by Canadian UnderwriterThe 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…
Louisiana flooding “one of the most significant” natural disasters since Superstorm Sandy, 40,000-60,000 properties affected: RMS
August 19, 2016 by Canadian UnderwriterFlooding 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…
Economical Insurance cites wildfire’s impact, net income drops to $17.1 million in 2016 Q2
August 8, 2016 by Canadian UnderwriterCanada’s worst-ever insured natural disaster – the Fort McMurray wildfire – delivered a hard hit to the underwriting activity of Economical Insurance, contributing to a net income in the second quarter of 2016 of about half the prior-year quarter. Economical…
Global economy suffers worst natural disaster losses in April in five years: Aon Benfield report
May 5, 2016 by Canadian UnderwriterThe global economy suffered the worst natural disaster losses in April in five years, according to Impact Forecasting’s Global Catastrophe Recap for the month. Between April 14 and 16, two major earthquakes struck Japan within 24 hours, causing massive devastation,…