Keyword
property damage
More drone activity anticipated, safety-first approach essential: SCOR newsletter
June 9, 2017 by Canadian UnderwriterAn agile and flexible response by all parties is needed in light of the new and little-understood risks expected to emerge with the anticipated increase in drone activity over the next few years, SCOR experts write in a recent technical…
B.C.’s River Forecast Centre issues high streamflow advisory, but flooding fears beginning to ease
June 8, 2017 by Canadian UnderwriterBritish Columbia’s River Forecast Centre (RFC) has issued a “high streamflow advisory” for the province’s South Peace region and surrounding areas. Issued at noon on Thursday, the advisory includes South Peace region and surrounding areas, including Pine Pass and tributaries…
May storms in Ontario, Quebec and the Maritimes caused hundreds of millions in damage and damaged more than 5,200 homes: Aon Benfield
June 8, 2017 by Canadian UnderwriterSeveral low pressure systems that brought heavy rainfall to portions of Ontario, Quebec and the Maritimes last month caused “hundreds of millions” in U.S. dollars and damaged more than 5,200 homes, according to Impact Forecasting’s latest Global Catastrophe Recap for…
IBC, Edmonton Police Service and RCMP join forces on campaign about rising auto theft rates in Edmonton
May 19, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC), Edmonton Police Service (EPS) and the RCMP are partnering to launch an educational campaign on rising auto theft rates in Edmonton. The campaign, titled Lock Out Auto Theft, consists of a website, social media…
March windstorm in eastern Newfoundland caused close to $45 million in insured damage: CatIQ
April 26, 2017 by Canadian UnderwriterA windstorm in eastern Newfoundland on March 11 has resulted in nearly $45 in insured damages, according to Catastrophe Indices and Quantification Inc. (CatIQ). The Insurance Bureau of Canada (IBC) explained in a press release on Wednesday that a low…
Known, hidden risks in supply chains demand an overall strategy for evaluating and mitigating risk: QBE
April 26, 2017 Angela StelmakowichPHILADELPHIA – The multitude and variety of risks are becoming more predictable, indicating multinational and domestic companies can benefit from taking a look at how global interdependence affects each link of their supply chain, says Jamie Luce, senior vice president,…
44% of The Co-operators’ claims and benefits in 2016 were for property damage, the company’s inaugural integrated report says
April 4, 2017 by Canadian UnderwriterGuelph, Ont.-based The Co-operators has released its inaugural 2016 Integrated Annual Report, reporting that more than four in ten claims and benefits paid in 2016 were for property damage. The Co-operators released the report on Tuesday, joining “a handful of…
Toronto city managers authorized to negotiate $10.9-million agreement with ClaimsPro
March 29, 2017 by Canadian UnderwriterToronto City Council voted Tuesday to authorize staff to enter into a three agreement with ClaimsPro LLP to provide adjusting services to the city. ClaimsPro, owned by SCM Insurance Services Inc., was one of four adjusting firms to respond in…
Fire at historic church just outside Halifax a ‘devastating’ blow: member
March 22, 2017 The Canadian PressNORTH PRESTON, N.S. – Fire has caused extensive damage to a large, historic church considered the cornerstone of a small community just east of Halifax. Firefighters from five stations were called Wednesday at 9:30 a.m. to extinguish a stubborn blaze…
Ironshore Specialty Casualty construction cover now addresses M&A transition exposures
March 10, 2017 by Canadian UnderwriterBermuda-based Ironshore Specialty Casualty has enhanced its Transition Protection policy form to address contractual exposures associated with an organizational merger or acquisition (M&A) specific to the construction industry. Construction companies typically have contractual requirements to obtain insurance coverage for work…
Outbreak of severe convective storms across U.S. Midwest causing widespread damage in Missouri, Iowa and Minnesota: RMS
March 9, 2017 by Canadian UnderwriterAs of March 8, cumulative preliminary tornado, hail and straight-line wind reports in the United States for the year have all been more than double their respective 2005-2015 averages, according to the records of the National Oceanic and Atmospheric Administration’s…
Small firms wanting cyber coverage should “hold an inventory” of personally identifiable information: Chubb
March 3, 2017 Greg Meckbach, Associate EditorBodily injury and property damage exclusions in cyber insurance policies means the Internet of Things has “big implications” for organizations, while malware that existed unbeknownst to a user before binding a policy can mean a cyber incident is not covered,…