Ironshore Inc. has introduced a crisis management endorsement for all in-force, stand-alone Terrorism policies as an automatic extension so that insureds can access crisis response specialists following an act of terrorism or an active shooter event at an insured location…
Global catastrophe risk management firm Risk Management Solutions, Inc. (RMS) estimated on Monday that the insured loss associated with wind and coastal flooding from Hurricane Hermine will not exceed US$400 million. This figure includes property damage and business interruption caused…
CALGARY – 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…
The August downpours that dumped more than 30 inches of rain in two days on parts on Louisiana have left as many as 100,000 insured cars and trucks damaged, the National Insurance Crime Bureau (NICB) in the United States said…
A severe storm that swept through Alberta, Saskatchewan and Manitoba during the second week of July has resulted in more than $48 million in insured damage, according to Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), which delivers detailed analytical and…
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…
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…
Recovery from the Fort McMurray fire is continuing and will likely do so for some time. But how can stakeholders work together to parlay unprecedented damage and loss into a living, sustainable approach to help better manage wildfire risks? Lessons learned – both old and new – coupled with clear requirements and buy-in from all concerned, could help with realizing concrete benefits in future.
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,…
Oil and gas company BP plc announced on Thursday that the 2010 Deepwater Horizon accident and oil spill will cause the company to take “an after-tax non-operating charge of around US$2.5 billion in its second quarter 2016 results.” BP said…
NEW YORK – More than 500,000 hoverboards are being recalled after dozens of reports of fires and spewing smoke. There have been 99 reports to the United States Consumer Product Safety Commission of battery packs that have overheated, exploded or…
The massive Fort McMurray wildfire is expected to cost the Canadian insurance industry $4.6 billion, according to data from Property Claim Services (PCS), a Verisk Analytics business. The loss estimate of $4,630,800,000 includes property damage losses under residential, commercial and…