MONTREAL – New rules governing compensation for flood victims could come by the end of the week, Quebec Premier Philippe Couillard said Monday. The government’s current financial aid program isn’t inadequate, but could be improved, the premier told reporters in…
OTTAWA – When municipal officials were told last year about new tools to help them map the risk of flooding in their communities, they immediately raised red flags, suggesting they wanted no part of it over concerns about legal liability…
Insurers have no “meaningful way of modelling wildfire” losses, a senior executive for Swiss Re Ltd. recently suggested to industry professionals. “If you look at it globally speaking, usually about half of the total insured losses globally are unmodelled perils,”…
Commercial property insurer FM Global announced on Tuesday that it has launched its Global Flood Map, offering a “one-stop consistent global view of flood exposure to aid businesses.” The interactive Global Flood Map “presents business executives with a powerful new…
ATLANTA – Recent showers and storms across much of the South have eased the severe drought in the region, but experts say it wasn’t enough to make up for months of dry conditions before the rain finally fell. More rain…
PIGEON FORGE, Tenn. – Wildfires fueled by high winds roared through parts of the Great Smoky Mountains, burning the doorstep of the Dollywood theme park, destroying a resort and chasing thousands of people from their homes. National Guard troops arrived…
All 10 Canadian provinces and Yukon are not making the grade when it comes to flood preparedness, signalling the need for change, including not allowing municipalities to override provincial or territorial direction on development in flood-prone areas, argues a new…
AIR Worldwide is estimating that “industry ground-up insurable losses” from the flooding in Louisiana during August will be between US$8.5 billion and US$11 billion. The catastrophe modelling firm explained in a press release issued on Monday that the “industry ground-up…
Additional rainfall could result in more flooding in southern Louisiana, already hit hard by extensive flooding associated with one of the state’s most catastrophic, non-tropical cyclone-triggered flood events in decades. “In the event of further rainfall, the region’s flat topography,…
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…
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…
Crews for the Regional Municipality of Wood Buffalo removed numerous barricades erected after heavy rainfall caused flooding in the region that played unwelcome host to the devastating Fort McMurray wildfire this spring. “Following yesterday’s rainfall, ground support staff from Underground…