Keyword
severe weather
Planning for a public emergency? Don’t follow Ontario’s example
December 6, 2017 Greg Meckbach, Associate EditorOntario’s emergency planning for risks such as severe weather, terrorism and cyber-attacks is in dire need of an update, the province’s auditor general concluded in a report released Wednesday. The province’s severe weather plan has not been updated in 12…
Free online offering hopes to bolster catastrophe modelling understanding
September 5, 2017 by Canadian UnderwriterWhat has been described as the first free and neutral open online catastrophe modelling course was launched today to help those working in climate change and disaster loss mitigation, academia and insurance better understand the use of models in nat-Cat…
2016 was the warmest year on record for the globe, Canadian Prairies experienced one of the “longest and most active storm seasons”: report
August 11, 2017 by Canadian UnderwriterLast year topped 2015 as the warmest year in 137 years of record keeping and marked the third consecutive year of record warmth, the National Oceanic and Atmospheric Administration (NOAA) reported on Thursday. The 27th annual State of the Climate…
Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR
August 9, 2017 by Canadian UnderwriterIn a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk…
Allstate estimates June catastrophe losses at US$335 million
July 24, 2017 by Canadian UnderwriterThe Allstate Corp. announced July 20 it estimates its catastrophe losses for the three months ending June 30 will be $993 million, pre-tax, of which $310 million is from 17 events in June alone. Northbrook, Ill.-based Allstate reported in August,…
IBC congratulates City of Toronto on the creation of a chief resilience officer position
July 5, 2017 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is congratulating the City of Toronto “for its ongoing commitment to emergency preparedness” with the recent establishment of a chief resilience officer for the city. Last month, Tory announced that the position will be…
AIR Worldwide releases probabilistic crop hail model for Canada
June 26, 2017 by Canadian UnderwriterAIR Worldwide has released what the catastrophe risk modelling firm calls the industry’s first crop hail model to provide stakeholders across the crop insurance value chain with a probabilistic view of the effects of hail on Canadian crops. Currently available…
Cyclones Debbie, Cook in New Zealand combine to produce insured losses of NZ$84 million so far
June 19, 2017 by Canadian UnderwriterThe two cyclones that pounded New Zealand in April have spurred insured costs of NZ$84 million to date, setting the stage for what could become one of the most damaging year in recent years and leading to wrong-headed government actions…
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…
Resource risk top concern for wind energy sector: GCube Underwriting
May 23, 2017 by Canadian UnderwriterResource risk has surpassed mechanical and electrical breakdown to become the number one potential source of financial losses for onshore wind energy developers, owners and operators globally, suggests a new report from GCube Underwriting Ltd. Despite continued development and improvement…
Tornadoes suspected in violent N.B. storm: ‘It came without any notice’
May 19, 2017 The Canadian PressSHIPPAGAN, N.B. – Authorities suspect a violent storm that hit New Brunswick suddenly late Thursday, ripping roofs apart and pulling down utility poles, may have been powered by tornadoes. “They were expecting some thundershowers, but nothing of that magnitude so…
Flooding in Ontario and Quebec in April and May estimated to cost “well into the millions” in U.S. dollars: Aon Benfield
May 9, 2017 by Canadian UnderwriterFlooding in multiple communities in southern Ontario and Quebec in April and into May is estimated to cost “well into the millions of dollars (USD)” in economic losses, Impact Forecasting said on Tuesday in its Global Catastrophe Recap report for…