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2016 costliest 12 months for natural catastrophes in the last four years: Munich Re

January 4, 2017 by Canadian Underwriter

The US$175 billion in natural catastrophes losses in 2016 – the lion’s share of which were uninsured – dwarfed those in the previous year and were just shy of 2012’s US$180 billion total, Munich Re reports. The research released Wednesday

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Southern U.S. drought relents but not over, despite recent rains

December 8, 2016 Jeff Martin - THE ASSOCIATED PRESS

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

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Death toll in storms sweeping southern U.S. increases to five

November 30, 2016 Bill Fuller and Rebecca Yonker - THE ASSOCIATED PRESS

Possible tornadoes swept through parts of Alabama and Tennessee overnight, killing five people and injuring more than a dozen as heavy rains from storms moving across the South produced flooding in areas previously suffering from months of drought. Possible tornadoes

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Storms hamper attempt to clean up, contain fuel spill off B.C. coast

October 24, 2016 The Canadian Press

BELLA BELLA, B.C. – Officials say booms containing a fuel spill from a sunken tug off British Columbia’s central coast have been replaced, but clean up crews continue to face harsh weather as they attempt to work in the area.

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Storm knocks out power to many customers in central and eastern Ontario

October 18, 2016 The Canadian Press

COLLINGWOOD, Ont. – Hydro One is reporting thousands of customers without power after intense storms rolled through parts of central and eastern Ontario on Monday. The utility’s website showed more than 10,000 customers without power as of midnight on a

News CatastrophesInsuranceMergers and Aqcuisitions

Estimated $66 million in insured damage from severe summer storms in southern Prairies: IBC, CatIQ

September 8, 2016 by Canadian Underwriter

Recent severe storms that swept through the southern Prairies – producing heavy rainfall, large hail, high winds, tornadoes and extreme lightning – are estimated to result in insured damage topping $66 million. The damage estimate released by Insurance Bureau of

News CatastrophesInsuranceMergers and Aqcuisitions

Worst flooding since 1998 leaves US$33 billion economic toll in China: Aon’s Impact Forecasting

August 4, 2016 by Canadian Underwriter

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

News CatastrophesInsuranceMergers and Aqcuisitions

Southern Manitoba hit by bad storms, reports surface of buildings being damaged

July 21, 2016 The Canadian Press

WINNIPEG – A severe storm that roared through southern Manitoba on Wednesday left considerable damage in its wake. Tornado warnings were issued across the region, and reports poured in on social media of trees being downed, intersections flooded and power

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June storms in Ontario and Prairies cost about $34 million in insured damage: CatIQ

July 19, 2016 by Canadian Underwriter

The storms that hit Saskatchewan, Manitoba and Ontario on June 24 and 25 caused more than $34 million in insured damage, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). A press release issued on Tuesday by the Insurance

News CatastrophesInsuranceMergers and Aqcuisitions

Storms tear up small communities in Minnesota, Wisconsin

July 12, 2016 The Associated Press

LITCHFIELD, Minn. – Storms carrying tornadoes, torrential rain and powerful winds damaged homes, deposited a snowplow in a tree and flooded highways in north-central Minnesota and northern Wisconsin. Audrey Schoenberg took shelter at a restaurant in Litchfield, Minnesota, after a

News CatastrophesInsurance

$100 million cat bond issuance covers U.S. named storm, earthquake until June 1, 2017

July 11, 2016 by Canadian Underwriter

Laetere Re Ltd. has issued US$100 million worth of catastrophe bonds, covering certain named storms and earthquake in the United States, on behalf of three subsidiaries of United Insurance Holdings Corp. The issuance was announced July 7 by Swiss Re

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Latest estimate of insured losses from Eva-Frank flooding £538 million: PERILS AG

June 27, 2016 by Canadian Underwriter

PERILS AG Friday issued an estimate of £538 million for insured property market loss from flooding damage in the United Kingdom as a result of storms in late December and early January. Storms Eva and Frank hit the U.K. in