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Hurricane Harvey likely to be one of the costliest natural disasters on record for U.S. economy: Aon Benfield

September 8, 2017 by Canadian Underwriter

Hurricane Harvey is likely to be one of the costliest natural disasters on record for the economy of the United States, with damage from the hurricane to minimally cost tens of billions of dollars, Aon Benfield has reported. Impact Forecasting,

News CatastrophesInsuranceMergers and Aqcuisitions

Authorities confirm tornado hit Quebec town as cleanup operations continue

August 24, 2017 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – Environment Canada says a tornado touched down in a Quebec town during intense thunderstorms that caused considerable damage in different parts of the province, including the felling of century-old trees in Montreal. Meteorologist Amelie Bertrand said Wednesday a team dispatched to Lachute confirmed an EF-1 tornado with winds reaching about 175 km/h struck in the town about 85 kilometres north of Montreal.

Bertrand said an EF-1 tornado can cause wind gusts ranging from about 135 to 175 km/h, placing Tuesday’s tornado at the higher end of…

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Cleanup underway after severe storm with heavy winds rips through Montreal area

August 23, 2017 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – Crews began cleaning up in Quebec on Wednesday after a suspected tornado hit one town and severe thunderstorms ripped through other parts of the province, felling century-old trees in one Montreal neighbourhood. The Montreal area and the Laurentian

News CatastrophesInsuranceMergers and Aqcuisitions

B.C. considers closing wide swath of backcountry because of wildfire risk

August 11, 2017 The Canadian Press (CPSTF)

WILLIAMS LAKE, B.C. – A mix of dry conditions and forecast lightning has officials in British Columbia considering closing access to a vast section of its backcountry to mitigate the wildfire risk. Restrictions on access to all Crown land in

News CatastrophesClimate ChangeInsurance

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 Underwriter

Last 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

News CatastrophesInsuranceMergers and Aqcuisitions

Asia records US$11 billion economic loss from heavy flooding in July, western Canada affected by wildfires, severe weather: Aon

August 8, 2017 by Canadian Underwriter

Relentless seasonal flooding that began in mid-June resulted in continued fatalities and damage across parts of Asia in July, causing an estimated US$11 billion in economic losses, according to Impact Forecasting’s latest Global Catastrophe Recap report. On Tuesday, Impact Forecasting,

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Hannover Re, Guy Carpenter place $960 million worth of ILS transactions in three U.S. states

July 12, 2017 by Canadian Underwriter

Hannover Re announced Wednesday it has completed three insurance-linked securities transactions, through Marsh and McLennan Companies Inc.’s GC Securities unit, with a total value of $960 million. All figures are in United States dollars. Hannover Re said it transferred $750

News CatastrophesInsuranceMergers and Aqcuisitions

Red Deer cleaning up from windstorm after declaring state of emergency

June 22, 2017 The Canadian Press

RED DEER, Alta. – People in Red Deer were cleaning up Wednesday after a violent windstorm that knocked out power and prompted the central Alberta city to declare a local state of emergency. Homes were damaged Tuesday when wind gusts

News CatastrophesInsuranceMergers and Aqcuisitions

Number of lightning-related homeowners insurance claims in the U.S. up in 2016, but average cost for insurers down: I.I.I.

June 16, 2017 by Canadian Underwriter

The number of homeowners insurance claims from lightning strikes and electrical surges in the United States rose in 2016, compared with 2015, but the average cost that insurers paid on those claims fell, according to a new analysis by the

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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 Underwriter

Several 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

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Forecast thunderstorms add to flooding concerns across southern B.C.

May 31, 2017 The Canadian Press

VANCOUVER – Residents in several areas of British Columbia are bracing for severe thunderstorms as another round of wicked weather bears down on flood-weary regions. Environment Canada has issued severe thunderstorm watches for areas including the Shuswap and Okanagan east

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Hurricanes and typhoons could be monitored from hundreds of miles away, possibly leading to better forecasts: study

May 19, 2017 by Canadian Underwriter

Hurricanes and typhoons could be monitored from hundreds of miles away with relatively inexpensive instruments like barometers and anemometers, much like earthquakes are monitored by seismometers, a new study has found. The study, titled Spiral Gravity Waves Radiating from Tropical