Keyword
thunderstorms
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…
Mudslides halt rail traffic between Seattle and Portland
May 7, 2017 The Associated Press (APR)TACOMA, Wash. – Officials with BNSF Railway say mudslides have forced the suspension of train traffic on a heavily travelled section of rails between Seattle, Washington, and Portland, Oregon. Gus Melonas, spokesman for the Burlington Northern and Santa Fe Railway,…
Canada lacks ‘commercially widely available wildfire models,’ Aviva Canada reinsurance VP warns
May 2, 2017 Greg Meckbach, Associate EditorInsurers 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,”…
Transportation Safety Board calls for ‘clear standards limiting’ airplane approaches and landings in thunderstorms
April 3, 2017 by Canadian UnderwriterUnless Canadian airports have systems that alert air crew to wind shear, aircraft “may be exposed to the risk of approach-and-landing accidents,” the Transportation Safety Board of Canada warned in a recent investigation report. TSB released Tuesday an investigation report…
Risk to U.S. property from severe convective storms as high as from hurricanes: Willis Re
March 20, 2017 by Canadian UnderwriterSevere convective storms (SCS) posed as much risk to property in the United States as hurricanes between 2003 and 2015, with the average annual loss from SCS amounting to US$11.23 billion compared to US$11.28 billion from hurricanes. So concludes a…
Severe weather outbreaks in U.S. in February lead to billion-dollar payout for insurance industry: Aon Benfield
March 8, 2017 by Canadian UnderwriterProlific severe weather outbreaks in the United States lead to an expected billion-dollar payout for the insurance industry as no fewer than five outbreaks of severe weather impacted portions of the country during February, according to Impact Forecasting’s latest Global…
Moose Jaw, Sask. storm in July results in more than $71 million in insured damage, CatIQ reports
October 25, 2016 by Canadian UnderwriterA severe storm that swept through Moose Jaw, Sask. during the third week of July has resulted in more than $71 million in insured damage, according to Catastrophe Indices and Quantification Inc. (CatIQ), which delivers detailed analytical and meteorological information…
Louisiana floods to cost U.S. economy between US$10-15 billion: Aon Benfield’s Impact Forecasting
September 8, 2016 by Canadian UnderwriterThe recent flooding in Louisiana is expected to cost the economy of the United States between US$10 billion and US$15 billion, with public and private insured losses expected in the low-digit single billions, according to Aon Benfield’s latest Global Catastrophe…
Total economic losses from disaster events in H1 2016 up 38% to US$71 billion, insurance industry covered 44%: Swiss Re
August 18, 2016 by Canadian UnderwriterTotal economic losses from disaster events in the first half of the year rose by 38% to US$71 billion from the same time last year, primarily due to natural catastrophes, according to preliminary sigma estimates from Swiss Re. Of the…