Keyword
wildfire
Insurance rates decrease continued to moderate for third quarter in a row: Marsh
November 11, 2016 by Canadian UnderwriterThe third quarter of 2016 marked the third consecutive quarter that the rate of decline for global insurance rates has moderated by weighted average, Marsh notes in its newly released Global Insurance Market Index Q3 – 2016. Pointing out that…
Fort McMurray will hit Canadian’s p&c industry financial results in 2016: A.M. Best
November 9, 2016 by Canadian UnderwriterCurrent-year financial results for Canada’s property and casualty industry – which were once again strong in 2015 – are expected to take a hit in the wake of the Fort McMurray wildfire loss, notes a new report from A.M. Best.…
Back to business results expected from oilsands as wildfire impact dissipates
October 26, 2016 Dan Healing - THE CANADIAN PRESSCALGARY – Oilsands producers are expected to report back-to-business third-quarter results over the next few days as they shrug off lingering impacts of last May’s devastating wildfires in Fort McMurray, Alta. While provincial estimates report that Alberta oilsands production dropped…
1.8 million homes in 13 western states at extreme or high risk of wildfire damage: CoreLogic
October 26, 2016 by Canadian UnderwriterNearly two million homes in 13 western states are at an extreme or high risk of wildfire damage, according to a new report from CoreLogic, Inc. CoreLogic, a global property information, analytics and data-enabled solutions provider, said on Wednesday that…
Crews try to keep massive northern Nevada wildfire at bay
October 17, 2016 The Associated PressRENO, Nev. – Firefighters in Nevada were hoping to stop a wind-driven wildfire, which has already destroyed 22 homes north of Carson City, from jumping any major roads Saturday. The blaze between Reno and Carson City was only 5 per…
Mandatory, voluntary evacuations issued in wake of California, Nevada wildfires
October 14, 2016 by Canadian UnderwriterMandatory evacuations have been issued for 500 residences in northeastern California after a wildfire began early Friday morning. The California Department of Forestry and Fire Protection (Cal Fire) said in a statement on Friday that voluntary evacuations have been issued…
Business interruption payouts should be based on historic results even in post-disaster economy: AEIC speaker
October 11, 2016 by Angela StelmakowichThe Fort McMurray wildfire will likely raise questions about the basis for business interruption (BI) insurance payouts in a post-catastrophe economy, but historic results are the best indication of what otherwise would have occurred, Emily Stock argued during the 43rd…
Alberta emergency relief funding following wildfire to end this month
October 6, 2016 by Canadian UnderwriterThe emergency payment program that has helped approximately 96,000 Wood Buffalo evacuees, forced from their homes in the wake of the massive Fort McMurray wildfire this past May, is ending Oct. 31. The program – which has provided wildfire relief…
Cat bond issuance so far in 2016 down 15% compared to same period in 2015, Fort Mac reviving talk about unmodelled risks: PCS
October 5, 2016 by Canadian UnderwriterYear-to-date Cat bond issuance was down more than 15% compared to the prior-year period as a result of a usually light third quarter and a less usual quiet second quarter, notes a new report from Property Claim Services (PCS). The…
Colorado wildfire destroys eight homes, forces evacuations
October 5, 2016 The Associated PressBEULAH, Colo. – A wildfire that has forced hundreds of evacuations in southern Colorado destroyed at least eight homes, but firefighters took advantage of calmer weather Tuesday to get a handle on the blaze. Three helicopters and three air tankers,…
Fort Mac wildfire more than an “earnings event” for some insurers, domestic market posts $1 billion underwriting loss in H1: MSA
September 28, 2016 by Canadian UnderwriterThe Fort McMurray wildfire may have been an “earnings event” for the largest insurers in Canada’s property and casualty industry, but that was not the case for some smaller regional writers, notes the newly released MSA Quarterly Outlook Report for…
California heat wave intensifies wildfire threatening homes
September 27, 2016 Noah Berger and Kristin J. Bender - THE ASSOCIATED PRESSMORGAN HILL, Calif. – A heat wave stifling drought-stricken California worsened a wildfire Tuesday that burned buildings and forced people from their homes in remote communities along the Santa Cruz Mountains. The blaze in a rugged area about 30 miles…