Keyword
wildfires
Saskatoon thunderstorm estimated to cost over US$30 million, floods and convective storms cost global economy US$5 billion in June: Aon Benfield
July 6, 2017 by Canadian UnderwriterA thunderstorm over Saskatoon on June 2 that spawned ping pong ball-sized hail is estimated to cost more than US$30 million, Aon Benfield said in its Global Catastrophe Recap report for the month of June. The fast-developing thunderstorm caused the…
Earth likely to see increase in frequency and intensity of storms, wildfires and flooding: AIR Worldwide
July 5, 2017 by Canadian UnderwriterThe earth is likely to see an increase in the frequency and intensity of weather phenomena, including severe thunderstorms, wildfires, inland floods and coastal flood, according to projections from catastrophe risk modelling firm AIR Worldwide. The projections were contained in…
Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey
June 6, 2017 by Canadian UnderwriterGreater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review…
PERILS discloses second loss estimate of 259 million euros for extratropical cyclone Zeus
June 6, 2017 by Canadian UnderwriterPERILS AG has disclosed a second loss estimate for extratropical cyclone Zeus of 269 million euros. The revised estimate, released on Tuesday, is for the property insurance market loss, said PERILS, an independent organization based in Zurich, Switzerland that provides…
PERILS discloses second property loss estimate of 234 million euros for extratropical cyclone Egon
April 12, 2017 by Canadian UnderwriterPERILS AG has disclosed its second loss estimate of 234 million euros for extratropical cyclone Egon, which affected France and Germany on Jan. 12 and 13 of this year. The cold front associated with Egon resulted in heavy rain and…
Climate adaptation investment has ‘long-lasting and substantial impact:’ Intact VP
April 5, 2017 Greg Meckbach, Associate EditorBuilding infrastructure to reduce weather-related losses can benefit society for generations, but the problem of climate change is “so global and complex” that there will always be more work required, insurance company executives suggested Wednesday at a conference in Toronto.…
IBC supports regional platform for disaster risk reduction outcomes, vows to continue working with government
March 15, 2017 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has voiced the property and casualty industry’s continued support for efforts by the federal government to enhance disaster risk reduction and make communities more resilient. “Our industry remains committed to being a full partner with…
Slower winds in forecast could aid crews battling wildfires
March 9, 2017 Heather Hollingsworth - THE ASSOCIATED PRESSKANSAS CITY, Mo. – The winds fueling deadly wildfires that scorched vast swathes of land in four Plains states finally dropped Thursday, bringing hope to crews trying to contain the blazes. Emergency personnel warned, however, that extremely dry conditions and…
U.S. severe weather, flooding leads to billion-dollar cost for insurance industry in January: Aon Benfield
February 9, 2017 by Canadian UnderwriterMajor severe weather and flood events in the United States in January led to billion-dollar cost for the insurance industry, according to Aon Benfield’s latest Global Catastrophe Recap. The January report noted that separate major severe weather outbreaks swept across…
A.M. Best projects combined ratio of 100.3% for U.S. industry in 2017
January 30, 2017 by Canadian UnderwriterThe industry-wide combined ratio of the United States property & casualty insurance industry is estimated to have deteriorated by 2.4 points to 100.7% in 2016, A.M. Best Company Inc. said in a recent report. The decline in underwriting performance “was…
In Tennessee wildfires, officials estimate $500M in damage
December 14, 2016 Jonathan Mattise - THE ASSOCIATED PRESSNASHVILLE – Deadly wildfires caused more than $500 million in damage as they tore through a tourism community in the foothills of the Great Smoky Mountains and killed 14 people, local officials estimated Tuesday. Sevier County Mayor Larry Waters put…
Southern U.S. drought relents but not over, despite recent rains
December 8, 2016 Jeff Martin - THE ASSOCIATED PRESSATLANTA – 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…