Canadian Underwriter

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wildfires


News CatastrophesInsuranceMergers and Aqcuisitions

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 Underwriter

A 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

News CatastrophesClimate ChangeInsuranceMarkets / Coverages

Earth likely to see increase in frequency and intensity of storms, wildfires and flooding: AIR Worldwide

July 5, 2017 by Canadian Underwriter

The 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

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsTechnology

Loss adjusting innovation emerging in light of insurance claims for forest fires: Cunningham Lindsey

June 6, 2017 by Canadian Underwriter

Greater 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

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

PERILS discloses second loss estimate of 259 million euros for extratropical cyclone Zeus

June 6, 2017 by Canadian Underwriter

PERILS 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

News CatastrophesInsuranceMergers and Aqcuisitions

PERILS discloses second property loss estimate of 234 million euros for extratropical cyclone Egon

April 12, 2017 by Canadian Underwriter

PERILS 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

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Climate adaptation investment has ‘long-lasting and substantial impact:’ Intact VP

April 5, 2017 Greg Meckbach, Associate Editor

Building 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.

News AssociationsCatastrophesClimate ChangeInsuranceReinsurance

IBC supports regional platform for disaster risk reduction outcomes, vows to continue working with government

March 15, 2017 by Canadian Underwriter

Insurance 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

News CatastrophesInsuranceMergers and Aqcuisitions

Slower winds in forecast could aid crews battling wildfires

March 9, 2017 Heather Hollingsworth - THE ASSOCIATED PRESS

KANSAS 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

News CatastrophesInsuranceMergers and Aqcuisitions

U.S. severe weather, flooding leads to billion-dollar cost for insurance industry in January: Aon Benfield

February 9, 2017 by Canadian Underwriter

Major 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

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

A.M. Best projects combined ratio of 100.3% for U.S. industry in 2017

January 30, 2017 by Canadian Underwriter

The 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

News CatastrophesInsuranceMergers and Aqcuisitions

In Tennessee wildfires, officials estimate $500M in damage

December 14, 2016 Jonathan Mattise - THE ASSOCIATED PRESS

NASHVILLE – 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

News CatastrophesInsuranceMarkets / Coverages

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