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Simple ways to keep a roof on during a tornado

August 13, 2019 by Jason Contant

The Institute for Catastrophic Loss Reduction (ICLR) and home building company Doug Tarry Homes Ltd. have joined forces for a pilot project on increasing the resilience of homes to high wind and tornado events. High winds contributed in part to

News CatastrophesConstructionInsurance

Is wind “the new water” for Canada’s insurers?

April 25, 2019 by Jason Contant

High winds contributed in part to most catastrophes in Canada over the past few decades, prompting the need for a new national standard on wind resilience, the Institute for Catastrophic Loss Reduction (ICLR) said Thursday. A report released by ICLR

News AdjustersClaimsInsurance

Ontario’s latest wind storm: is it as costly as last year’s wind cat?

February 25, 2019 by Jason Contant

The strong wind storm that continues across parts of Ontario Monday is being compared to the costliest insured loss event of 2018. Beginning on Sunday, Feb. 24, a powerful, sustained wind storm caused blizzard conditions and damaging winds across Ontario.

News CatastrophesClaimsClimate ChangeInsurance

Hurricane recent events, history illustrate need to beef up preparedness: AGCS

October 27, 2017 by Angela Stelmakowich

The preparedness of U.S. businesses is still wanting despite lessons learned from Hurricane Sandy and the high hurricane activity, devastation and losses so far this Atlantic hurricane season, suggests Allianz Global Corporate & Specialty (AGCS). “In light of lessons learned

News ClaimsInsuranceMergers and AqcuisitionsReinsurance

Total property damage from Hurricane Harvey’s flooding estimated at between US$65-75 billion: AIR Worldwide

September 7, 2017 by Canadian Underwriter

Property losses from flooding in Texas caused by Hurricane Harvey’s record-breaking rainfall will be between US$65 billion and US$75 billion, catastrophe modelling firm AIR Worldwide estimated in a press release issued late Wednesday. The estimate includes damage to all properties

News CatastrophesInsuranceMergers and AqcuisitionsProfessional Development

U.S. P&C association calls on Congress to pass National Flood Insurance Program extension in wake of Hurricane Harvey

August 31, 2017 by Canadian Underwriter

The president and CEO of the Property Casualty Insurers Association of America (PCI) is calling on the U.S. Congress to pass at least a six-month extension of the National Flood Insurance Program (NFIP). David A. Sampson said in a press

News CatastrophesClaimsInsuranceMergers and Aqcuisitions

Economic losses from Hurricane Harvey could be as high as US$70-90 billion: preliminary RMS estimate

August 31, 2017 by Canadian Underwriter

Economic losses caused by wind, storm surge and inland flood from Hurricane Harvey could be as high as US$70-90 billion, according to preliminary estimates from Risk Management Solutions, Inc. (RMS). The Newark, Calif.-based global risk modelling and analytics firm said

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Insured losses from Harvey’s wind, storm surge as much as US$2.3 billion: AIR Worldwide

August 29, 2017 by Canadian Underwriter

Harvey-related winds and storm surge in Texas are expected to produce industry insured losses amounting to between US$1.2 billion and US$2.3 billion, AIR Worldwide reported Monday afternoon as flooding in southeastern Texas continued to strand residents and wreak havoc. Included

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Harvey creating life-threatening flooding in southeastern Texas, early damage estimate up to US$2 billion

August 28, 2017 by Canadian Underwriter

Catastrophic and life-threatening flooding persisted over parts of southeastern Texas as of early Monday morning despite Harvey being downgraded from an anticipated Category 3 hurricane to a tropical storm. “Do not attempt to travel in the affected areas if you

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

More than 200,000 homes in Texas at potential risk of storm surge damage from Hurricane Harvey: CoreLogic

August 25, 2017 by Canadian Underwriter

More than 200,000 homes along the coast of Texas with a reconstruction cost value (RCV) of approximately US$39.6 billion are at potential risk of storm surge damage from Hurricane Harvey, CoreLogic suggested late Thursday. Irvine, Calif-based CoreLogic, a global property

News CatastrophesInsuranceMergers and Aqcuisitions

B.C.’s wildfire season surpasses 1958 record for amount of land burned

August 17, 2017 The Canadian Press (CPSTF)

KAMLOOPS, B.C. – British Columbia’s wildfires have destroyed a record amount of forest, brush and grassland, surpassing the devastation of nearly 60 years ago. Kevin Skrepnek with the BC Wildfire Service said about 8,944 square kilometres have been scorched by

News Climate ChangeInsurance

Some seasonal small businesses have no insurance coverage heading into summer

July 27, 2017 by Canadian Underwriter

Seasonal businesses need the same risk coverage as year-round operations and busy small business owners should ensure they are appropriately protected as the summer season kicks into high gear, advises TruShield Insurance. Pointing out that small business owners are starved