Keyword
wind
The biggest property risks for green energy
March 29, 2021 by Greg MeckbachFloods, hail, fire, and lightning strikes are among the concerns for underwriters who insure green energy projects, an expert with RSA Canada says. And also, solar panel placement. Perhaps not many would link solar panel placement with flood risk, but…
Wind and rain batter coast of British Columbia
January 6, 2021 The Canadian PressVANCOUVER – Wind and rain warnings have been lifted from coastal British Columbia following a powerful storm that hammered Haida Gwaii, Vancouver Island and the Sunshine Coast and cancelled sailings on most BC Ferry routes. Gusts topping 130 km/h lashed…
Central Labrador snowfall breaks one record, nearly smashes a second
November 25, 2020 The Canadian PressHAPPY VALLEY-GOOSE BAY, N.L. – A two-day snowstorm that began Monday has buried central Labrador under a record-setting blanket of snow. Environment Canada meteorologist David Neil said today the 75 centimetres of snow covering Happy Valley-Goose Bay is the second-largest…
Adjusters monitoring Ontario windstorm as a “potential” Cat event
November 16, 2020 by Jason ContantClaims adjusters are watching to see if an overnight Ontario windstorm will meet the $25-million threshold of a natural catastrophe (NatCat). As of September, Canadian P&C companies had paid out $2.1 billion for insured NatCat events this year. For now,…
Shift in wind has potential to increase danger near Penticton, B.C. wildfire
August 21, 2020 The Canadian PressPENTICTON, B.C. – Firefighters in British Columbia’s southern Okanagan are bracing for a change in wind and weather that has the potential to drive a huge wildfire north toward the outskirts of Penticton. Calm winds over the last few days…
Simple ways to keep a roof on during a tornado
August 13, 2019 by Jason ContantThe 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…
Is wind “the new water” for Canada’s insurers?
April 25, 2019 by Jason ContantHigh 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…
Ontario’s latest wind storm: is it as costly as last year’s wind cat?
February 25, 2019 by Jason ContantThe 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.…
Hurricane recent events, history illustrate need to beef up preparedness: AGCS
October 27, 2017 by Angela StelmakowichThe 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…
Total property damage from Hurricane Harvey’s flooding estimated at between US$65-75 billion: AIR Worldwide
September 7, 2017 by Canadian UnderwriterProperty 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…
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 UnderwriterThe 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…
Economic losses from Hurricane Harvey could be as high as US$70-90 billion: preliminary RMS estimate
August 31, 2017 by Canadian UnderwriterEconomic 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…