News
Majority of British homeowners don’t check for flood risk: survey
December 13, 2012 by Canadian UnderwriterFlood risk assessment firm Ambiental Technical Solutions Ltd. announced Thursday the results of a survey of British homeowners, reporting that 72% of respondents do not check for flood risk when they buy a new house. In a press release, Ambiental…
Over 60% of Canadians concerned about U.S. fiscal cliff’s impact here: study
December 13, 2012 by Canadian UnderwriterA majority of Canadians are worried that the United States fiscal cliff could hurt Canada’s economy, according to a recent survey. A Sun Life Financial-commissioned Ipsos Reid study suggests 63% of Canadians are concerned about the fiscal cliff, or the…
Aon offers insurance for space tourists
December 13, 2012 by Canadian UnderwriterAon plc announced this week it is providing trip cancellation insurance for space tourists intending to travel on Lynx suborbital spaceplanes operated by Amsterdam-based Space Expedition Corp. (SXC). “This insurance policy provides coverage for losses related to flight cancellation, postponement…
Honda Civic tops list of most stolen cars in Canada
December 13, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has released its annual list of the top 10 most frequently stolen vehicles in Canada, with the 2000 Honda Civic topping the list. Civics actually take up the top two places in this year’s list, perhaps unsurprisingly, as…
New Brunswick government to spend $279.6 million on infrastructure
December 12, 2012 by Canadian UnderwriterThe New Brunswick government announced Wednesday its intention to spend $279.6 million on buildings, bridges, highways, rural roads and equipment in fiscal year 2013-14. “Our government is investing in strategic infrastructure which will help to build a stronger province and…
Scientists forecast above-average Atlantic hurricane activity in 2013
December 12, 2012 by Canadian UnderwriterThe Tropical Storm Risk consortium has predicted above-average hurricane activity in the Atlantic basin in 2013. Its recent report, co-written by Mark Saunders and Adam Lea of the University College London (UCL)’s department of space and climate physics, uses forecasts…
FirstOnSite Restoration launches software for site reports, property claims
December 12, 2012 by Greg Meckbach, Associate EditorFirstOnSite Restoration announced Wednesday it has developed its own software designed to let project managers compile site reports of damaged properties and generate electronic records for claims adjusters, plus work orders for construction and repair crews. The Mississauga, Ont.-based firm…
IBAO announces new president
December 12, 2012 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) has announced that Debbie Thompson has been elected as the association’s 70th president. Thompson was officially inducted at the recent IBAO Convention held in Toronto, and will formally assume her role as president…
The Hartford estimates Sandy losses at $370 million
December 12, 2012 by Canadian UnderwriterThe Hartford has announced its initial loss estimate for “superstorm” Sandy, with gross losses and loss adjustment expenses estimated at $370 million before tax. Losses and loss adjustment expenses net of reinsurance are estimated at $350 million, before tax, the company said Wednesday.…
Honda recalls 52,000 vehicles in Canada for roll-away risk
December 12, 2012 by Canadian UnderwriterAutomaker Honda has issued a recall for more than 52,000 minivans and SUVs in Canada and hundreds of thousands more worldwide for a roll-away risk. The company has issued the recall for its 2003-04 Odyssey and Pilot models. The recall…
Chubb estimates $570 million in net losses from Sandy
December 12, 2012 by Canadian UnderwriterThe Chubb Corp. has estimated its losses from “superstorm” Sandy to be about $570 million after tax, the company said Tuesday. That amount, which equates to $880 million before tax, includes estimated losses and loss expenses net of reinsurance recoverable…
ICLR announces new book on pioneering wind engineer
December 11, 2012 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) has announced the launch of Wind Wizard: Alan G. Davenport and the Art of Wind Engineering, a book commissioned by the Institute in honour of Dr. Alan Davenport, pioneering wind engineering professor at…