663 articles for fort mcmurray
Alberta emergency relief funding following wildfire to end this month
October 6, 2016 by Canadian UnderwriterThe emergency payment program that has helped approximately 96,000 Wood Buffalo evacuees, forced from their homes in the wake of the massive Fort McMurray wildfire this past May, is ending Oct. 31. The program – which has provided wildfire relief…
Intact estimates $170 million in cat losses for third quarter of 2016
October 4, 2016 by Canadian UnderwriterIntact Financial Corporation (IFC) has announced estimated catastrophe losses, net of reinsurance, of approximately $170 million on a pre-tax basis for the third quarter of 2016. The estimate equates to about $124 million or $0.95 per share for the quarter,…
Bracing for Change
October 2, 2016 Angela Stelmakowich, EditorAttendees of the 42nd Annual RIMS Canada Conference had the opportunity to learn about the most pressing (and persistent) risk management issues facing professionals, their partners and the industry itself. Common to all, though, is a need to get educated and be flexible for what may unfold in future.
Organizations starting to show greater openness to enlisting experts to help with cyber security: NICC speaker
October 1, 2016 Angela Stelmakowich, EditorVANCOUVER – Cyber attackers are becoming increasingly sophisticated – employing better techniques and targeting information that could prove particularly damaging – but that may be balanced by a greater openness to use expertise and not go it alone, it was…
New reinsurer view of Canada may be forming, likely to influence pricing
September 30, 2016 Angela Stelmakowich, EditorVANCOUVER – The higher frequency of billion-dollar-plus natural catastrophe events in Canada contributes to the global reinsurance community viewing the country differently and pricing will need to change to reflect risk, Mark Cloutier, group CEO for Brit Insurance Ltd., said…
Need to shift from focus on task to focus on customer: NICC speaker
September 30, 2016 Angela Stelmakowich, EditorVANCOUVER – Attempts to become truly customer-centric will not be realized until insurers can shift away from an entrenched focus on task that erects barriers to more meaningful customer engagement, Barry Pokroy, leader of Farber Financial Group’s Circle & Square…
Changing climate is raising forest fire risk, says Natural Resources Canada annual report
September 28, 2016 Bruce Cheadle - THE CANADIAN PRESSOTTAWA – A new government report says that by the end of this century a changing climate is expected to at least double the area burned each year by forest fires in Canada. The 2015 annual forest assessment by Natural…
B.C. earthquake warning technology ShakeAlarm goes global
September 28, 2016 by Canadian UnderwriterTwo Canadian companies have entered into a global preferred service provider agreement that will bring “affordable and reliable” British Columbia-developed earthquake early warning system (EEWS) technology to countries with high seismic risk that currently do not have proven systems in…
Lloyd’s reports 1.46 billion pound profit for first half of 2016, combined ratio up 8.5 points to 98%
September 22, 2016 by Canadian UnderwriterDespite seeing a “major claims increase due primarily to the Fort McMurray fires in Alberta, Canada” and a challenging market environment, Lloyd’s of London has reported a profit of 1.46 billion pounds – or nearly $2.5 billion – for the…
Change in exposure driving widening gap between insured, economic losses following disaster events
September 14, 2016 by Angela StelmakowichCALGARY – A dramatic loss scenario around disaster events is developing globally, contributing to a widening gap between insured and economic losses, Alex Kaplan, senior vice president of global partnerships for Swiss Re, suggested earlier this week during the RIMS…
Oilsands carbon capture and storage project reaches one-year milestone
September 14, 2016 by Canadian UnderwriterShell Canada has announced that the Quest carbon capture and storage (CCS) project has captured and stored one million tonnes of carbon dioxide (CO2) underground “ahead of schedule” in its first year of operation. Quest is the first CCS project…
Bank of Canada senior deputy says adapt to slower growth and low rates
September 14, 2016 The Canadian PressLONDON – The senior deputy governor of the Bank of Canada says investors and those in the financial system need to adapt to the reality of slower growth and associated low interest rates. In a speech to the Official Monetary…