Segment
Risk Management
Alberta wildfires result in call for feds to re-commit to Canadian Wildland Fire Strategy
May 25, 2011 by Canadian UnderwriterRecent wildfires that have evacuated residents and destroyed almost 400 lots in Slave Lake, Alberta have resulted in a call for the federal government to move forward with funding for the 2005 Canadian Wildland Fire Strategy (CWFS).Brian Stocks, author, wildfire…
1998 Ice Storm event would cause fewer claims today, taking mitigation efforts into account: RMS
May 25, 2011 by Canadian UnderwriterImprovements to underwriting and infrastructure would likely reduce the overall insured loss if an ice storm similar in scale to the 1998 Ice Storm happened today, said Matthew Nielsen, senior product marketing manager of natural catastrophe and portfolio solutions at…
F4 tornado in downtown Toronto would cause $4 billion in losses
May 25, 2011 by Canadian UnderwriterIf an F4 tornado – which packs wind speeds of between 333 km-h and 418 km-h – ripped through downtown Toronto, it could potentially cause up to $4 billion in losses, said Matthew Nielsen, senior product marketing manager of natural…
TSR predicts active 2011 hurricane season
May 25, 2011 by Canadian UnderwriterTropical Storm Risk (TSR) is sticking with its April 2011 tropical storm forecast, which predicts an active hurricane season in 2011, with hurricane activity this year to be about 25% above the long-term (1950-2010) norm.TSR’s forecast for the 2011 hurricane…
A.M. Best says London Market prepared to bear the weight of 2011 Q1 catastrophe losses
May 25, 2011 by Canadian UnderwriterLondon’s insurance market is well-placed to bear the pressure it will face as a result of high catastrophe losses in 2011, according to a May 24, 2011 A.M. Best briefing.A.M. Best observed that, in common with its peers writing global…
Possible F5 tornado levels Joplin, Missouri, causing between $1 billion and $3 billion in insured damage
May 24, 2011 by Canadian UnderwriterPreliminary insured loss estimates from the May 22 tornado that hit Joplin, Missouri, range between $1 and $3 billion, according to the catastrophe risk modelling company EQECAT. Initial surveys by the National Weather Service indicate the tornado, reportedly a mile…
MPI seeks public comment on discussion paper outlining road safety options
May 20, 2011 by Canadian UnderwriterManitoba Public Insurance (MPI) is seeking public comment on options for promoting road safety.MPI notes 100,000 drivers in Manitoba are involved in collisions each year. The direct cost of claims is in excess of $650 million annually, with injuries accounting…
SGI waives minimum seeding requirement for farm plates in 2011
May 20, 2011 by Canadian UnderwriterWith thousands of acres of farmland still under water, Saskatchewan Government Insurance (SGI) is waiving seeding eligibility requirement for farm plates in 2011.The farm plate eligibility exemption was first granted in 2010 and was set to expire on June 1,…
TD Insurance sets up temporary claims centres in Slave Lake region
May 20, 2011 by Canadian UnderwriterTD Insurance has set up temporary claims centres to assist customers after wildfires have burned more than 400 lots in the Slave Lake region of Alberta.TD Insurance said its representatives are on-site at evacuation centres established in Athabasca, Westlock and…
Alberta brokers oppose government plan to sell hail and crop insurance online
May 20, 2011 by Canadian UnderwriterAlberta’s insurance brokers have been unable to get Alberta Agriculture and the Alberta Financial Services Corporation to back down from their intention to sell hail and crop insurance from their Web site. “We oppose this action as it will eliminate…
Grenville Mutual poised to begin broker pilot for new business automobile upload
May 20, 2011 by Canadian UnderwriterWorking with Brovada, Grenville Mutual Insurance Company has announced it will soon begin a broker pilot of new business automobile upload, with residential following later this year.Grenville is also adding agribusiness inquiry to its growing list of automobile, residential, commercial…
Fire damage maps show 433 lots destroyed, 84 damaged in Slave Lake area wildfires
May 20, 2011 by Canadian UnderwriterThe Government of Alberta has posted detailed wildfire damage maps showing a total of 433 lots destroyed in the Town of Slave Lake and Municipal District of Lesser Slave River areas, with another 84 damaged.The maps show 374 lots destroyed…