New Brunswick earthquake ‘widely felt’
January 11, 2019 THE CANADIAN PRESSGRAND BAY-WESTFIELD, N.B. – A minor earthquake rattled windows and knocked dishes off shelves in a small community in southern New Brunswick on Thursday. “It felt like something ran into the building _ it was a big bang,” said Troy…
New, revised CAIB expected by fall
January 10, 2019 by Jason ContantThe Insurance Brokers Association of Canada (IBAC) is hoping to be able to present a new, revised Canadian Accredited Insurance Broker (CAIB) program to the broker community by this fall. The new content will address 10 broad broker competency areas…
What could drive reinsurers away from some markets
December 10, 2018 by Greg MeckbachReinsurance is extremely important but could get too expensive in certain areas, industry leaders said at a recent event. Some insurance companies today are “dialing up their reinsurance protection – property and cat risk in particular in the United States,”…
The flood risk that might be unaccounted for
November 19, 2018 by Greg MeckbachInsurers might be unintentionally covering flood and fire risks arising from computer problems, a cyber expert with a risk modelling firm suggests. “Anything that is related to a computer system could trigger non-cyber losses,” Matt Honea, cyber director for Cyence…
Study suggests bedrock stress a factor in fracking-caused earthquakes
October 29, 2018 Bob Weber - THE CANADIAN PRESSNew research is digging in to why fracking causes earthquakes in some areas but not in others. A paper published Monday in Geophysical Research Letters suggests the likelihood of an artificial earthquake is heavily influenced by how stable the ground…
Three strong earthquakes reported off Canadian coast
October 22, 2018 The Canadian PressThree relatively strong earthquakes were recorded Sunday night in the Pacific Ocean off Vancouver Island. The U.S. Geological Survey reported a 6.6 magnitude quake about 260 kilometres west of Tofino, followed by a 6.8 tremor and then a third measuring…
Why clients need advice on ‘litigation hot spots’
October 21, 2018 by Greg MeckbachCommercial brokers advising Canadian clients with operations in foreign countries need to understand consumer protection and pollution laws in those countries. “It’s up to a broker to make sure that he or she is well versed in what those countries’…
Filling hydro dams in Quebec causing small earthquakes
October 14, 2018 Stephanie Marin - THE CANADIAN PRESSMONTREAL – Filling the reservoirs of Quebec’s hydroelectric dams has sometimes caused small earthquakes – a process that doesn’t seem to have occurred elsewhere in Canada, according to a seismologist who has studied the phenomenon. Maurice Lamontagne says it’s still…
Will Nova Scotia earthquake spur uptake in insurance coverage?
October 1, 2018 by Jason ContantA small earthquake that struck Nova Scotia’s western shore Saturday has again highlighted the lack of uptake of earthquake coverage in Atlantic Canada. At about 10:30 a.m. on the morning of Sept. 29, a magnitude-3.1 quake struck off the coast…
Strong Oregon quake felt in Vancouver and Sidney, B.C.
August 23, 2018 The Canadian PressVANCOUVER – A magnitude 6.2 earthquake that hit nearly 300 kilometres off the south-central coast of Oregon early Wednesday was strong enough to be felt in British Columbia. Data from the United States Geological Survey shows residents in Vancouver and…
Cyber catastrophe bonds: Coming soon?
July 13, 2018 by Greg MeckbachWith computer security incidents causing business interruption and privacy breaches, there is a “very real possibility” that a catastrophe bond covering cyber risk might be available, the head of a cyber risk modelling vendor predicts. Catastrophe bonds are a form…
New P&C database could increase cat bond, ILW activity in Canada
June 27, 2018 by David GambrillCatastrophe Indices & Quantification Inc. (CatIQ) has launched Canada’s first ever insurance Industry Exposure Database (IED), developed with support from the Canadian property and casualty insurance industry and in partnership with Zurich-based PERILS AG. The IED contains 2016 and 2017…