Digging Deeper Into Oil Spills
August 1, 2005 Bert Wood, president, ESRSGreater environmental awareness, tighter regulatory standards and pressure from banks and lending institutions on real estate transactions mean that risk managers and homeowners must pay close attention to oil spills, contamination and proper remediation. The alternatives can be financially disastrous.
Cutting CAT Costs
August 1, 2005 Kyle Urech of Disaster Kleenup CanadaOnce again, the 2005 storm season is showing signs of unremitting squally skies – a daunting reality considering the insurance industry just recently dealt with catastrophes (CATs) including, BC forest fires, flooding in Edmonton and Peterborough and Hurricane Juan, to name but a few. While insurers have been doing a very good job of planning ahead for such catastrophes often, their plans do not include their service providers who are meant to mobilize in response to a CAT. This oversight may result in greater costs incurred.
Canada not fully prepared for terrorist attack (August 01, 2005)
August 1, 2005 by Canadian UnderwriterAlmost immediately after London’s deadly terrorist bombings, Canada’s 24-hour emergency preparedness system kicked into effect and worked as intended. However, in a recent speech at an international conference on disaster management, federal public safety Minister Anne McLellan also highlighted the…
Canada not fully prepared for terrorist attack (July 12, 2005)
July 12, 2005 by Canadian UnderwriterAlmost immediately after London’s deadly terrorist bombings, Canada’s 24-hour emergency preparedness system kicked into effect and worked as intended. However, in a recent speech at an international conference on disaster management, federal public safety Minister Anne McLellan also highlighted the…
ING compensates flood victims in Alberta
July 8, 2005 by Canadian UnderwriterING’s insurance subsidiaries are assisting more than 5,000 customers to clean up and repair the water and hail damage incurred as a result of recent storms in southern Alberta. Jetse de Vries, chief operating officer for ING Canada, Western Region,…
Views (July 01, 2005)
July 1, 2005 by Canadian UnderwriterClose to 240 clients and senior staff of Swiss Re Canada gathered for the company’s 20th Annual Monte Carlo Gala for Charity, enjoying an evening of dinner, entertainment, games of chance and prizes. The recipient of this year’s receipts was…
Estimates of flood damage, crop losses mount in rain-soaked Manitoba
July 1, 2005 by Canadian UnderwriterDamage from flooding across southern Manitoba may result in insured claims of approximately $225 million, with about 10% of this figure resulting from damage incurred to commercial property, according to Jim Rivait, vice president Insurance Bureau of Canada (IBC) prairies,…
NIST stresses need to secure tall buildings through design
June 23, 2005 by Canadian UnderwriterThe National Institute of Standards and Technology (NIST) has recommended the technical community implement changes in the design, materials, construction, maintenance and techniques i.e. changes to codes and standards to improve tall building safety and performance. The report, based on…
Insurers may be flooded with storm damage claims from Alberta
June 23, 2005 by Canadian UnderwriterFlooding is no longer the only force damaging residences in Alberta. Environment Canada has now released reports of several tornado sightings near Vauxhall, Taber and Coalhurst with at least one of them touching down. In addition, heavy windstorms and golf-ball-sized…
Update, Alberta floods
June 20, 2005 by Canadian UnderwriterIn a recent statement, Deputy Prime Minister Anne McLellan recently offered Rob Renner, Minister of Municipal Affairs, any assistance required to aid against the damage caused by relentless floods in Alberta. McLellan, Canada’s Minister of Public Safety and Emergency Preparedness,…
IBC releases flood precaution advisory for Alberta
June 8, 2005 by Canadian UnderwriterA recent advisory released by the Insurance Bureau of Canada (IBC) warns policyholders in southern Alberta to prepare in advance of possible flooding.Policyholders are told to contact their insurance company or representative as soon as possible if flooding occurs and…
An Elephant’s Perspective
April 1, 2005 Al Maggi, a senior communications officer at the Insurance Bureau of Canada (Toronto)People treat you differently when you are an elephant. Everyone wants to high-five you, dance with you or hug you – not reactions to which we in the insurance industry are accustomed. When you are a pudgy pachyderm, most people…