How the pieces of the puzzle fit together during a catastrophe
July 5, 2018 by Jason ContantFollowing a catastrophe, policyholders are best served when adjusters and contractors adhere to their professional limitations in managing a loss, an industry executive said Tuesday. Jim Eso, senior vice president of property and casualty with Crawford and Company (Canada) Inc.,…
What have we learned from Lac-Megantic train derailment?
July 3, 2018 by Greg MeckbachNearly five years after a fatal accident in which a runaway freight train caught fire in Lac-Mégantic Quebec, the frequency of uncontrolled train movements is on the rise, the Transportation Safety Board of Canada warned Wednesday. “In 2017, there were…
Contractors know their role: Restoration contracting firms speak out
July 3, 2018 by Jason ContantControversy has swirled around the property and casualty industry’s response to Ontario’s May 4 windstorm, with restoration contracting firms speaking out to Canadian Underwriter recently to confirm the proper role of contractors during the catastrophe event. Restoration contracting firms made…
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…
Wildfire evacuees to return to Southend, Saskatchewan
June 27, 2018 THE CANADIAN PRESSSOUTHEND , Sask. – Residents who had to leave their remote community in northern Saskatchewan because of a wildfire are being allowed to return. The wildfire was growing last week and was 13 kilometres away when an evacuation was ordered…
Paid This is how savvy commercial underwriters are getting ahead of the competition
June 25, 2018 Opta Information IntelligenceIn a fiercely competitive and increasingly challenging commercial lines marketplace, Opta Information Intelligence’s Commercial Perils Solution can now display an unparalleled scope of risk related insight to a particular piece of business. Allowing savvy underwriters to better manage their existing…
Fort McMurray airport sues insurer for $34 million in wildfire losses
June 25, 2018 by Jason ContantThe Fort McMurray Airport Authority (FMAA) is suing FM Global for more than $34 million, contending that the insurer breached its obligations under a policy in place during the Fort McMurray wildfire in May 2016. In a statement of claim…
Wildfire forces hundreds of people from remote community
June 25, 2018 The Canadian PressSOUTHEND, Sask. – The threat of a growing wildfire has forced more than 600 people from a remote community in northeast Saskatchewan. Emergency management officials say the fire is getting larger but is still about 13 kilometres away from Southend.…
Lightning sparks more than 100 wildfires in B.C., further storms expected
June 21, 2018 The Canadian PressKAMLOOPS, B.C. – The B.C. Wildfire Service says more than 100 new blazes started after lightning storms rolled across the province Wednesday. Chief fire information officer Kevin Skrepnek says 113 fires have recorded, most of them due to lightning, and…
Chris Giffin sells interest in 30 Forensic Engineering, stepping down as CEO
June 18, 2018 by Jason Contant30 Forensic Engineering’s senior leadership team has acquired the firm, the company formerly known as Giffin Koerth announced Monday. As part of the “evolution and growth strategy of the organization,” founding partner Chris Giffin has agreed to sell his interest in…
Cause of $25 million fire remains under investigation
June 18, 2018 The Canadian PressBRANDON, Man. – A massive blaze that burned through historic buildings in downtown Brandon last month caused about $25 million in damages and police now say it may have been started by people. Fire crews were called to the Christie’s…
Brian Reeve elected to board of auto insurer
June 15, 2018 by Greg MeckbachInsurance regulation expert Brian Reeve was elected this week to the board of directors of Echelon Financial Holdings Inc., a property and casualty insurer spun off in 2005 from subsidiaries of The Co-operators Group Ltd. Reeve is partner and chair…