Canadian Underwriter

News Climate ChangeInsurance

As climate heats up, Allianz premiums get fired-up

June 29, 2005 by Canadian Underwriter

European insurer Allianz AG is set to increase future insurance premiums in direct response to the risk posed by global warming, which increases claims resulting from increased flood frequency and heat waves. In order to reduce greenhouse gas emissions caused

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Cost of storm damage to increase insured and uninsured loses by two-thirds

June 29, 2005 by Canadian Underwriter

Combined, global costs resulting from catastrophic storm damage may show an increase of two-thirds by the 2080s, according to the Association of British Insurers (ABI).The new report, “Financial Risks of Climate Change,” provides a global analysis of the projected climate-change

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Cunningham Lindsey Canada sends CAT team to Alberta

June 28, 2005 by Canadian Underwriter

Cunningham Lindsey Canada is sending numerous catastrophe adjusters to devastated southern Alberta, where recent mass flooding has caused insurmountable damage. The Company is sending over 30 CAT adjusters who have been working on Alberta’s claims resulting from flood and hail

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Insurers may be flooded with storm damage claims from Alberta

June 23, 2005 by Canadian Underwriter

Flooding 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

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Update, Alberta floods

June 20, 2005 by Canadian Underwriter

In 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,

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What’s New: In brief (June 15, 2005)

June 15, 2005 by Canadian Underwriter

Flood registration centers recently opened to assist Albertans who have been impacted by recent flooding. Claims can be made at any registration center call 1-888-671-1111 for more information on the claims process. The $55 million disaster recovery program covers damage

News Climate ChangeInsurance

What’s New: In brief (June 10, 2005)

June 10, 2005 by Canadian Underwriter

FGIC Corp. recently appointed Eric Rosensweig to the position of managing director, international finance. Offering seven years of experience with MBIA, Rosensweig will be responsible for new business opportunities in the emerging markets and Canada. Most recently, he served as

News Climate ChangeInsurance

Alberta residents to receive financial aid on uninsurable flood damage

June 9, 2005 by Canadian Underwriter

In response to damages incurred from recent flash floods in southern Alberta, the province has approved a $55 million disaster recovery program. The funds will aid residents of 17 Alberta municipalities and three First Nations, compensating for uninsurable severe weather-related

News Climate ChangeInsurance

IBC releases flood precaution advisory for Alberta

June 8, 2005 by Canadian Underwriter

A 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

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What’s New: In brief (June 08, 2005)

June 8, 2005 by Canadian Underwriter

The Spencer Educational Foundation Inc. recently established a memorial scholarship fund in honour of Thomas M. Regan, a former RIMS chapter president, who was killed on September 11, 2001, in the World Trade Centre attacks. The New York Chapter of

News Climate ChangeInsurance

U.S. homeowners under-insured against hurricane losses

May 16, 2005 by Canadian Underwriter

With more than 68 million people living in hurricane-prone areas of the U.S., many homeowners are inadequately insured, warns the Insurance Information Institute (III) as the 2005 hurricane season is set to begin in June. Last year, the eastern seaboard


Promoting Resilient Homes

May 1, 2005 Paul Kovacs, executive director of the Institute for Catastrophic Loss Reduction

The intensity and frequency of severe weather events is increasing globally. Concentrated population growth is also rising – particularly in areas which are more weather disaster prone. Can the insurance industry positively influence social developments to promote safer living? I believe it can and should play a crucial role in this regard.