Canadian Underwriter


Feature

Ontario storm costs $400 million (September 01, 2005)

September 1, 2005 by Canadian Underwriter

Canada’s car, home and business insurers will likely have to pay out more than $400 million to help Southern Ontario recover from the storm that hit on August 19, resulting in what the IBC calls the “highest insured loss in

Feature

Katrina’s Waves

September 1, 2005 Steve Wilson, Senior Publisher

The initial impressions of Hurricane Katrina were television shots of devastating winds and pounding storm surges. The images confirmed what many had predicted – a severe Category 4 or a Category 5 hurricane but nothing that the Southeastern U.S. and

Feature

Cutting CAT Costs

August 1, 2005 Kyle Urech of Disaster Kleenup Canada

Once 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.

News Climate ChangeInsuranceMergers and Aqcuisitions

Montreal highways hit with flash floods

July 7, 2005 by Canadian Underwriter

Montreal highways were recently flooded by a heavy flash flood. According to Const. Chantal Mackels, with the Quebec provincial police, no one was injured. However, she adds some drivers were caught in flood waters and had to be rescued by

Feature

Storm damage claims increase insured and uninsured losses by two-thirds

July 1, 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

Feature

Estimates of flood damage, crop losses mount in rain-soaked Manitoba

July 1, 2005 by Canadian Underwriter

Damage 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,

ANNE MCLELLAN
Feature

Attacks on London evoke increased interest in terrorist coverage

July 1, 2005 by Canadian Underwriter

Following the recent terrorist bombing attacks in London – a coordinated attack where at least four bombs exploded in the city’s transportation system resulting in more than 40 casualties and hundreds of serious injuries – the U.S. Department of Homeland

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

News Climate ChangeInsurance

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

News Climate ChangeInsurance

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

News Climate ChangeInsuranceMergers and Aqcuisitions

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

News Climate ChangeInsurance

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,