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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

Feature

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.

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What’s new: In brief (April 17, 2005)

April 17, 2005 by Canadian Underwriter

Florida’s state-run windstorm insurer of last resort, Citizen’s Property Insurance Corp., says it will face a US$516 million shortfall in its account following last year’s unprecedented hurricane season. The shortfall could result in every insured homeowner in the state paying

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U.K. non-life market strong, but not for long: Fitch

April 5, 2005 by Canadian Underwriter

The U.K. non-life insurance market has enjoyed stronger results in the past two year, but this kind of improvement is unlikely to last, predicts Fitch Ratings.In a new report, “Enjoy it While it Lasts but not too much”, the rating

Andreas Wagner, director of environmental health & safety
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Preventing Mold Losses

March 1, 2005 Andreas Wagner, and Tom Park

Recent scientific and legal developments have started to push mold damage in buildings up on the agendas of many insurance companies.

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Taking a Closer Look

March 1, 2005 Terry Neilson

While many insurance companies talk of risk assessment and underwriting, few have taken advantage of technology solutions to integrate loss inspection reports into their workflow.

Amateur video shows the December 26, 2004 tsunami's waves crashing into Phuket, Thailand.
Feature

Tsunamis Echoes of the Waves

February 1, 2005 Vikki Spencer

The devastation wrought by the Indian Ocean tsunami poses a host of dire questions for government and for insurers here in Canada as they struggle to maintain some footing in what has become a war against Mother Nature.

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Insurers have role to play in developing countries: Swiss Re

January 25, 2005 by Canadian Underwriter

In the wake of the December 26th Asian tsunami disaster, insurers have a role to play in providing financial protection in developing countries, says Swiss Re. In a new report on the tsunami and its consequences, the reinsurer notes that

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ICLR to “take the stage” at Kobe conference

January 17, 2005 by Canadian Underwriter

Two researchers who work with the Institute for Catastrophic Loss Reduction (ICLR) will be heading this week to the World Conference on Disaster Reduction in Kobe, Japan.Dr. Gordon Bean and Dr. Slobodan Simonovic are set to present research to the

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Tsunami disaster leads to calls for early warning system

January 3, 2005 by Canadian Underwriter

Countries in the Indian Ocean are working on plans for an early warning system to detect future tsunamis, much like that already used off the coast of Japan.Following the December 26 tsunami disaster, which resulted from a seaquake registering 9.0

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Fairfax declares annual dividend

January 3, 2005 by Canadian Underwriter

Toronto-based Fairfax Financial Holdings (TSX, NYSE: FFH) has declared a dividend of US$1.40 per share on outstanding multiple and subordinate voting shares. The dividend is payable on January 28, to shareholders of record on January 14, a company release states.

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Homeowners and Natural Hazards

January 1, 2005 Paul Kovacs

How well do Canadian homeowners understand insurance coverage for natural hazards? Would they like their insurance companies to send them information about hazard safety? Do homeowners approve of insurance companies funding loss prevention research? These are questions the Institute for