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ALBERTA GOVERNMENT ESTABLISHES RELIEF PACKAGE

September 1, 2000 by Canadian Underwriter

Although much of the damage caused by the Pine Lake tornado was insured, the Alberta government has set aside funds to pay for uninsured losses and to cover emergency service expenses. The multimillion-dollar relief package includes an automatic $3,000 award…

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Alberta, Ontario struck by tornadoes

August 1, 2000 by Canadian Underwriter

The aftermath of tornado action in late July left massive damage in parts of Alberta and southern Ontario – the insured cost of which is likely to run into millions of dollars. As a result, the Insurance Bureau of Canada…

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Expanding horizons for independent adjusters

July 1, 2000 Vikki Spencer

If bigger is better, then Paul Hancock’s plans for the Canadian Independent Adjusters Association will be welcome news to its members. The incoming president has his eye squarely on expanding membership, increasing the association’s profile, and making strides in the battle for industry self-regulation.

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Y2K: rollingthe dice

September 1, 1999 Sean van Zyl, Editor

With year 2000 reinsurance treaty negotiationscurrently in full swing, there is a desperate hope among the players that rates will return to moresensible levels. However, faced with increasedcompetition, both locally and globally, reinsurersanticipate a long road ahead before the soft…

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Canada absorbs cat, U.S. takes steps

September 1, 1999 by Canadian Underwriter

Foods that hit New Brunswick and Nova Scotia the week of July 26 have formed one of the largest insured losses to hit Atlantic Canada this decade. Close to 900 claims have been submitted to date and insurers predict damages…

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could this year be THE BIG ONE?

August 1, 1999 Sean van Zyl, Editor

Alan Greenspan only has to mention inflation and interest rates in the same breath to send the investments markets into spasm. His most recent economic brief, presented toward the end of July, knocked off close to 3% of the value…

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Disaster Loss mitigation: Great Balls of Hail

August 1, 1999 Alan Pang, managing director at the Institute for Catastrophic L

Over recent years the largest catastrophic loss payments of most insurers have resulted from prairie hailstorms. During the 1990s, there have been six major storms, each causing catastrophic losses in excess of $50 million. The National Hail Conference, recently held…

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Oklahoma tornadoes further catastrophe losses

June 1, 1999 by Canadian Underwriter

Arecent tornado that hit Oklahoma has become the worst insured catastrophe in the state’s history, according to preliminary information released by the Property Claim Services (PCS) unit of Insurance Services Office (ISO). The storm system caused $955 million in insured…

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Cat hits on U.S.

April 1, 1999 by Canadian Underwriter

January 1999 was the third-costliest January for the U.S. in terms of catastrophe claims on record with insurers paying an estimated $1.75 billion in damages. The claims result from four events, according to Insurance Services Office, Inc.’s Property Claim Services…