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Meranti southeast China’s most powerful typhoon in decades

September 16, 2016 by Canadian Underwriter

Although Typhoon Meranti weakened significantly as it approached China, it still came ashore with a central pressure of 940 mbar, the equivalent of a Category 4 hurricane – the strongest typhoon in the region since 1949, according to catastrophe modelling

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Louisiana flooding leaves 100,000 insured vehicles damaged: NICB

September 1, 2016 by Canadian Underwriter

The August downpours that dumped more than 30 inches of rain in two days on parts on Louisiana have left as many as 100,000 insured cars and trucks damaged, the National Insurance Crime Bureau (NICB) in the United States said

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Typhoon Lionrock brings landslides and flooding to Japan

August 31, 2016 by Canadian Underwriter

Typhoon Lionrock has made landfall in Japan, bringing the intensity of a Category 1 hurricane with resulting landslides and flooding. The typhoon made landfall in the Tohoku region of Japan on Tuesday evening, near the city of Ofunato in Iwate

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Louisiana, Mississippi flooding could exceed US$1.5 billion in economic damage, insured portion will be much less: Impact Forecasting

August 15, 2016 by Canadian Underwriter

Recent flooding across parts of Louisiana and southern Mississippi could approach or possibly exceed US$1.5 billion in economic damage, Impact Forecasting suggested in a cat alert issued on Sunday. “Based on the volume of river crest records that have been

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AIG Canada launches risk management and mitigation service for residential construction projects with budgets of $5 million or more

August 10, 2016 by Canadian Underwriter

AIG Insurance Company of Canada (AIG Canada) has announced the launch of Smart Build, a risk management and mitigation service for residential construction projects with budgets of $5 million or more. Calling it the first-of-its-kind program in Canada, the Canadian-based

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‘Prudent’ municipal development needed to reduce catastrophe losses: IBC

July 14, 2016 by Canadian Underwriter

With the recent wildfire in Fort McMurray, Alta. being the most expensive natural disaster in Canadian history and in the same province as Canada’s second most expensive catastrophe, officials from Insurance Bureau of Canada recently suggested that building codes and

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SGI Canada assigning more adjusters to deal with Saskatchewan flooding claims following heavy rainfall

July 12, 2016 by Canadian Underwriter

SGI Canada will be assigning additional adjusters to Estevan, Saskatchewan – among the areas in the province hit by heavy rainfall that prompted localized flash flooding – to handle what is anticipated to be higher-than-normal claim volumes, the insurer reported

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The Co-operators launches overland flood insurance for Ontario

June 27, 2016 by Canadian Underwriter

The Co-operators General Insurance Company announced on Monday that it has launched new insurance coverage that protects homeowners in Ontario against damage caused by overland flooding. The new coverage, which is available throughout the province, is an inclusive and flexible

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Excess & surplus property insurers ‘may be first’ to enter U.S. flood market if proposed reforms passed into law: S&P

June 16, 2016 by Canadian Underwriter

With the United States National Flood Insurance Program scheduled to expire in September, 2017 and the House of Representatives unanimously approving a bill intended to give consumers more choice in buying flood insurance, the market for flood coverage “may end

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Pembridge Insurance announces enhanced Water Damage Extension endorsement to cover overland flooding

June 15, 2016 by Canadian Underwriter

Markham, Ont.-based Pembridge Insurance Company has announced the launch of their enhanced Water Damage Extension endorsement, which includes protection for sewer back-up and is now extended to include overland water, or fresh water flooding and damage caused by surface or

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Optimum General offers overland water damage coverage for residences in Ontario and B.C.

June 3, 2016 by Canadian Underwriter

Montreal-based Optimum General Inc. announced on Friday that is has launched a residential policy endorsement in Ontario and British Columbia which now covers overland water damages. Optimum General said in a press release that the endorsement, which was launched on

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Officials say it could take months to extinguish massive Alberta blaze

May 7, 2016 By John Cotter - THE CANADIAN PRESS

FORT MCMURRAY, Alta. – Fire officials are bracing themselves for a long, long fight against the blaze that forced the evacuation of Fort McMurray and has eaten up more than 1,500 square kilometres of northern Alberta forest. “Unless we have