Claims
The four recent airline crashes that occurred in Canada, Italy, Venezuela and Greece, have put August on the map as the worst month for airline losses in more than three years, according to Aon Corp. The value of the most expensive insured hull the Air France Airbus crash at Toronto Pearson International Airport (all passengers […]
By Canadian Underwriter | August 22, 2005
1 min read
A series of storms, including two tornadoes, recently wreaked havoc on southern Ontario destroying homes, flipping cars, downing power lines and more. Environment Canada reports the F-2 (a “Strong” rating on the Fujita scale) tornadoes traveled with winds ranging between 180 and 240 km/hr, cutting a 300m wide perimeter of destruction per tornado.In response to […]
The U.S. Securities Exchange Commission recently served MBIA Inc. with a “Wells” notice in lieu of the retroactive reinsurance the bond insurer had purchased to cover its losses.As a result of its actions to cover losses resulting from its guarantee of bonds issued by Allegheny Health, Education and Research Foundation, MBIA may face a civil […]
U.S. district courts saw a decrease of 79% in the number of tort trials concluded between 1985 and 2003, according to a recent U.S. Department of Justice’s Bureau of Justice Statistics report.The report states that 768 tort casesprimarily personal injurywere decided in U.S. district court trials in 2003 compared with 3,604 in 1985."The growing use […]
By Canadian Underwriter | August 19, 2005
More than 11 million litres of liquid manure recently spilled into Black River in the northern area of New York initially posing a concern to Kingston, ON city officials.President and CEO of Utilities Kingston Jim Keech says he is monitoring the spill and is confident that it will not reach Kingston. The spill was caused […]
A record number of tropical storms may result from the 2005 North Atlantic hurricane season, according to Tropical Storm Risk (TRS) – led by University College London’s Benfield Hazard Research Centre.Approximately 22 tropical storms, TSR reports, may form in the Atlantic basin throughout this years hurricane season. Further to their prediction, TSR says half of […]
By Canadian Underwriter | August 15, 2005
An Environmental Protection Commission was recently formed to perform reviews and make recommendations regarding Alberta’s ability to respond to environmental incidents, according to Alberta Environment Minister Guy Boutilier.Although the suggestion of the Commission was just recently evoked, Boutilier says it will be operational immediately by reviewing best practices for responding to environmental incidents and recommending […]
2 min read
Total revenue for Pethealth Inc. (TSX VENTURE:PTZ) for the second quarter of 2005 rose 22% to reach $3.5 million from $2.9 million for the same period last year.The Company’s net loss for the Q2 decreased slightly to $107,109 from $109,171 for the comparable quarter ended June 30, 2004.Pethealth’s insurance operations saw a gross written premium […]
By Canadian Underwriter | August 11, 2005
A new policy bestows airport personnel with the power to turn suspicious travelers away and ban from all them from all Canadian flights without explanation, according to Transportation Minister Jean Lapierre.An anti-terrorism plan will also be initiated according to Lapierre and he elaborates that this plan will develop a secret no-fly list that will be […]
By Canadian Underwriter | August 10, 2005
A recent wild fire ravaging an Okanagan sagebrush field just a few 100 metres away from Oliver city, B.C., has forced many residents to flea their homes. The fire quickly grew to 500 hectares before air tankers began to fight the flames.Most recently, the fire covered approximately 60 hectares.The fire is now moving up a […]
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