Claims
MONTREAL - Environment Canada says a tornado touched down in a Quebec town during intense thunderstorms that caused considerable damage in different parts of the province, including the felling of century-old trees in Montreal. Meteorologist Amelie Bertrand said Wednesday a team dispatched to Lachute confirmed an EF-1 tornado with winds reaching about 175 km/h struck in the town about 85 kilometres north of Montreal. Bertrand said an EF-1 tornado can cause wind gusts ranging from about 135 to 175 km/h, placing Tuesday’s tornado at the higher end of…
By Jason Contant | August 24, 2017
3 min read
The magnitude 6.0 earthquake that struck central Italy exactly one year ago is estimated to have cost 108 million euros, PERILS AG has reported. PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data, disclosed its final loss estimate for the Aug. 24, 2016 earthquake on Thursday. The revised estimate of the property insurance market […]
By Canadian Underwriter | August 24, 2017
2 min read
The Insurance Corporation of British Columbia (ICBC) reported on Wednesday that it has received 124 claims to date, at a cost of $500,000, from the wildfires burning in the province. Most vehicle damage claims were related to extreme heat and smoke damage, with some vehicles even rendered as total losses, ICBC reported in a press release. Recognizing that it is experiencing the “worst wildfire season in the province’s history,” ICBC added that it has made formal changes to its policies to reflect “these special circumstances for customers on evacuation…
By Canadian Underwriter | August 23, 2017
Roost, a U.S.-based innovator in smart home telematics for the insurance industry, announced on Wednesday it has closed its second round of funding with US$10.4 million in investments from three companies, including Desjardins Insurance. The US$10.4 million Series B funding includes strategic investments from three companies, led by Aviva Ventures, with participation from Desjardins Insurance and Fosun RZ Capital in China, noted information from Sunnyvale, Calif.-headquartered Roost. Existing investors also participated in the round, bringing total funding to date to US$17 million.…
MONTREAL – Crews began cleaning up in Quebec on Wednesday after a suspected tornado hit one town and severe thunderstorms ripped through other parts of the province, felling century-old trees in one Montreal neighbourhood. The Montreal area and the Laurentian region north of the city were hit by the stormy weather Tuesday afternoon. “There were […]
By Jason Contant | August 23, 2017
PERILS AG has disclosed its third loss estimate of 249 million euros for windstorm Thomas, which affected parts of Europe in late February. The independent organization that provides high quality data relevant to the insurance industry “with the aim of increasing the understanding of insured risk and to facilitate risk transfer” disclosed its third loss […]
Can an Ontario auto insurer, in a priority dispute over which insurer should be responsible for paying a claimant accident benefits, be able to argue that a motorist convicted of driving without insurance was in fact insured by the insurer who cancelled the motorist’s policy? Canada’s highest court is scheduled to announce Thursday whether it […]
By Canadian Underwriter | August 22, 2017
4 min read
KANSAS CITY, Mo. – Several streets were flooded and blocked off from traffic in the Kansas City area on Tuesday after overnight rains pounded the region, prompting numerous rescues of stranded motorists and others who scrambled to safety atop rooftops. Kansas City’s police and fire departments reported receiving more than 130 calls for water rescues, […]
By Jason Contant | August 22, 2017
Cybercriminals involved in spam distribution tried to capitalize on public fears of the WannaCry ransomware epidemic with spam and phishing emails offering cyber protection, a new report from Kaspersky Lab has found. The Spam and phishing in Q2 2017 report, released on Tuesday, said that researchers from the cybersecurity company detected “a large amount of […]
KAMLOOPS, B.C. – Over 400 firefighters are working to contain the largest wildfire in British Columbia’s history. Kevin Skrepnek of the BC Wildfire Service said 19 fires merged in an area west of Quesnel in the Interior, creating a single fire estimated to be 4,674 square kilometres in size. Co-ordinating a response has been a […]
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